ICO Today Magazine News
For centuries banks have exercised a stranglehold on the underprivileged and created a system of suppression and exploitation. In order to be able to participate in the banking system people were forced to hand over their assets to a group of irresponsible gamblers at best or white collar criminals at worst. Banks designed a system to punish people who own less and subsidize people who own more. The less money you have, the higher the costs to access banking services – from interest rates to account fees. If you are wealthy, most fees are waived and interest rates are low. This dichotomy keeps the underprivileged trapped in a vicious cycle out of which there is no escape.