Hey, bitcoiners, I want to talk just briefly about what bitcoin can do
for the poorest in the world. Eradicating poverty is the UN's primary goal,
not HIV, malaria, world hunger, or war. Poverty, and for
good reason, being excluded from the global financial apparatus is a major reason why
the poor are locked into poverty. About a third of the world's population three
billion people are underbanked and underprivileged and could be lifted out of poverty through financial
inclusion. That's why bitcoin is a great tool for eradicating poverty, as it
helps include the unbanked in the global financial market. To take part in the
bitcoin economy, you don't need a social Security number or an address. You
don't even need a name. It doesn't matter what country you're from and what
religion you subscribe to, or what level of education you have. It doesn't
even matter if you don't have access to basic financial services or even basic standards
of living. It doesn't matter if you live in a totalitarian regime where they
try to make bitcoin illegal, or even if you live in prison. All
you need to take part in the bitcoin economy is a cell phone and an
Internet connection, and you become your own bank. Actually, you don't even
need a cell phone and internet connection, but it helps. Bitcoin is unstoppable.
No one can interfere with your transactions. No one can confiscate your money.
No government or bank can dilute the monetary supply, making the currency worthless,
as we've seen happen in Venezuela. Bitcoin gives financial power to the people,
regardless of who you are, and the poor can leverage this with bitcoin.
The poor who don't have access to financial services can include themselves in the
global financial apparatus. The oppress can escape their country's government without removing themselves physically
from the country. Completely neutral, censorship resistant, immutable, and borderless digital
cash with a fixed supply is a huge, huge deal. That's a short
one for today, and make sure to subscribe to the podcast then join Iomi
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