Bitcoin-Backed Credit: A Pathway to Financial Access for the Unbanked
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Dec 03 2024Financial Exclusion and Bitcoin-Backed Credit: Approximately 1.4 billion adults are unbanked globally, facing life-altering financial exclusion; Bitcoin-backed credit offers a solution by allowing users to leverage their Bitcoin as collateral for loans without traditional banking barriers.
Benefits and Risks of Bitcoin-Backed Credit: This system provides advantages like no credit checks and global accessibility, but also poses risks such as price volatility and regulatory challenges, highlighting the need for balance between innovation and inclusivity in the financial landscape.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
