I think saying crypto is better than no bank [for the poor] is a bit like saying loan sharks are better than no loans.
In a literal sense that’s definitely true: having more options must be uniformly good, and sometimes you want these options for sure.
And yet no one says “yay loan sharks bring financial freedom”, more like “let’s fix poverty and lack of banking”.
On balance I think that if you cannot have a bank account then a crypto economy may well be better (but omg the transaction fees), but that shouldn’t be a blueprint for financial advancement.
In a literal sense that’s definitely true: having more options must be uniformly good, and sometimes you want these options for sure.
And yet no one says “yay loan sharks bring financial freedom”, more like “let’s fix poverty and lack of banking”.
On balance I think that if you cannot have a bank account then a crypto economy may well be better (but omg the transaction fees), but that shouldn’t be a blueprint for financial advancement.