Tron: The Best Blockchain for Banking the Unbanked
According to Qiao Wang, customer support at Alliance DAO, Tron is the blockchain that has successfully banked the unbanked population worldwide. While Ethereum, Bitcoin, and Solana may be too volatile, expensive, or new for people in developing countries to use, Tron stands out as a fast, cheap, and established platform. On-chain data and stablecoin activity confirm that Tron is the preferred choice for making payments and sending money to families using USDT. Tron’s success can be attributed to its improved structure and early support for USDT. With Ethereum facing congestion and high fees, many users have migrated their USDT trading activity to Tron due to its low transaction costs.
Justin Sun’s Vision to Serve 8 Billion People
Nic Carter of Castle Island Ventures agrees with Qiao Wang’s assessment of Tron’s suitability for banking the unbanked. However, Carter believes that intermediaries such as fintechs and banks will eventually end the era of consumer blockchains like Tron due to their role in stablecoin transactions. Justin Sun, co-founder of Tron, envisions serving 8 billion people globally through the platform. Although still in its early stages of development, Tron is committed to realizing this objective. Currently, there are over $48.8 billion USDT in circulation on Tron compared to $39.7 billion on Ethereum.
Hot Take: Tron’s Impact on Financial Inclusion
Tron has emerged as a leading blockchain platform for banking the unbanked population across the world. Its fast transaction processing, low costs, and support for stablecoins have made it an attractive option for users in developing countries. By providing access to financial services and enabling seamless money transfers, Tron is playing a significant role in promoting financial inclusion. However, the rise of intermediaries in the stablecoin space may pose challenges to consumer blockchains like Tron in the future. Nonetheless, Tron’s commitment to serving billions of people indicates its dedication to expanding access to financial services and driving global economic empowerment.
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