/biz/ - Business & Finance

>>52426179
What if there is a cute brown girl there who yearns for the outside world but can't leave because she is unbanked.
One of the basic concepts and most simple use cases for Cardano is that of “banking the un-banked.” That means getting people who don’t have access to any real kind of financial services, something that they can use in day to day living. It may seem super basic to anyone in European countries or nearly all of North America. We are used to having great financial institutions. It’s not even on our radar to think of what it must be like to not have access to our money anywhere on earth.

Go out of the first-world countries, though, and you start to see how it is for massive numbers of people who are not able to get access to any services. It’s alarming to learn just how difficult it can be to manage money if all you ever get is a tiny amount of cash, and you have to keep it on your own. You can’t invest it. You don’t earn interest. You can’t even use it for collateral for credit. It’s just pretty colored paper that’s worth what it says and no more. It can be used to buy you food but only if you can keep it safe from anyone who might want to steal it. If you want to grow your money you don’t have many ways to do so. Something simple like a sewing machine, which might help you start a tailoring or mending business would be a pipe dream. It might cost two or three months wages.

Now imagine what it would mean if you wanted to start a new business and instead of having to come up with all of the money on your own, you could get support from a community who was willing to invest in you. It would be life changing. I found out about a program like this in the Dominican Republic a few years back. It was a super simple system of community pooled resources that acted similar to a bank. They were being started up around the small island nation by a charity group. It was literally changing peoples lives. I saw it first hand.