DeFi Group Suggests $30 Billion Plan to Alleviate Worldwide Poverty

DeFi's Economic Impact: A coalition led by the DeFi Education Fund proposes that decentralized finance could save low-income households up to $30 billion annually by eliminating high fees charged by financial intermediaries for services like remittances and bill payments.

Cost Disparities: Research indicates that low-income families lose an average of 7.1% of their annual income to financial service fees, while wealthier households face significantly lower costs, highlighting the "poverty premium" in the current financial system.

Access to Financial Services: The proposal emphasizes that DeFi can revolutionize financial access for the poor by reducing remittance costs by up to 80% and providing low-cost financial tools through blockchain technology, benefiting unbanked populations.

Regulatory Advocacy: DeFi advocates are seeking clearer regulations to differentiate DeFi developers from traditional financial intermediaries, aiming to foster innovation and create a supportive environment for decentralized financial applications that can benefit low-income communities.