Banking the Unbanked

To open a bank account, you need an ID, a physical address, and a minimum deposit. For 1.7 billion people, these are insurmountable barriers. They are locked out of the global economy, unable to save securely or borrow capital to start a business.

The Permissionless Protocol

DeFi (Decentralized Finance) changes the rules. It is permissionless. To open a "bank account" (a wallet), you just need a smartphone and internet. No ID. No address. No permission.

Stablecoins as a Lifeline

In countries with hyperinflation (like Venezuela or Argentina), holding local currency is financial suicide. Stablecoins (crypto pegged to the USD) have become a lifeline. They allow a shopkeeper in Caracas to save their earnings in a stable asset, shielding them from the incompetence of their central bank.

The Credit Revolution

DeFi protocols can also automate lending. By using on-chain history (reputation) instead of a FICO score, we can extend micro-credit to entrepreneurs in emerging markets who have been ignored by traditional banks. This is capital finding talent, frictionlessly, across borders.