Why cant “offshore shell corporation” tax avoidance methods used by the wealthy be used by the working class? Is it just because it’s cost prohibitive to set up?
In: Economics
Access to advanced financial instruments and strategies that have traditionally been only available to wealthy people will (has the potential) become much more available through Decentralized Finance (DeFi) applications built on blockchains (crypto currency). Borrowing/lending, insurance, banking services, etc. is already accessible to anyone involved in the crypto space, but it is not yet widely adopted or easy enough for a casual consumer to use. DeFi also includes Decentralized Exchanges (DEX) that allow anyone to trade their crypto assets directly on the blockchains without any 3rd party bank or institutional involvement. It can be the democratization of finance to millions/billions of people.
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