#DeFi

How can the unbanked get into the DEFI space?

1 answers
1 votes
How can the unbanked get into the DEFI space?
asked 
Hi there,

I was just thinking about all the existing hurdles that are out there to enter the blockchain environment. And I wonder how we can get the unbanked to make it into DEFI, these would be the people profitting the most from the space. Are there any roadmap out there I am not aware of?

Answers

newest most voted

You will have to study the demographics of the unbanked. What prevents them from having a bank account, let alone understand DEFI? Are there educational shortcomings or monetary ones that doesn’t imply a need for bank account at all? Along these lines you will understand why even if DEFI is necessary for the unbanked.

Although, how would these be the people profiting the most from this space?

D
@Saarah Rasheed

I am mainly interested in the monetary aspects. Bank restrictions are getting worse and worse with all the KYC and AMLs out there, that obviously do not prevent any ML by the big banks as we could just recently witness again.

For instance, someone that cannot provide a stable residential address, or proof of it will be rejected by any bank or broker. Even Andreas Antonoplis said he was turned away because he could not come up with PoA as requested by the bank institution.

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