ng the move as a problematic barrier to
day purchases. The policy, they argued,
g access to credit cards or smartphones. In
n announced in April 2019 that it would be
ple of a fissure within the field of fintech—
xtol its virtues as a potential equalizer of the
r launchpad for the rich to get richer.
uments. Critics of fintech suggest that
equire electronic hardware and internet
te socioeconomic biases by limiting their
ready affluent) users. A 2018 New York
ch.net that around 95 percent of Bitcoin
cryptocurrency owners.
tout its implications for social good. This
ing platforms can bolster charitable causes.
mous donor created an experimental philto
funnel $55 million in Bitcoin earnings to
ell have also updated their donations-procurrencies.
f the coin, there are clear implications for
social initiatives is by updating antiquated
en banking,” for instance, which encourages
PIs into big banks’ products, professes to
lations. Many large institutions are workers:
JPMorgan Chase & Co., for example,
l that uses intelligent data analysis to help
ir financial literacy.
waves in the fintech sector. Despite
shless in the U.S., on a global scale, mobile
, phone-based banking can be especially
in these areas lack access to a traditional
the population uses the Vodafone-sponsored
ions. In Mexico, a program called CoDi is
ancial autonomy.