In this article I will try to analyze de-banking which a significant part of the world's population suffers from, reflecting on how, based on certain criteria in new technologies such as Blockchain y Bitcoin As a new means of payment, financial inclusion can be cushioned. And there is no doubt that the impact of technology blockchain in global mercantilist and social markets could have direct effects on the regions most harmed by financial inclusion, especially in certain regions and gender ranges.
So I can start by saying that financial inclusion is increasing worldwide in recent years and has been accelerated by the use of mobile phones and the use of the Internet. The achievements have been very different and In my opinion somewhat unfair and poor since, from one area to another, from one country to another and the worst, in gender difference There have been large gaps. In the latest report of the World Bank On the use of financial services, studies indicate that men still have more options than women to hold a bank account.
Globally, 69% of adults, around 3800 billion people, now have an account with a bank or mobile money provider. o cryptocurrencies, , which is a fundamental link in a chain of slavery, which is undoubtedly a turning point in escaping poverty. This is an increase from 62% in 2014 and from a mere 51% recorded in 2011.
As I argued earlier, the difference between geographical areas is brutal and often limited by large disparities between men and women, between rich and poor, once again a system of social slaveryIn developing economies, the gap between men and women remains unchanged, but in developing countries the ratios are soaring.
According to Global Findex“In recent years, important steps have been taken around the world to bring people closer to formal financial services,” he said. World Bank Group President, Jim Yong Kim.
Undoubtedly, financial inclusion allows people to save to meet family or health needs, take out loans to support an economic activity or have reserves for emergencies. I would say that it is a fundamental human right.
Vinny Lingham, South African co-founder of the project Civic, It shows that the problem of de-banking lies in the fact that individuals cannot carry out their economic transactions without difficulty or various impediments.
In my opinion I will say that we have to start assuming that the world does not really need a bank account to be useful in the business society or in the labor market at the professional level. What the world needs is for each person to have the opportunity to carry out commercial and payment transactions without any difficulty, in an independent manner and championing the freedom of their assets.
De-banking is a problem that affects a significant part of the world's population as I have already mentioned above. The World Bank estimated that by 2018, a 31% of the adult population worldwide would not have access to the traditional financial system, and that is only in the statistics that have been able to be configured with the data collected. In developing countries is where the figures for debanking are fired.
With the debanking, individuals are faced with poor functioning of basic services, such as food and health services, and even the registration of personal, family or legal identity does not work as it should, creating unforgivable gaps. This is a note in G major in refugee camps, for example.
So I can say that a payment system , the Bitcoin allows individuals to transact more easily Simple, fast, free and free, through a device in which a wallet or cryptocurrency wallet or have access to an online wallet and can have access to the network to request confirmation of transactions. It should also be noted that this financial and property freedom that gives Bitcoin and some cryptocurrencies, can be used both as a store of value or as an investment and even as a speculative vehicle to create more wealth.
So that the cryptocurrencies, For Bitcoin to be a tool that allows financial inclusion, individuals must first have access to the Internet and mobile devices, but most importantly, there must be a mass education campaign that informs and educates about the existence of Bitcoin and its use. At the same time, it is necessary to educate people about scams that seek to take advantage of their lack of knowledge, and at the same time teach that the volatility of Bitcoin It is a symptom of this asset and market that is still under construction. An action that in Bit2Me Academy is inscribed in its DNA and he gives his all day long in this fascinating and laborious job.
As a fact on this subject, we can mention that His Majesty the Queen Maxima of Holland, United Nations Special Adviser on Financial Inclusion for Development, stated the following:: “Digital financial services have been key to our recent development and will continue to be essential as we strive to achieve universal financial inclusion.”
At a global, world level, There are 1700 billion adults who are still unbanked, two-thirds of whom own a mobile phone that could help them access financial services and payment methods.. As easy as accessing a exchange of online cryptocurrencies, such as Bit2Me, open an account and acquire a wallet that will include you directly in the payment system for various commercial activities.
Using digital technology and new information technology, chain of blocks, could make use of the operations that are currently carried out in cash, being able to incorporate a large part of the unbanked population to incorporate more people into the financial system or into the commercial system using means of payment.
Another enlightening fact is that More than 200 million unbanked adults working in the private sector only receive cash payments, or in nominative or bearer checks and this is extrapolated to the agricultural sector where the figure is also around more than 200 million that move in the sector without stable financial conditions.
Let us explain how the regional situation is at a global, world level.
En Sub-Saharan Africa, mobile money boosted financial inclusion. While the proportion of adults who have an account with an institution remained stable,The proportion of adults who have a mobile money account has almost doubled to 21%Since 2014, mobile money and crypto accounts have spread from West Africa to West Africa and other regions.
En Asia Oeastern and the Pacific, the volume of digital financial transactions grew even as the number of account holders remained stagnant. Today, 71% of adults have an account, which is little changed over the past few years. An exception is Indonesia, where the proportion of people with an account increased by 13 percentage points to 49%. Gender inequality is low: in Cambodia, Indonesia, Myanmar and Vietnam, men and women are equally likely to own an account.Digital financial transactions have accelerated, especially in China, where the proportion of account holders using the Internet to pay bills or buy things more than doubled (57%).
So we see that digital technology could be leveraged to further increase account usage: 405 million account holders in the region pay utility bills in cash, even though 95% of them have a mobile phone.
En Europe and Central Asia, the number of account holders rose from 58% of adults in 2014 to 75% in 2018. Government payments of salaries, pensions and social benefits made through digital means have helped drive that increase. 17% of bank users opened their first account to receive payments from the State. The percentage of adults making or receiving digital and cryptocurrency payments increased by 14% to 60%. Digitizing all public pension payments could reduce the number of unbanked adults by up to 20 million.
En Latin America and the Caribbean, broad access to digital technology and blockchain This could enable accelerated growth in the use of financial technology or payment methods: 55% of adults have a mobile phone and internet access, 15 percentage points higher than the developing world average. Since 2014, the share of adults making or receiving digital and crypto payments has increased by about 8 percentage points or more in economies such as Bolivia, Brazil, Colombia, Haiti and Peru. In Argentina, Brazil and Costa Rica, about 20% of adults with an account use a mobile phone or internet to operate an account. By digitizing cash payroll payments, businesses could help enable up to 30 million unbanked adults, nearly 90% of whom have mobile phones, to have a cryptocurrency account or wallet.
En Middle East and North Africa, the opportunities for increasing inclusion are particularly strong, especially for women. Today, 52% of men, but only 35% of women have an account, which is the largest gender gap of all regions. The fact that so many people own mobile phones offers a way to expand financial inclusion: among the unbanked, 86% of men and 75% of women have a mobile phone. Some 20 million unbanked adults in the region, including 7 million from the Arab Republic of Egypt, send or receive remittances within the country using cash or informal services.
En Asia Msouthern, the proportion of adults who have an account increased by 23 percentage points to reach 70%. Progress was driven by India, where a government policy aimed at increasing financial inclusion through biometric identification caused the proportion of account holders to rise to 80%, with significant gains among women and poorer adults. India also finally opened up to the use of cryptocurrency wallets. Excluding India, the number of account holders regionally increased by 12 percentage points, but men often benefited more than women. In Bangladesh, the share of people with accounts rose by 10 percentage points among women and nearly doubled among men. Regionally, digitizing payments for agricultural products could reduce the number of unbanked adults by about 40 million.
Let us hope that the use of blockchain and Bitcoin as a means of payment will help to achieve financial, economic, commercial and social inclusion more quickly at a global level. Education in this sense is the most important point and in Bit2Me Academy We work hard every day so that a ray of education shines every morning.
