ADVERTISEMENT
Friday, February 3, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
Involve Africa
  • Home
  • All African News
  • Politics
  • Technology
  • Entertainment News
    • Travel
    • Tourism
    • Arts
  • Finance
    • Food & Agriculture
    • Business & Economy
  • Crypto News
  • Energy & Environment
No Result
View All Result
  • Home
  • All African News
  • Politics
  • Technology
  • Entertainment News
    • Travel
    • Tourism
    • Arts
  • Finance
    • Food & Agriculture
    • Business & Economy
  • Crypto News
  • Energy & Environment
No Result
View All Result
Involve Africa
No Result
View All Result
ADVERTISEMENT
Home Finance

Bitcoin Opening To Financial Inclusion – Bitcoin Magazine

Involve Africa by Involve Africa
July 28, 2022
in Finance
0
Bitcoin Opening To Financial Inclusion – Bitcoin Magazine
585
SHARES
3.2k
VIEWS
https://web.facebook.com/involveafricanews?_rdc=1&https://twitter.com/involveafricanews

You might also like

Deliver I Bonds Bought as a Gift in TreasuryDirect

All PLAY and MOVE activities revamped!

Traditional Backdoor Roth & Mega Backdoor Roth


This is an opinion editorial by Ray Youssef, CEO of Paxful and cofounder of the Built With Bitcoin Foundation.

Global wealth inequality is growing around the world. With inflation, conflict and the pandemic forcing many into extreme poverty, the top 1% are accumulating more power than ever before – capturing nearly 20 times more global wealth than the bottom 50%. And the rise of inflation is adding more fuel to the fire, with U.S. numbers rising to 9.1%. While we are all feeling its effects, many say lower income households are feeling it the most, with tight budgets getting hit by the rise of rent, gas and overall living costs. While bitcoin is not a silver bullet, it’s a strong solution for minimizing the wealth gap and opening the door to financial inclusion where fiat has failed.

Global remittances are one of the most vital sources of income for the emerging markets, but few money transfer companies exist that comply with local regulations. This forces people into using companies that charge higher fees and puts less money into the pockets of the people who need it most. Bitcoin fixes this, providing a better alternative to the way people send money with lower fees, faster speed and access for the unbanked. In El Salvador, where bitcoin is legal tender, it is estimated that money service providers will lose $400 million a year in commissions for remittances. People all around the world use the Bitcoin network to send money abroad in peer-to-peer fashion, no longer having to pay third-party fees to send money to family. Take Angela Cunha, for example, a Paxful user in Brazil. Angela moves bitcoin to and from her family members in the U.S.and with bitcoin, she is able to transact quickly and avoid expensive remittance fees.

The role of wealth in politics has also become an important issue, as the powerful few control many of the decisions that affect our financial well-being. For example, when a country decides to devalue or demonetize a currency, as we’ve seen in countries like China, Venezuela and Zimbabwe, this can put an entire population into poverty within weeks or days. Devaluing a nation’s currency not only hurts the citizens of the country, but has a ripple effect across the globe, causing markets to fall or forcing many into a recession. For the people plagued by hyperinflation, bitcoin functions as a store of value. With only 21 million bitcoin that can ever be mined, it is a strong alternative for those in search of wealth preservation.

Narrowing in on Africa, income inequality is widespread across the continent. Recent reports show that more than half of the world’s most unequal countries are in sub-Saharan Africa. Driving the wealth gap are three main areas — education, finance and land — all of which many lack access to. That’s why we’re committed to increasing education on the continent through campus tours, events and the opening of the PaxNaija educational center in Nigeria. We’ve seen from our work on the ground that Africans are entrepreneurial, smart and resourceful — with the right tools, they can adapt to anything that is thrown their way.

If you want to help get more people out of poverty, they need access to sound money — and there’s nothing sounder in my mind than bitcoin. While many still focus on bitcoin as a speculative asset, especially during the recent drop in price, it’s important we remain focused on bitcoin’s real day-to-day use cases. Bitcoin can provide financial freedom and be a source of opportunity for those seeking a way out from centralized systems and corrupt governments. To achieve financial equality, we all need to start looking at bitcoin through a new lens. This is just the beginning my friends — we are only scratching the surface — and with bitcoin, it’s my belief that despite the current outlook, the next decade will bring even greater change for the better.

