Jessica Versteeg Instagram – Another great panel from #blockchainweek in #NewYork! We talked about everything from cannabis on the blockchain @paragoncoin to the future of cryptocurrency. In this clip I was talking about banks and and what they are doing to the poor. The question was, where do I see bitcoin in 5 years? It may be hard for some of you to believe, but there are two billion people in the world that still do not have a bank account. This means they do not have access to the security a bank can provide or the convenience of paying a bill online. What’s even more shocking is that there are many people in the US that do not have a bank account. Without access to savings and credit, these people cannot participate in the virtuous cycle of economic growth, this is just one of many vicious cycles that is keeping the poor, poor. Part of this evil banking cycle that keeps the poor, poor is when the banks charge people for not maintaining a minimum balance, basically not having enough money. Anywhere from $5 to $25 per month (that’s a lot when you are living paycheck to paycheck). Imagine paying your own way through college, rent, insurance, food, books, mwhatever college kids have to pay for, working nights while going to school all day and living paycheck to paycheck. Then imagine a bank charging you for not maintaining the balance they want you to have. All while knowing the bank is playing with your money (Banks use the money deposited by their customers to make money, both directly and indirectly). Imagine being a single mom, working 2 jobs, raising 3 kids, living paycheck to paycheck. Just trying to keep food on the table, a roof over the head of the children she wants to protect, paying for school activities, clothes for kids that keep growing, and then seeing the bank is charging you for not maintaining the minimum balance (shout out to my mom!). All while knowing when she deposits her hard earned money, the bank is turning around and investing her hard earned money by giving loans to other bank customers so they can earn interest — yet she does not have enough to take out a loan for herself.