Bitcoin makes basic financial services accessible to people around the world

Most people do not have or cannot access basic financial services such as savings and loans. Existing systems are geographically difficult, or too cumbersome to work well to anywhere on earth. People cannot save, or invest. That wastes the time and productivity they've created. Most of the wealth they create will disappear due to inflation.

To overcome the inflation problem, I believe bitcoin can fix this problem. Venezuela is a Latin American country that has been rocked by inflation. Now Venezuela has become the poorest country in the world. The government could do nothing but stand by and wait for outside aid. They have lost the value of the local currency. If they had used bitcoin as a national reserve asset, unfortunately, that inflation would not have happened.

Source image: https://pixabay.com/photos/bitcoin-money-virtual-market-3137984/

The rapid growth of the internet and mobile phones has given us great opportunities to access basic financial services. Now more than 8 billion people have great opportunities to access financial services. That means people have the opportunity to keep the fruits of their labor for longer. With the bitcoin network, we will be self-managed personal banks, self-managed personal finances with almost zero inflation rate. There are no intermediaries involved in the transaction to help us get the most out of our labor productivity.