[2014-08-02] Can Bitcoin Deliver on its Promise to the World’s Unbanked?

[Kprawn]

http://www.coindesk.com/can-bitcoin-deliver-promise-worlds-unbanked/

    “If you have no way to get online, then you have very limited ways to send or receive bitcoin.”

And if your government banned BTC you cannot spend it. 

[Bit_Happy]

...According to a survey of 24 developing countries conducted by the Pew Research Center, even where Internet service is available, smartphones are still relatively rare and many of the world’s poor access the Internet using public computers.

Previous topics about "the World’s unbanked" have mentioned that cell phone usage/availability is very high in many parts of Africa.
That offers hope for a good number of people being able to use Bitcoin.

[cryptofan5]

I don't think any payment process can exist without banks' participation. even if you transact between mobile phones, at some point you need to use the bank to get physical cash for your bitcoin.

[libivan]

I don't think any payment process can exist without banks' participation. even if you transact between mobile phones, at some point you need to use the bank to get physical cash for your bitcoin.

The thing we have to know here is: what is this "physical cash" that you're talking about? If you mean paper fiat money, then you are right: you will need a banker...

But BTC is cash. That's what it's all about: no need of bankers, no need of fiat.

Maybe, nowadays, your brick and mortar merchant won't accept BTC, but it's only the beginning. When those poor unbanked people finally start using BTC, ideally it will already be well spread in use as the currency that it is.

[Bit_Happy]

I don't think any payment process can exist without banks' participation. even if you transact between mobile phones, at some point you need to use the bank to get physical cash for your bitcoin.

The thing we have to know here is: what is this "physical cash" that you're talking about? If you mean paper fiat money, then you are right: you will need a banker...

But BTC is cash. That's what it's all about: no need of bankers, no need of fiat.

Maybe, nowadays, your brick and mortar merchant won't accept BTC, but it's only the beginning. When those poor unbanked people finally start using BTC, ideally it will already be well spread in use as the currency that it is.

If enough merchants accept BTC and employers offer payment in BTC, then you can be your own bank.