Blockchain’s Global Social Impact Revolution: From Banking the Unbanked to Fighting Corruption
1.7 billion adults lack access to formal banking, about 31% of all adults, and 55% of the unbanked are women. BitPesa, a crypto-powered remittance firm in sub-Saharan Africa, has cut transfer fees by up to 90% compared with traditional methods. In Kenya, the Red Cross and Grassroots Economics launched a blockchain-backed community currency, enabling 25 women with feature phones to create a credit and savings pool, with expansion planned to 320,000 users across Africa. In Haiti, a 2020 World Bank-backed blockchain pilot allowed 1,342 small producers to export directly, lifting mango revenues by 262% and cocoa by 348%. Sierra Leone