In the United States, an estimated 63 million Americans are unbanked, underbanked or lack access to the traditional financial system. That is a stain on our democracy and economic structure. Today, urban, rural and native communities that continue to be locked out of centralized finance are looking to cryptocurrencies as a pathway to economic empowerment.
Recent data shows that Black and Latinx communities are driving national mainstream adoption. A Harvard-Harris poll noted that “while only 11% of white Americans report owning cryptos, 23% of Black Americans and 17% of Hispanic Americans own such assets.”
This op-ed is part of CoinDesk’s Black History Month series. Cleve Mesidor is an adviser to the Blockchain Association and leads the National Policy Network of Women of Color in Blockchain. She previously worked in Congress and served as a presidential appointee in the Obama Administration.
The more options individuals have, the more inclusive money becomes.
This is a positive trend, but it also signals a greater need for financial literacy and skills training. The rising interest in new technological instruments is an opportunity to prepare key demographics for the next-gen workforce. Federal, state and local governments must be more proactive when it comes to future-of-work strategies to position historically disadvantaged groups to compete in the global innovation economy and foster digital equity.
Continue reading: https://www.nasdaq.com/articles/how-crypto-can-power-the-future-of-work-for-people-of-color
Recent data shows that Black and Latinx communities are driving national mainstream adoption. A Harvard-Harris poll noted that “while only 11% of white Americans report owning cryptos, 23% of Black Americans and 17% of Hispanic Americans own such assets.”
This op-ed is part of CoinDesk’s Black History Month series. Cleve Mesidor is an adviser to the Blockchain Association and leads the National Policy Network of Women of Color in Blockchain. She previously worked in Congress and served as a presidential appointee in the Obama Administration.
The more options individuals have, the more inclusive money becomes.
This is a positive trend, but it also signals a greater need for financial literacy and skills training. The rising interest in new technological instruments is an opportunity to prepare key demographics for the next-gen workforce. Federal, state and local governments must be more proactive when it comes to future-of-work strategies to position historically disadvantaged groups to compete in the global innovation economy and foster digital equity.
Continue reading: https://www.nasdaq.com/articles/how-crypto-can-power-the-future-of-work-for-people-of-color
