Blockchain Revolution

Chapter 7: Solving the Prosperity Paradox: Economic Inclusion and
Entrepreneurship

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1
. http://datatopics.worldbank.org/financialinclusion/country/nicaragua.
2
. www.budde.com.au/Research/Nicaragua-Telecoms-Mobile-and-Broadband-Market-Insights-and-Statistics.html.
3
. “Property Disputes in Nicaragua,” U.S. Embassy,
http://nicaragua.usembassy.gov/property_disputes_in_nicaragua.html. There are an estimated thirty thousand
properties in dispute.
4
. Interview with Joyce Kim, June 12, 2015.
5
. Ibid.
6
. Ibid.
7
. www.worldbank.org/en/news/press-release/2015/04/15/massive-drop-in-number-of-unbanked-says-new-report;
and C. K. Prahalad, The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits
(Philadelphia: Wharton School Publishing, 2009). This figure is an estimate.
8
. Interview with Joyce Kim, June 12, 2015.
9
. www.ilo.org/global/topics/youth-employment/lang—en/index.htm.
10
. Thomas Piketty, Capital in the Twenty-First Century (Cambridge, Mass.: Belknap Press, 2014).
11
.
www.brookings.edu/~/media/research/files/papers/2014/05/declining%20business%20dynamism%20litan/declining_business_dynamism_hathaway_litan.pdf.
12
. Ruth Simon and Caelainn Barr, “Endangered Species: Young U.S. Entrepreneurs,” The Wall Street Journal,
January 2, 2015; www.wsj.com/articles/endangered-species-young-u-s-entrepreneurs-1420246116.
13
. World Bank Group, Doing Business, www.doingbusiness.org/data/exploretopics/starting-a-business.
14
. Interview with Hernando de Soto, November 27, 2015.
15
. www.tamimi.com/en/magazine/law-update/section-6/june-4/dishonoured-cheques-in-the-uae-a-criminal-law-
perspective.html.
16
. www.worldbank.org/en/topic/poverty/overview. To be precise, it was 1.91 billion in 1990.
17
. http://digitalcommons.georgefox.edu/cgi/viewcontent.cgi?article=1003&context=gfsb.
18
. http://reports.weforum.org/outlook-global-agenda-2015/top-10-trends-of-2015/1-deepening-income-
inequality/.
19
. Ibid.
20
. Interview with Tyler Winklevoss, June 9, 2015.
21
. Congo, Chad, Central African Republic, South Sudan, Niger, Madagascar, Guinea, Cameroon, Burkina Faso,
Tanzania; http://data.worldbank.org/indicator/FB.CBK.BRCH.P5?
order=wbapi_data_value_2013+wbapi_data_value+wbapi_data_value-last&sort=asc.
22
. www.aba.com/Products/bankcompliance/Documents/SeptOct11CoverStory.pdf.
23
. http://www.nytimes.com/2015/12/24/business/dealbook/banks-reject-new-york-city-ids-leaving-unbanked-on-
sidelines.html.
24
. E-mail correspondence with Joe Lubin, August 6, 2015.
25
. David Birch, Identity Is the New Money (London: London Publishing Partnership, 2014), 1.
26
. E-mail correspondence with Joe Lubin, August 6, 2015.
27
. Interview with Joyce Kim, June 12, 2015.
28
. Interview with Hernando de Soto, November 27, 2015.
29
. Interview with Haluk Kulin, June 9, 2015.
30
. E-mail correspondence with Joe Lubin, August 6, 2015.
31
. Interview with Balaji Srinivasan, May 29, 2014.
32
. www.doingbusiness.org/data/exploretopics/starting-a-business.
33
. Interview with Haluk Kulin, June 9, 2015.
34
. Analie Domingo agreed to let us shadow her as she went through her normal routine of sending money home
to her mother in the Philippines. Analie has been an employee of Don Tapscott and Ana Lopes for twenty years
and is also a close friend.
35
. www12.statcan.gc.ca/nhs-enm/2011/dp-pd/prof/details/page.cfm?
Lang=E&Geo1=PR&Code1=01&Data=Count&SearchText=canada&SearchType=Begins&SearchPR=01&A1=All&B1=All&Custom=&TABID=1.
36
. https://remittanceprices.worldbank.org/sites/default/files/rpw_report_june_2015.pdf.
37
. The remittance market is $500 billion; average fees of 7.7 percent translate to $38.5 billion in fees.

