Why is this Exodus Taking Place?
The Modern Pharaoh: Banks
Just as the pharón in ancient biblical tales imposed burdens and chains, modern banks concentrate power, charging excessive fees and prioritizing their interests over those of their clients. Since the 2008 crisis, many have awakened to an uncomfortable truth: the system meant to protect them often abandoned them, forcing them to look after themselves and their need for public tax rescues.
The Forgotten People: The Financially Excluded
According to the World Bank, 1.4 billion adults live outside the formal banking system, trapped in marginalization. Much like the Israelites in Egypt, many seek to escape, and today digital wallets, cryptocurrencies, and DeFi platforms are their open path.
The Promised Land: Yields and Empowerment
While banks offer yields barely keeping up with inflation, decentralized platforms open exciting possibilities: staking, liquidity pools, P2P loans. It’s not a risk-free journey, but for those who dare, the rewards can be significant.
Moses’ Staff: Blockchain and Smart Contracts
Blockchain technology and fintech companies open previously unimaginable paths: it eliminates intermediaries, provides transparency, and returns power to the user’s hands. Today, all one needs is a smartphone and internet connection to participate in a truly global economy.
What Do They Find on This Journey?
- Platforms enabling asset lending and exchange without intermediaries
- Stablecoins acting as safe havens against volatile currencies
- DAOs allowing communities to organize and govern autonomously
Risks and Challenges of the Desert
As with any exodus, this path has dangers: lack of regulation attracts scammers; volatility can exhaust the unwary; and lack of financial education can turn the journey into a painful loss. Crossing the desert requires preparation, knowledge, and discernment.
The True Meaning of the Financial Exodus
It’s not just about escaping the old system but being part of building a new one: more fair, efficient, and inclusive. Institutions that want to survive must not resist but transform, collaborating with new tools and regaining lost user trust.
So, which do you prefer: to stay in Egypt because it’s familiar or dare to learn, understand, and explore? Today, more than ever, education and conscious decisions are your own act of liberation.
Take the step, we’ll meet in the promised land.
Dante Eludier Vargas Caro
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