Bitcoin and the Great Unbanking: How a System Designed for Exclusion Forged Its Own Demise.

The exclusion of these billions is not a bug in the current system; it is the current system’s most fundamental feature.

Four billion people.

Pause and consider that number. It is half of humanity. It is a population greater than that of China, India, the United States, and the entire European Union combined. According to the provocative thesis that sparked this discussion, four billion people live outside the formal financial system. While the World Bank’s more conservati…