🚨 5.6 million households in the U.S. lack bank accounts: Who will address financial exclusion?
Every year, thousands of consumers have their accounts closed by banks without warning,
6% of bank accounts are 'involuntarily closed'!
—— This is a warning from the latest data from CFPB and FDIC ⚠️
Banks say it's 'risk control,' but the real risk is kicking thousands of people out of the financial system.
Yves La Rose, CEO of Vaulta Foundation, states:
'Web3 is not here to replace banks, but to help banks upgrade.'
✅ Vaulta's answer: Compliance, transparency, scalability
• No 'black box decision-making,' but an auditable access mechanism • Support banks in compliant access, meeting modern financial regulatory requirements • A new financial network built on exSat & Vaulta, opening doors for the excluded
📢 Small businesses, freelancers, entrepreneurs, especially participants in emerging industries, finally have options.
The old system excludes you; Vaulta wants to connect you.
**What are your thoughts on the gray area of financial exclusion and 'reputation screening'? Can Web3 really solve this issue?** 👇 Feel free to comment and discuss