Banked?
I wonder, how many people without access to financial services are there in the world?
In this sense, those who do not have a bank account use cash as the only means to access goods and services.
The phasing out of cash on the streets to make way to digital money is a threat to the people without banks to back them up.
What options do unbanked people have in a cashless world?
Bank support without altruism is the norm; capital has no heart.
Governments need banks, companies, and businesses to collect taxes from the people. However, workers in the informal economy areas handle cash transactions. So, there is a very high possibility of tax evasion.
To add insult to injury, Covid19, moreover to killing people, also destroyed a large part of the medium and small business sector in many countries. Although banked, people incorporated into a precarious labor informality.
The appearance on the scene of Bitcoin and the rise of mobile technology offer alternative solutions to the physical disappearance of money.
Sure, the original philosophy of Bitcoin faces the interests of governments and international banking. So, the establishment will try to use blockchain technology based on its agenda and create its version of cryptocurrency.
People, banked or not, will have to choose which way to go.
What's next in the monetary area?
In my opinion, very bad! Sure, it's not that it's alarmist, but the economic effects of Covid19 herald just how bleak our future can be.
Although, others say that mass vaccination will eradicate the danger of the virus. Therefore, there will be a re-accommodation of society based on the objectives of the United Nations 2030 agenda.
By the way! One of the projects that the UN evaluates is a unique personal identification system for the world.
Please tell me I'm wrong! I observe an effort, both by the government and by corporations, to collect our biometric data.
I suppose that the data will contribute to assigning a bank account for every person on the planet.
But which bank?
Obviously, as a member of the system, of the bank that arises in the process and thus accesses the new digital currencies (CDBCs or Govcoins).
Unless you decide to use the other option, that is cryptocurrencies such as Bitcoin.
In this case, you will become your bank and responsible for the proper management of your assets.
You can tell me that there are other cryptocurrencies with technology to compete.
And you are right!
Among these, Bitcoin Cash has the advantage of becoming the champion to defeat totalitarian power by forging itself behind good intentions.
Well, that's how I see it, I may be wrong.
Now, if you want to become your bank, I recommend:
Learn as much as possible about Bitcoin Cash,
Learn the essentials of economics, not only the Keynesian but also other schools, such as the Austrian.
Spread the knowledge of BCH in your area of influence.
Contribute to the mass adoption of BCH.
Image by mohamed Hassan on Pixabay
Closing thought
It sounds tempting to be your own bank, and with Bitcoin Cash it is possible. Sure, as with all human activity, you will need the knowledge and the correct disposition so that your bank does not fail.
Now, if you want to continue under the boot of the owners of the system:
You will have nothing, and you will be happy.
You will have to settle for a universal basic income.
Eat insect proteins.
Just to name three benefits that the system offers for the near future.
Definitely! I want to be my bank and I have BCH.
An original article by @Jnavedan
Cover imagen by Brenda Johnson on Pixabay
I agree with you. With BCH it is possible. It is much needed to gain knowledge about Bitcoincash and help BCH to be accepted among people and mass adoption. As much as people know about it, people will accept it. To become a bank for money is important and BCH is the key