Financial inclusion through cryptocurrency presents challenges, particularly in regions lacking technology and trust. Solutions require SMS and USSD-compatible tools for users without smartphones. Trust is vital; individuals prefer local cooperatives and religious leaders over banks and unfamiliar systems. Incorporating local stakeholders and verification processes is essential. Another challenge involves identity verification, complicated by the absence of typical documentation in many areas. Successful initiatives in Uganda and Papua New Guinea demonstrate the importance of adapting financial infrastructures to local contexts and existing trust systems.
True financial inclusion in underserved regions requires designing tools compatible with SMS, USSD, and low-tech wallets to accommodate users who lack smartphones or internet.
In many underserved areas, people do not trust banks or governments but place their trust in local cooperatives, elders, or religious leaders, necessitating community involvement.
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