With Web2.5, financial inclusion and economic empowerment are within reach
With the rapid development of decentralized finance and blockchain technology, financial inclusion is closer than ever. In the late 2000s, the Global Financial Crisis (GFC) unleashed a tsunami of economic turmoil that reverberated around the world. Not only did it shake the deeply-rooted beliefs of centralized finance (CeFi) and institutions, but it also witnessed the demise of banks and businesses as stocks plummeted and international trade took a deadly plunge. Needless to say, the GFC shed light on the fundamental shortcomings of the existing financial system and further emphasized the need for financial sovereignty. In the wake of this crisis that shook the world, the pseudonymous creator Satoshi Nakamoto launched Bitcoin (BTC), the world’s first and original cryptocurrency, providing the opportunity for anyone to access a form of finance outside of CeFi. Financial inclusion Bitcoin, released as open-source software in 2009, was the first decentralized cryptocurrency. Source: Unsp