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38
. Dilip Ratha, “The Impact of Remittances on Economic Growth and Poverty Reduction,” Migration Policy
Institute 8 (September 2013).
39
. Adolf Barajas, et al., “Do Workers’ Remittances Promote Economic Growth?,” IMF Working Paper,
www10.iadb.org/intal/intalcdi/pe/2009/03935.pdf.
40
. “Aid and Remittances from Canada to Select Countries,” Canadian International Development Platform,
http://cidpnsi.ca/blog/portfolio/aid-and-remittances-from-canada/.
41
. World Bank Remittance Price Index, https://remittanceprices.worldbank.org/en.
42
. 2011 National Household Survey Highlights, Canadian Census Bureau,
www.fin.gov.on.ca/en/economy/demographics/census/nhshi11-1.html.
43
. https://support.skype.com/en/faq/FA1417/how-much-bandwidth-does-skype-need.
44
. Interview with Eric Piscini, July 13, 2015.
45
. http://corporate.westernunion.com/Corporate_Fact_Sheet.html.
46
. At the time of writing, Abra had not opened its doors in Canada. However, we were able to test Abra’s
technology with Analie and her mother successfully with Abra’s help.
47
. Interview with Bill Barhydt, August 25, 2015.
48
. Ibid.
49
. Ibid.
50
. “Foreign Aid and Rent-Seeking, The Journal of International Economics, 2000, 438;
http://conferences.wcfia.harvard.edu/sites/projects.iq.harvard.edu/files/gov2126/files/1632.pdf.
51
. Ibid.
52
. www.propublica.org/article/how-the-red-cross-raised-half-a-billion-dollars-for-haiti-and-built-6-homes.
53
. “Mortality, Crime and Access to Basic Needs Before and After the Haiti Earthquake,” Medicine, Conflict and
Survival 26(4) (2010).
54
. http://unicoins.org/.
55
. Jeffrey Ashe with Kyla Jagger Neilan, In Their Own Hands: How Savings Groups Are Revolutionizing
Development (San Francisco: Berrett-Koehler Publishers, 2014).
56
. E. Kumar Sharma, “Founder Falls,” Business Today (India), December 25, 2011;
www.businesstoday.in/magazine/features/vikram-akula-quits-sks-microfiance-loses-or-gains/story/20680.html.
57
. Ning Wang, “Measuring Transaction Costs: An Incomplete Survey,” Ronald Coase Institute Working Papers 2
(February 2003); www.coase.org/workingpapers/wp-2.pdf.
58
. www.telesurtv.net/english/news/Honduran-Movements-Slam-Repression-of-Campesinos-in-Land-Fight-
20150625-0011.html.
59
. USAID, the Millennium Challenge Corporation, and the UN Food and Agriculture Organization.
60
. Paul B. Siegel, Malcolm D. Childress, and Bradford L. Barham, “Reflections on Twenty Years of Land-
Related Development Projects in Central America: Ten Things You Might Not Expect, and Future Directions,”
Knowledge for Change Series, International Land Coalition (ILC), Rome, 2013; http://tinyurl.com/oekhzos,
accessed August 26, 2015.
61
. Ibid.
62
. Ambassador Michael B. G. Froman, US Office of the Trade Representative, “2015 National Trade Estimate
Report on Foreign Trade Barriers,” USTR.gov, April 1, 2015;
https://ustr.gov/sites/default/files/files/reports/2015/NTE/2015%20NTE%20Honduras.pdf.
63
. Interview with Hernando de Soto, November 27, 2015.
64
. http://in.reuters.com/article/2015/05/15/usa-honduras-technology-idINKBN0O01V720150515.
65
. Interview with Kausik Rajgopal, August 10, 2015.
66
. World Bank, “Doing Business 2015: Going Beyond Efficiencies,” Washington, D.C.: World Bank, 2014; DOI:
10.1596/978-1-4648-0351-2, License Creative Commons Attribution CC BY 3.0 IGO.
67
. “ITU Releases 2014 ICT Figures,” www.itu.int/net/pressoffice/press_releases/2014/23.aspx#.VEfalovF_Kg.
68
. www.cdc.gov/healthliteracy/learn/understandingliteracy.html.
69
. www.proliteracy.org/the-crisis/adult-literacy-facts.
70
. CIA World Factbook, literacy statistics, www.cia.gov/library/publications/the-world-
factbook/fields/2103.html#136.

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