Youxia Gives Back
If there is hope, wrote Winston, it lies in the proles.
If there was hope, it must lie in the proles, because only there in those swarming disregarded masses, 85 percent of the population of Oceania, could the force to destroy the Party ever be generated. The Party could not be overthrown from within… But the proles, if only they could somehow become conscious of their own strength, would have no need to conspire. They needed only to rise up and shake themselves like a horse shaking off flies. If they chose they could blow the Party to pieces tomorrow morning.
1984, GEORGE ORWELL
There are 1.7 billion unbanked people in the world. This means 1 out of 5 people don’t have a bank account.
There are 4.3 billion underbanked people in the world. This means 1 out of 2 people have a bank account but they don’t rely on it. Instead, they use cash and alternative financial services.
In total, that’s 6 billion people. 3 out of 4 people in the world don’t have access to, nor use, traditional banking methods that those in the West take for granted.
What would happen if 6 billion people adopted bitcoin en masse? It would be a decentralized revolution.
After Nixon stopped the convertibility of dollars into gold, the U.S. convinced Saudi Arabia to only accept dollars for their oil production, and in return, the U.S. would provide military support. Eventually all oil producing nations followed suit and now the only way to buy oil is with dollars. This created a demand for dollars and in essence the dollar became backed by oil. This led to all commodities being sold in dollars and maintaining the status quo of the dollar as the world’s reserve currency.
It worked because Saudi Arabia is the world's largest oil producer, oil is one of the largest markets in the world, and oil is crucial to the world economy.
More vital to the world economy, and even larger than the oil market, is the labor market.
The labor market is the 6 billion unbanked and underbanked people in the world. The world economy could exist without oil but it can’t exist without labor.
What if the unbanked demand payment in bitcoin?
Just like Saudi Arabia demanding payment in dollars, if the labor market demands payment in bitcoin, it will create a world wide demand for bitcoin.
Or, what if the unbanked simply convert their fiat currency paychecks immediately into bitcoin to protect themselves from inflation and capital controls?
It’s already happening.
Third world countries are the main adopters of bitcoin. In countries like Venezuela, Argentina, Turkey, and Nigeria, residents are suffering from high inflation rates and capital controls. They’re turning to bitcoin as a store of value and to protect themselves from their banking systems. El Salvador and Central African Republic have declared bitcoin legal tender, with several more countries rumored to follow suit. The people who bitcoin can help the most are starting to use it.
The Saudi’s only represented 20% of the world’s oil production yet it was enough to get all the world’s oil production priced in dollars. The bankless represent 75% of the world’s population therefore only a fraction of them need to adopt bitcoin to make it a reserve currency.
If there is hope, it lies in the unbanked.
Bitcoin has no marketing team and no marketing budget. Yet, bitcoin is one of the most successful brands in history. Its success is due to word of mouth, due to people passionate about freedom and spreading the message.
Bitcoin’s marketing is decentralized.
Youxia Crypto is doing its part to contribute to the decentralized marketing of crypto by donating a portion of its revenue towards educating the unbanked on financial literacy and crypto. As a client, view this as a form of cash back. By helping onboard the unbanked into crypto, you help them save, grow, and protect their wealth. While at the same time contributing to the success of your own investment. You win, the unbanked win, the world wins.
Join the Decentralized Revolution