#SCTP 6: The argument that #crypto is great for #remittances and helps #bank the #unbanked. A totally false premise that was debunked in my doc at https://www.youtube.com/watch?v=tspGVbmMmVA&t=4118s
#cryptocurrency #blockchain #scam #factchecking #finance #tech #ponzi
"Perché le #Criptovalute non hanno ancora preso piede nei paesi in via di sviluppo?
Abbiamo tutti sentito il clamore, che le banche #Crypto sono #Unbanked, e così via. Ma in gran parte, abbiamo visto il mondo sviluppato prendersi la parte del leone dell'attenzione e degli investimenti nelle criptovalute.
Ciò non significa che non stia facendo breccia nel mondo in via di sviluppo. Lo sta sicuramente facendo." [...]
Should natural people be forced to maintain a bank account or should they have the option to be #unbanked?
How the digital world is failing the non tech-savvy.
Banking the #unbanked: focusing on commercial banks misses an opportunity. #Banks won't provide financial incentives such as lottery schemes for the poor to use banks. But another sector could - and should.
My new Coppola Comment post (paywall/free trial)
https://coppolacomment.substack.com/p/banking-the-unbanked-focusing-on
At the #DMV today, I observed a number of elderly people attempting to renew their drivers license were denied #RealID because they lacked sufficient address verification - a bank statement or utility bill. I saw the same issue repeated for young applicants, too. It irritates me that politicians have created an #ableist gate that excludes the #unbanked and #unhoused from access to federal facilities and public transit.
@elan @tedivm The biggest regression is the elimination of cash; the #warOnCash. AFAICT #Klarna is cashless; unlike the #SafePay card, there is no way to buy a card at a supermarket using cash. So #unbanked ppl are excluded. I would love to open a Klarna acct linked to a temporary bank acct which I then close, rack up a Klarna debt & say to Klarna “where can I pay be debt in legal tender?”
"The Faroe tax system (TAKS) shares a lot of similarities with #Denmark, which is the Faroes’ principal trade partner and, as it happens, helped the autonomous territory develop their code. Simplicity is an overarching principle—so is shifting the burden of compliance and calculation to a centralized state and away from individual taxpayers."
Reject #Crypto and Look to the Faroe Islands to Help the #Unbanked | https://news.bloombergtax.com/daily-tax-report/reject-crypto-and-look-to-the-faroe-islands-to-help-the-unbanked
Interests, in no particular order, include: #Labor #Unions, #GIS, #Geospatial, #Python, #FOSS, #DataScience, #EO, #FountainPens, #Journaling, #SocialJustice, #HousingJustice, #FinTech, #Inequality, #Unbanked, #polyamory, #allies...
Housing first.
Supporting #Ukraine is the only option. Expansionism, theft, sheer unbridled racism, and attempting to utterly stamp out other cultures cannot be permitted.
Feel free to say hi!
11% of #Mississippi residents are #unbanked. 4.5% is the national average of unbanked people. https://www.pbs.org/newshour/show/millions-of-unbanked-americans-lack-adequate-access-to-financial-services #cryptocurrency
@martinmcwhorter That is reductive and oversimplifies the argument. Of course #crypto is bad for some people, like gambling (which can kill). But for others, like those who cannot access their own money, or have it controlled by others, or cannot access a financial institution, or live in a nation with worthless Fiat, it can be very good. Nothing is ever black and white. I am no expert, but there are problems it is trying to solve. If there is anything that could be concerning is the advances in quantum computing that could render blockchain tech (as it is now) useless.
#blockchain #unbanked #DeFi #smartcontracts #immutable
@paul @gitea @Bobo_PK @dachary @forgefriends @sebastian @stevenroose W.r.t the criminal enterprises claim— criminals use #cryptocurrency & also banks. We don’t cancel banks just b/c criminals use them. We don’t cancel cars just b/c drive-by shootings happen. More generally, we don’t oppress legitimate users of a tool just because there are some bad actors. #Unbanked people should not be excluded from commerce on the basis that thieves exist.
Anyone still #unbanked today is unbanked by choice — by #tyranny.
No #CentralBankDigitalCurrency (#CBDC) will fix that. This is evidenced by persons in #Australia who are locked out of their banks by #CloudFlare.
This drive to digitise people is also a drive to financialise people — and #financialisation leads to greater #inequality.
No #ethical path forward can involve #CentralBankDigitalSlavery.
RT @parisc
Twitter: "Crypto is killing the planet"
Reality: Crypto is trading as currency in third world countries and even journos are noticing what others have for years.
"
https://www.wired.com/story/crypto-remittances-cuba/
Great to see the #unbanked gaining some #sovereignty. We may have lolled hard at the name of a #bitcoin website in #SubSaharanAfrica called #UsefulTulips.
Shame it meanders over to a couple centralised scamTokens.
To really work like cash, a (retail) Central Bank Digital Currency should... http://stop.zona-m.net/2021/02/what-on-earth-are-cbdcs-money-of-course/ #cdbc #cashless #money #cryptocurrencies #unbanked
Almost three months after getting notice of account closure, I finally have the check from Citizens Bank. I now have to cash the check with them, as I have no more bank account into which I can deposit it. #unbanked
