I recently had a conversation with a Kenya friend. Kenya explained how difficult it would be to stand in local elections for the complexity of bank account settings. The first task is to get identification documents. This is a complicated process of a specific community cultural attitude that opposes a woman seeking an independent document. In addition, many women live far from the registration center, have limited literacy to complete the form, and may not be able to afford to travel and document fees. In addition, many women lack a birth certificate and have no residence if they live with the male parent, Relative. Because the delay of processing is common, multiple visits to a distant registration center are often required.
If you don't have the ability to store, build and access bank accounts or independently, one is not really free. In many countries around the world, it is a prerequisite for access to government services, formal employment, registered for voting, and establish business. The important thing is to run for local elections and, thus being involved in local governance. This means that many women, especially developing countries, are restricted in basic human rights due to the failure of the Legacy Financial System, which is not suitable for the 21st century.
In Pakistan, only 13 % of women have formal bank accounts compared to 34 % of men. In addition, the process of opening a bank account for women is more complicated. In many cases, evidence of permission from male parent Relative increases. This photo is not so good throughout South Asia, only 37 % of women who have a bank account compared to 55 % of men. In the Middle East, things are slightly excellent, and only 45.5 % of women have a bank account compared to 59.6 % of men. In Africa, south of Sahara, 37 % of women have bank accounts compared to 48 % of men.
Even if women have bank accounts in many developing countries, they are less likely to be considered to be credit than men. For example, in India, women receive the same credits as 27 % of the contributed deposits, but men receive a credit equivalent to 52 % of deposits. In addition, despite the higher repayment rate than men, Indian female entrepreneurs have received only 5.2 % of unpaid credit given to companies by banks in India's public sector. This recognized lack of credit ability is related to the fact that women own property and other hard assets that women can be used as collateral. This is also linked to a decrease in bank rates.
Given the above, it is fair to conclude that the world is desperate to replace the legacy financial system. This system only reflects the prejudice and prejudice of the people who run it, and women do not seem to be able to achieve economic equality without global social revolutions that reconstruct women's views. Such a revolution is desirable, but it is very unlikely to occur in a short time or in some places, such as Afghanistan and Iran, but the travel direction seems to be wrong.
However, the mass hiring of bitcoin in developing countries has completely changed the economic landscape. Gender blind digital currency, which is not polluted by local prejudice and cultural practices that restricts the role of women in society and business, without requesting permission from families, is a gender blind digital currency that has come to that time. Bitcoin not only gives women, but generally enhances society. This is because 50 % of the population gives, build, and trade money without cultural or geographical restrictions.
Female entrepreneurs living in rural areas may often be a few miles away and need to visit bank branches that may be expensive to access. Bitcoin completely eliminates this barrier. With just a mobile phone and the Internet connection, women can receive payments, save money, and participate in global commerce. Bitcoin's without boundary nature is also useful for women in unofficial economies. Street vendors, craftsmen, and housework workers can accept digitally payments without needing a bank account or government identification. This ability is innovative in areas where men's guardianship and complicated bureaucracy navigators need to get an official document.
Bitcoin's privacy function provides important protection to vulnerable women. In a society where financial abuse is common, the ability to maintain private management of funds can change life. Women can build savings without fear of discovery and confiscation, and create a safety network that is essential for themselves and children. The remittance market shows another important application. Many women in developing countries depend on money sent from families working abroad. Traditional remittance services often request excessive fees and travel to specific places during business hours. Bitcoin allows you to transfer the instant at a rate of a fewth, and women can receive funds directly and safely.
The center of the innovative nature of bitcoin is the concept of the self -of -law. In other words, individuals can access wealth directly without a third party involvement. Independence means that privacy is maintained and wealth can always access from anywhere in the world. This global accessibility is restricted, so if it is combined with the value and is resistant to hyperinflation, it will not be possible to reduce the conversion of bitcoin.
Bitcoin allows you to do what the Internet has done for information, and create an equal competition where invariant characteristics do not play a role in access and use. Therefore, when the barrier of money is deleted, the social customs used to enhance these barriers begin to wither. Independence means depriving the large -scale aging financial institution to maintain the stagnant status. Independence means a woman who struggles to achieve economic autonomy and equality. Independence means a better world for everyone.
This is a guest post by Ghaffar Hussain. The statements that have been expressed are completely unique opinions and do not necessarily reflect the BTC Inc or Bitcoin Magazine opinion.
