How Cardano could fast-track financial inclusion in emerging economies

Biometrics using smartphones or desktops is a must to avoid identity theft and fraud. Biometrics is already on the cards for Atala Prism per website.

Biometrics with Atala Prism could be massively beneficial to Cardano:

  1. It could be a solution to the current Stake Pool Centralization that we are watching unfold before our eyes. The solution being Digital IDs required for Operators (including biometrics) and a limited number of pools per Operator.

  2. Thin edge of the wedge for developing country adoption. As a South African, I can honestly say the barriers to entry to potential technically sound, smart, zulu/xhosa/etc speaking individuals living in a township becoming an stake pool operator are pretty high. Does anyone honestly believe that they will be able to attract stake as easily as someone in the developed world? Or have the wealth to buy ADA to stake to their pool? Do you think people in developing countries will be comfortable with just about all staked ADA and SPOs being located outside their region? And anonymous to boot?

  3. Business and KYC as alluded to in this article for inclusive finance.

Probably a 100 more benefits that people could think of. Identity is taken for granted in the western world.

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