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A New Era for Financial Inclusion with Web 3.0
Discover how Web 3.0 can bring financial inclusion to underserved communities with keynotes on blockchain, cryptocurrency, and tokenization.
- There are 80-90% of viable financing opportunities that are not met.
- The financial system is flawed, with checks being a hassle and a target for financial inclusion.
- Assuming inclusion means what we currently experience in the developed world is a contributing factor to the issue.
- Blockchain and cryptocurrency can leapfrog traditional methods and bring people in.
- Designing for multiple perspectives and inclusion from the start is crucial.
- Tokenization can be used to create a new type of public good, but not all tokens have value.
- Inclusion requires understanding the needs and experiences of those outside of the financial system.
- Credit scoring may not work in communities without a track record of credit.
- Automation of market making can reduce inefficiencies and increase utilization.
- Blockchain can be used to verify ownership and improve transparency.
- Interoperability is key to creating a seamless and inclusive financial system.
- Token economies can be designed to operate independently of traditional financial systems.
- NOT ALL token projects are viable; they must be designed with the needs of the community in mind.
- Financial inclusion requires understanding the social and economic context of a community, rather than copying what works elsewhere.
- There are many examples of successful financial inclusion projects, but they are not widely adopted.
- Blockchain can be used to create new financial instruments, such as tokenized land ownership.
- Credit scoring models may not work in certain communities due to lack of data.