Part 2: The Tradition FInancial system iexcludes almost half the world from participation.
Why?
The Traditional FInance system can't send real money, only a promise to pay money. So this system relies on trustworthiness, credit worthiness and a third party guranteeing both parties performance. This limits where it go and who it can benefit.
The IMF reports almost half the world's population can't be served by SWIFT and similar systems of the traditional money transfer system. The IMF thinks this has a big impact on global economic development, and hinders the IMF from erradicating poverty.