The Future Of UnBanked Population In The Finance Industry
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At around 1.3 billion, the number of credit card holders aren’t even close to 20% of world population. An alternative is required to saturate the remaining 80% with Lines of Credit (LoC), global market connect and liquidity. However, the poor and aspiring folks find it particularly hard to get banking finance for their undertakings, owing to clandestine racial, political and administrative prejudices.
Stable cryptocurrencies can go a long way for cementing that gap. These cryptocurrencies can hedge a deprived entrepreneur’s engagements against value fluctuations, accounting & legal aspects, arranging collaterals for securing credit, etc. It would greatly help to bring the unbanked into mainstream economy as it’s the SMEs that majorly help in uplifting the deprived populace and drive the global economy in general.
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