Technology has enabled the DeFi and Blockchain to break down barriers and assist in the resolution of social issues in the twenty-first century. According to the most recent Findex data, nearly one-third of adults remain unbanked. Blockchain technology instills trust in its users with its transparency built into a decentralized network, lowering transaction fees, and providing an alternate source of liquidity. Blockchain is also often linked to cryptocurrencies, which provide users with a more user-friendly platform to manage their assets online.
This article mentions four interesting major factors that make this new financial model a viable financial inclusion option for everyone: (1) Payment services, (2) savings, (3) credit, and (4) Insurance.
Considering the adoption of blockchain technology has allowed healthcare programs, governments, companies, and users to store and share data/financial goods in a secure and efficient way, these 4 points strengthen our argument on how can blockchain be beneficial for everyone. All that is needed is widespread adoption with adequate legislation, a more ecological infrastructure, and capital.
A very interesting article that is worth a read!