How Bitcoin Empowers Women

How Bitcoin Empowers Women

I was recently conversation with a friend in Kenya, describing how difficult women in that country were in the local elections due to the complexity of the creation of a bank account. The first challenge is to obtain identification documents, which is a complex process due to cultural attitudes in some societies that men may object to women who are looking for independent documents. Many women also live away from the registration centers, and they have limited limited to complete models and may not be able to withstand the costs of the trip and documentation fees. Moreover, many women lack birth certificates, they have no evidence of residence if they live with traces of male and common treatment, which means that multiple visits to the registration center far away are often required.

Without a bank account, or the ability to store and build money and reach it independently, one of them is not really free. In many countries around the world, it is common to reach government services, official employment, registration to vote and create commercial work. It is very important that it is also required to stand in the local elections, and thus, to participate in local governance. This means that many women, especially in developing countries, enjoy the basic human rights restricted by an ancient, failed financial system that is not suitable for the purpose of the twenty -first century.

In Pakistan only 13 % of women have an official bank account compared to 34 % of men. Moreover, the process of opening a woman’s bank account is more complicated, in many cases it requires more identity certificate Permission from a male relative. The image is not much better around South Asia on a wider scale, with only 37 % of women Accounts Compared to 55 % of men. Things a little better In the Middle East, only 45.5 % of women have bank accounts compared to 59.6 % of men. While in sub -Saharan Africa, 37 % of women have a bank account comparison To 48 % of men.

Even when women have bank accounts in many developing countries, it is unlikely that credit is not considered worth compared to men. For example, in India women Receive Credit is only 27 % of the deposits you contribute, while men get credit equal to 52 % of their deposits. In addition, women are entrepreneurs in India Receive Only 5.2 % of due credit granted to institutions by Indian public sector banks, although they have higher payment rates than men. This perceived lack of credit is associated with the fact that women have less property, and other solid assets, which can be used as a guarantee of loans. This, again, is linked to low banking rates.

Given the above, it is fair to conclude that the world is desperate for an alternative to the old financial system. It seems that this system only reflects the biases and biases for the people who run it and therefore women cannot achieve financial equality without a global social revolution that reconstructs women’s views. While such a revolution is desirable, it is unlikely to occur in a short period of time and in some places, such as Afghanistan and Iran, it seems that the direction of traveling in the wrong direction.

However, the collective adoption of a bitcoin in the developing world can completely transform the economic scene. The blind digital currency between the sexes that do not require users to ask for permission from family members, and not contaminated by local biases and cultural practices that restrict the role of women in society and business, is to change the game that is time. Bitcoin not only enabled women, but society in general is that it will give 50 % of the population equal ability to store, build and treat money without any cultural or geographical restrictions.

Entrepreneurs who live in rural areas are often required to visit bank branches personally, which can be miles away and perhaps unsafe and expensive to reach. Bitcoin completely eliminates this barrier. Through a mobile phone and the Internet, women can get payments, save money and participate in global trade – all of their homes. Bitcoin is the nature of boundaries that benefit women in the informal economy as well. Street sellers, craftsmen and home workers can accept payments digitally without the need for a bank account or a government identity. This is a revolutionary ability in areas where official documents require male guardianship or mobility in complex bureaucracy systems.

Bitcoin’s privacy features also provide decisive protection for women in weak situations. In societies where financial abuse is common, the ability to maintain special control can be the money changed life. Women can build savings without fear of discovery or confiscation, and creating basic safety networks for themselves and their children. The transfers market shows another vital application. Many women in developing countries depend on the money sent from family members who work abroad. Traditional transfers often impose excessive fees and require recipients to travel to specific locations during working hours. Bitcoin allows transportation operations close to cost in a small part of the cost, allowing women to receive funds directly and safely.

The revolutionary nature of Bitcoin is the concept of self -body, which means that individuals have direct access to their wealth, without any participation in a third party. Self -reinforcement also means privacy and wealth available from anywhere in the world at any time. When global access is combined with a limited form of money, thus carrying value and resistance to excessive inflation, the manufacturing force of bitcoin cannot be reduced.

Bitcoin can finance what the Internet has done for information, creating a room for the flat confrontation in which the non -changeable features do not play any role in access or use. As such, when the barriers are removed in front of the money, the social agreements that were used to increase these barriers also begin to melt. Self -reinforcement means that we pick up power away from large and low financial institutions that seek to maintain the stagnant situation. Self -reinforcement means the strength of people and the strength of women who are struggling to achieve financial independence and equality. Self -reinforcement means a better world for everyone.

This is a guest function by Ghaffar Hussein. The opinions that are expressed are completely property and do not necessarily reflect the views of BTC Inc or Magazine Bitcoin.

BitcoinEmpowerswomen