In a world where money is power, power is centralized in the hands of those who control money. Dependent on them, the people of the world suffer, slowly watching their financial opportunities vanish. If individuals are to determine their own financial futures – and thus their lives – power must be decentralized and returned to them. Failures of Fintech and Traditional Finance In a panic to uphold their economies, world governments printed tens of trillions of dollars during the COVID-19 pandemic, consequently diluting the buying power of citizens globally. Now, inflation is on the rise – 6.8% in the United States, 4.48% in India, and 3.8% in the UK. World governments have made it very clear that they can print as much money as they like, regardless of the cost. People are tired of their fates being dependent on the state’s policies – money printing, bank bailouts, trade wars, and business subsidies – policies that rob them of financial opportunities. Fintech does as much to reduce access to financial services as it does to increase it. Inhumane automated systems determine insurance rates, big players on Wall Street manipulate the markets, financial institutions harvest people for their data, and governments take a piece of every dollar that citizens earn before they’re even paid. But that’s only for those lucky enough to have access to financial services in the first place. While bank accounts and loans are common in Western c...
