Samson Mow Says Bitcoin Fixes Problem of the Unbanked
- Mow said the unbanked exist due to the system that denies access to money.
- Additionally, Mow stated that Bitcoin fixes this system.
Samson Mow, the CEO of JAN3 and a nation-state Bitcoin adoption worker, has recently said that the unbanked exist because of the system that denies people access to money and finance.
Speaking about the benefits of Bitcoin adoption outside of national prosperity, Mow stated that the other benefit of Bitcoin is simply financial inclusion. Additionally, he stated that the benefit of Bitcoin would be the banking of the unbanked. Samson Mow spoke about the unbanked, stating:
The only reason that the unbanked can exist is because there is a system by which we deny people access to money and finance.
Mow spoke about Bitcoin, stating that it can be accessed freely by anybody around the world, regardless of their social standing or economic situation. Moreover, he stated that it gives everyone an equal chance for financial prosperity.
The JAN3 CEO stated that many countries are now moving to a Bitcoin standard. He predicts that in five to ten years, all fiat money would be obsolete. He also stressed that it is better to act now from a position of power and strength and adopt the Bitcoin standard.
Speaking about his belief that all nations should adopt Bitcoin, Mow stated that he would love for Mexico to be one of those first countries.
El Salvador adopted Bitcoin as legal tender with the vision of helping 70% of its citizens escape the unbanked system. With cryptocurrencies, people can just set up a crypto wallet and send, receive, and send crypto to anyone, despite their economic background.
Compared to traditional banking, sending cryptocurrencies does not necessarily entail possessing a physical home address or official identification documents, which may be unavailable to some individuals from lower-income situations.