How Baanx Can Fix Digital #banking With #blockchain Technology
▻https://hackernoon.com/how-baanx-can-fix-digital-banking-with-blockchain-technology-8b19d22115b
This Paid Story is brought to you by Baanx.The banking industry is becoming increasingly centralized, a trend that the 2008 financial crisis accelerated. One in four independent U.S. banks disappeared between 2008 and 2015. Even larger banks are cutting down on their brick-and-mortar presence: 1,700 U.S. bank branches shut down between June 2016 and June 2017.As banks consolidate and locations close, many communities wind up becoming “banking deserts.” Residents of banking deserts have few options for essential financial services such as fair access to credit or safe storage of their savings, which forces them to fall back on predatory service providers (such as payday lenders) while communities who enjoy banking access can use bank services to build their wealth further. Banking access (...)