Financial exclusion is a security risk. Candace Kelly, Stellar's chief legal officer, explains how blockchain reduces that risk, with examples from Ukrainian refugee aid and Haiti's unbanked population.
Candace Kelly, chief legal officer of the Stellar Development Foundation, explains why financial exclusion is a security risk and how blockchain reduces that risk. Drawing on nearly two decades in the Department of Justice and FBI, Kelly distinguishes blockchain (a transparent, auditable ledger) from cryptocurrency (one type of asset running on that ledger). Real-world examples illustrate the impact: Ukraine's UN refugee program avoids banking system collapse by using Stellar; Haiti's unbanked population gains financial access through digital wallets and MoneyGram cash conversion. Kelly also discusses tokenized money market funds like Franklin Templeton's FOBXX, which lowers investment minimums from $2,500 to $20, and emphasizes that blockchain doesn't exempt activities from financial regulations but makes them more transparent and auditable.
