Some 1.7 billion people worldwide do not have access to financial services, but 1.1 billion of those have access to a mobile phone.
It is, therefore, likely that many unbanked people will have their first experience of financial services on decentralized infrastructure.
Decentralized finance is key to enabling open access, participation and opportunity in the new digital economy for everyone.
No technology better exemplifies the “leapfrog technology” phenomenon than the mobile phone, whose adoption allowed even the most underserved communities to entirely forego the need to implement traditional telecommunications infrastructures like wire networks and landline capabilities.
Today it is estimated that 83.4% of the world's population owns mobile phones. In fact, of the 1.7 billion people that remain unbanked (22% of the adult population), 1.1 billion are reported to have access to a mobile phone. For these people, their first experience with financial services will likely happen on...
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