02-22-2022, 04:11 AM
Banking the Unbanked with DeFi how its going
<!-- SC_OFF --><div class="md"><p>I know this discussion on banking the unbanked has been from around now but lemme push it further. It has been over just a decade since DeFi was first introduced to the world with the creation of Bitcoin. Of course, most of us first saw it as a PONZI scheme that came to fleece us of our cents. But years down, what was started by anonymous Satoshi has seen a lot of growth to becoming an entity that is now being considered as the bridge between those who are unbanked (people who can’t easily access services offered by traditional banking like borrowing money, and more) and financial freedom. Just like the rich, the poor can now access all services that come with traditional banking but with fewer requirements - without needing KYC to be specific. </p> <p>It even gets better with the recent introduction of 2nd generation DeFi, where defi protocols will now adopt the use of AI to eradicate the need for KYC. This <a href="https://www.newsbreak.com/news/2510377690320/defi-is-breaking-new-ground-towards-banking-the-unbanked">article</a> explains how incorporating AI into on-chain contracts makes finance more accessible to all. So, we should expect a surge in the numbers of people on DeFi more than ever before.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Actual-Marionberry57"> /u/Actual-Marionberry57 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxu23v/banking_the_unbanked_with_defi_how_its_going/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxu23v/banking_the_unbanked_with_defi_how_its_going/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I know this discussion on banking the unbanked has been from around now but lemme push it further. It has been over just a decade since DeFi was first introduced to the world with the creation of Bitcoin. Of course, most of us first saw it as a PONZI scheme that came to fleece us of our cents. But years down, what was started by anonymous Satoshi has seen a lot of growth to becoming an entity that is now being considered as the bridge between those who are unbanked (people who can’t easily access services offered by traditional banking like borrowing money, and more) and financial freedom. Just like the rich, the poor can now access all services that come with traditional banking but with fewer requirements - without needing KYC to be specific. </p> <p>It even gets better with the recent introduction of 2nd generation DeFi, where defi protocols will now adopt the use of AI to eradicate the need for KYC. This <a href="https://www.newsbreak.com/news/2510377690320/defi-is-breaking-new-ground-towards-banking-the-unbanked">article</a> explains how incorporating AI into on-chain contracts makes finance more accessible to all. So, we should expect a surge in the numbers of people on DeFi more than ever before.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Actual-Marionberry57"> /u/Actual-Marionberry57 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxu23v/banking_the_unbanked_with_defi_how_its_going/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxu23v/banking_the_unbanked_with_defi_how_its_going/">[comments]</a></span>Kind Regards R