How DeFi Paves the Way for Financial Inclusion By DailyCoin – Investing.com

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

How DeFi Paves the Way for Financial Inclusion

According to the World Bank’s report from 2017, approximately 1.7 billion people worldwide don’t have a bank account today.

Not having access to this fundamental financial instrument is the main factor that stops them from realizing certain everyday functions. However, decentralized finance (DeFi) was created to meet all the requirements and demands of traditional banking — security, privacy, and accessibility — in a new way.

By transferring financial operations onto the blockchain, people will only need a smartphone or portable PC and a stable Internet connection to access the global financial system 24/7. How’s that for a step in the right direction?

In this article, you’ll discover how the current worldwide financial inclusion works, what DeFi is, why it’s the best choice for banked and unbanked people to manage their money, and how you can start investing in the space.

The Current Financial Inclusion Situation Worldwide

Individuals and enterprises who are financially included have access to financial goods...read more...