LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise
No Result
View All Result
LBN
No Result
View All Result
Bitcoin News

Analysts Feel BTC Can Really Help Minorities

by Nick Marinoff
August 10, 2022
in Bitcoin News, News
Share
logo

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000

Sign up

Can bitcoin and crypto help minorities? This appears to be the overall sentiment amongst many analysts and industry heads.

How Minorities Can Benefit from Crypto

Several claim that minorities have often been underbanked or have faced opposition from standard financial institutions. These minorities often do not gain access to the tools or services they need to stay afloat and survive, and bitcoin can potentially bring them the solutions they’re eager for.

Teri Williams – the president, COO, and owner of One United Bank, one of America’s largest black-owned financial enterprises – says that there are many phrases used to describe the discriminatory tactics he and his constituents see in the world of finance, “banking while black” being a common one. He said:

There are many reasons for the large percentage of unbanked or underbanked Black Americans, including lower median income and education, less access to banking services due to a lower concentration of bank branches, a higher concentration of check cashers in black communities, and systemic racism.

Olayinka Odeniran – the founder of the Black Women Blockchain Council – also threw her two cents into the mix, claiming that there has often been a lot of red tape her people have had to cut through to gain access to the products and tools they need. She says:

Everybody always felt that we don’t really care about investing or budgeting, but in essence, we do. It’s just that historically, we have not had resources that allow us to tap in beyond risk, gaining some monetary freedom that’s beyond paycheck to paycheck.

Cleve Mesidor – executive director of the Blockchain Foundation – explained that many minorities can use crypto as a means of surviving and paying for what they need. He said that crypto doesn’t discriminate, and that virtually everyone can use it under the right circumstances. He said:

Even though we’re experiencing a bear market right now, historically, bitcoin is still on the up and up. This is a currency that no one paid attention to and now it’s sitting at around $20,000.

Mesidor’s idea that crypto can aid minorities is one that’s shared by many including digital currency enthusiast Steven Bumbera. He said:

People of color sometimes have difficulty going to get a bank loan or going to get some sort of assistance from the government or a way to start their businesses and they’re turned down. Crypto doesn’t care… If you are on-chain and you have a wallet address, you’re a wallet address. That’s it. Crypto doesn’t care about color, race, [or] sexual orientation.

Knocking the Barricades Aside

Teri Williams concluded with:

Crypto is not a competitor to traditional banking, but a complement. There will continue to be a need for traditional banking services, but crypto, in moderation, can provide opportunities for wealth building and opportunities to develop new services.

Related Posts

Stellar Lumen (XLM) Price
Altcoin News

Stellar Lumen (XLM) Price At Risk Below This Key Support, Bears Are Back?

Stellar lumen price is gaining pace below the $0.132 support zone against the US Dollar. XLM price is now...

by Aayush Jindal
December 11, 2023
XRP Price
Altcoin News

XRP Price Analysis: XRP Drops Again, Can This Support Hold?

XRP price started a fresh decline below the $0.650 zone against the US dollar. The price is now trading...

by Aayush Jindal
December 11, 2023
Bitcoin Cash Price
Altcoin News

Bitcoin Cash Analysis: Indicators Suggest Fresh Rally To $275

Bitcoin cash is eyeing a fresh increase above the $252 resistance against the US Dollar. The price is now...

by Aayush Jindal
December 8, 2023
Litecoin (LTC) Price
Altcoin News

Litecoin (LTC) Price Analysis: Bulls In Action Above $75

Litecoin started a steady increase above $72 against the US Dollar. LTC price is now trading above $73.50 and...

by Aayush Jindal
December 8, 2023

Top Casinos

Crypto Casinos
Crypto Casinos
Bonus Finder
Bonus Finder

Press Releases

  • BC.GAME Honored with the “Best Casino Operator 2023” Award from SiGMA

  • ArbitrageScanner is hosting its biggest affiliate event in Bangkok on the 9th of December. For...

  • Is the Bitcoin price still at risk? Golden Cross signals bull run

  • FUNToken & ivendPay: Pioneering the Next Era of Crypto Payments

  • Zeebu’s $ZBU Listing On Gate.io and Startup Program

About us:

Live Bitcoin News is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at Live Bitcoin News, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

Follow us:

  • This field is for validation purposes and should be left unchanged.

  • About
  • Partners
  • PR
  • Advertising
  • Privacy
  • T&C
  • Contact
  • Trading Software
  • Online Casinos Germany

© 2023 Live Bitcoin News. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Exchange News
    • Dogecoin News
    • Litecoin News
  • Charts
    • BTCUSD Chart
    • LTCUSD Chart
    • ETHUSD Chart
    • ETCUSD Chart
    • XMRUSD Chart
    • DASHUSD Chart
  • Education
    • Bitcoin Glossary
    • How to Trade Bitcoin
    • Why Use Bitcoin?
    • Bitcoin Wallet
    • How to Buy Bitcoin
    • How Can I Mine Bitcoin?
    • How Can I Buy Litecoin?
    • How Can I Mine Litecoin?
    • Current Bitcoin Regulation
  • Press Releases
    • View All Press Releases
    • Submit a Press Release
  • Advertise

© 2023 Live Bitcoin News. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.
Go to mobile version