Cryptocurrency has existed for over a decade and has become a buzzword and one of the most popular means to make digital transactions. In addition, cryptocurrencies are decentralized, which means no government or financial institution can regulate them. Dan Schatt and Domenic Carosa, fintech veterans and experts of DeFi startup Earnity, make crypto an attractive option for people who are not usually granted access or permission to open accounts with traditional financial institutions.

Over the past few years, cryptocurrency has captured the public’s attention, and for good reasons. Unlike traditional finance, crypto promises fraud-proof transactions all the time. It uses blockchain technology that verifies and records transactions in a public ledger. The identities of users are encrypted to secure the validity of the reporting.

When transactions are fraud-proof, there is no space for identity theft. Cryptocurrency employs blockchain technology, securing digital transactions through encryption and smart contracts, making transactions void of fraud. The purpose of cryptocurrency is to deliver financial services that are decentralized, democratic, and inclusive. Its objective is to become accessible to users worldwide. Dan Schatt and Domenic Carosa of Earnity, want the estimated two billion people worldwide who have access to the internet to buy crypto. However, they are unable to use traditional and centralized exchange systems. Such individuals are welcome in the cryptocurrency market.

People’s money and other assets are rarely genuinely owned by them. With centralized finance, every transaction requires an intermediary via insurers, brokers, and other mediators. Cryptocurrency rids the financial system of gatekeepers, which means an individual enjoys full ownership of their assets.

Cryptocurrency, including the blockchain economy, is valued at over a hundred billion dollars. The industry’s proponents champion its mass adoption, with global companies, developers, and users supporting the move. While there may still be issues regarding its permissionless and trustless qualities, there is no doubt that cryptocurrency seeks to provide access and better financial services to global users.