Debunking the narratives about cryptocurrency and financial inclusion
Brookings Institution,
2022
Recommendation
Innovations in financial services may not necessarily translate into improved accessibility for underserved groups. Just as bank accounts are often subject to minimum balance requirements and high fees, and just as deceptively simple products like subprime and payday loans come with onerous repayment terms, cryptocurrencies create a number of risks not immediately – if ever – apparent to many users. Researcher Tonantzin Carmona looks at the realities of current decentralized finance offerings in this astute study and assesses whether they will live up to their promise of greater financial inclusion.
Summary
About the Author
Tonantzin Carmona is a fellow at the Brookings Institution.
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