Traditional Banking will always have its limitations because of its centralized nature. PayPal and Venmo have built platforms on an obsolete system which does not empower the user with true monetary sovereignty. The custodian still holds an individual's funds, the outcome of that especially in developing countries is a restriction on what said person can do with his or hers wealth. Without complete control of ones financial future you will always be at the behest of a centralize institution that has proven itself historically incapable of managing that responsibility.
Cryptocurrency has already proven itself to be a clear alternative in countries that suffer from high inflation, have been cut-off by the banking world for political reasons(sanctions), lack of traditional banking infrastructure and all you need to do to participate is download a wallet app on your mobile device. Just with that simple mobile wallet app of their choice they can send/receive money to anywhere around the world for pennies, no questions asked.
The system needs a new foundation, not building new solutions on already fundamentally broken one.
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