A look at the many ways that cryptocurrency can help to solve the problems associated with global income equality.
Over the past few decades, the inequality of wealth distribution globally has become all the starker.
For example, as of 2022, the top 10% of Americans hold nearly 70% of US wealth. This means that 90% of the country only takes home 30% of the wealth. South Africa is another example, with the top 10% taking home 65% of the wealth.
Many citizens also lack access to general banking as well as high-class financial services (i.e., services limited to accredited investors) that are readily available to the more well-off residents. Cryptocurrency can help to reduce wealth disparity by providing users with access to a means to earn, store, receive, send and invest their money. This analysis looks at how cryptocurrency can help close the gap regarding income inequality.
How can crypto solve income equality?
Cryptocurrency gives users easier access to financial tools and a more...
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