This is a guest post by Ray Youssef. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.



Source_link

Previous Post

Norfolk Southern revenue rises in Q2; profit remains stable

Next Post

Ethiopian Airlines Becomes The 1st African Carrier To Order The Airbus A350-1000

Involve Africa

Involve Africa

Related Posts

Deliver I Bonds Bought as a Gift in TreasuryDirect
Finance

Deliver I Bonds Bought as a Gift in TreasuryDirect

by Involve Africa
February 2, 2023
All PLAY and MOVE activities revamped!
Finance

All PLAY and MOVE activities revamped!

by Involve Africa
February 2, 2023
Traditional Backdoor Roth & Mega Backdoor Roth
Finance

Traditional Backdoor Roth & Mega Backdoor Roth

by Involve Africa
February 2, 2023
The 8 Best Guaranteed Interest Investment Accounts
Finance

The 8 Best Guaranteed Interest Investment Accounts

by Involve Africa
February 2, 2023
CRA taken to court after denying support payments as tax deductible
Finance

CRA taken to court after denying support payments as tax deductible

by Involve Africa
February 1, 2023
Next Post
Ethiopian Airlines Becomes The 1st African Carrier To Order The Airbus A350-1000

Ethiopian Airlines Becomes The 1st African Carrier To Order The Airbus A350-1000

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

PH Health Dept.: Five more travelers from South Africa located | ANC

PH Health Dept.: Five more travelers from South Africa located | ANC

November 8, 2022
Crucial replenishment meeting for the African Development Fund as it marks 50 years of supporting the continent’s low-income countries | African Development Bank

Crucial replenishment meeting for the African Development Fund as it marks 50 years of supporting the continent’s low-income countries | African Development Bank

December 4, 2022

Categories

  • All African News
  • Arts
  • Business & Economy
  • Crypto News
  • Energy & Environment
  • Entertainment News
  • Finance
  • Food & Agriculture
  • News Videos
  • Politics
  • Technology
  • Tourism
  • Travel

Don't miss it

The Ultimate Route 66 Road Trip Guide
Travel

The Ultimate Route 66 Road Trip Guide

February 3, 2023
AFRICA NEWS ROOM • Afrique, Société : Le Sénégal et le poids économiques des confréries
News Videos

AFRICA NEWS ROOM • Afrique, Société : Le Sénégal et le poids économiques des confréries

February 2, 2023
Wireless Logic named a Leader in 2023 Gartner® Magic Quadrant™ for Managed IoT Connectivity Services, Worldwide
Business & Economy

Wireless Logic named a Leader in 2023 Gartner® Magic Quadrant™ for Managed IoT Connectivity Services, Worldwide

February 2, 2023
Deliver I Bonds Bought as a Gift in TreasuryDirect
Finance

Deliver I Bonds Bought as a Gift in TreasuryDirect

February 2, 2023
The road back home | FAO
Food & Agriculture

The road back home | FAO

February 2, 2023
7 South African travelogues you should read
Arts

7 South African travelogues you should read

February 2, 2023

Social Bar

Welcome to involve Africa The goal of involve Africa is to give you the absolute best news sources for any topic! Our topics are carefully curated and constantly updated as we know the web moves fast so we try to as well.

Categories

  • All African News
  • Arts
  • Business & Economy
  • Crypto News
  • Energy & Environment
  • Entertainment News
  • Finance
  • Food & Agriculture
  • News Videos
  • Politics
  • Technology
  • Tourism
  • Travel

Site Links

  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions

Recent News

The Ultimate Route 66 Road Trip Guide

The Ultimate Route 66 Road Trip Guide

February 3, 2023
AFRICA NEWS ROOM • Afrique, Société : Le Sénégal et le poids économiques des confréries

AFRICA NEWS ROOM • Afrique, Société : Le Sénégal et le poids économiques des confréries

February 2, 2023

INVOLVEAFRICA.COM

No Result
View All Result
  • Home
  • All African News
  • Politics
  • Technology
  • Entertainment News
    • Travel
    • Tourism
    • Arts
  • Finance
    • Food & Agriculture
    • Business & Economy
  • Crypto News
  • Energy & Environment

INVOLVEAFRICA.COM

What Are Cookies
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT