"democratize America's financial system..." - Baiju Bhatt (co-founder of Robinhood)
This is great - to see how the FinTech industry is finally creating a channel for Main Street to challenge Wall Street. Even if Robinhood fails, it will be for the betterment of society and show other fintech companies how to continue empowering the average American.
The American Economy
Far too long, banks have been the middle man of the American economic system and controlling the middle class (as well as the poor class). If you're like me, then you too were also pissed about how our federal government bailed banks out of the crisis they caused back in 2008 during the housing bust. And banks had no reviving method except through America's hardworking taxpayers' money (i.e. taxes). So, our American government continues to support an outdated financial system that doesn't help each American citizen. In the same way politics is starting to reshape, it's about time our economy also reshapes in interest for the American people (and not just American rich people).The Global Economy
Even though this is centered on America, like most technologies this will become an international influence and make other national economies figure out how to empower citizens and advance the international economy including laws with international trade. After all, the world is more globally integrated and it's time our governments figured how to let people buy/sell without having to worry about import/export regulations (which in many ways don't really protect people but only super rich people). Economic justice needs to be practiced. It's already in demand.Cheers!
No comments:
Post a Comment