One of the primary goals of financial technology is “financial inclusion.” This goal seeks to provide access to financial services to billions of people who are considered “unbanked.” This is a noble goal indeed, because access to money is the foundation for participating in the economy.
This brings up a very important question: What type of money should they have access to?
In a free and open world, everyone should have a choice of what type of money they use to meet their personal financial goals. This means access to national currencies, cryptocurrencies, complementary currencies, and of course – gold and silver bullion.
Gold and silver as money have been an important part of the global economy throughout recorded history. Unfortunately, over the last one hundred years, access to these precious metals has been restricted. At times this restriction has been by government decree as was the case in the United States between 1933 and 1974.
More recently it has been restricted by other types of “friction.” This includes people’s general lack of understanding of the importance that gold and silver have played in the global monetary system throughout history. It also includes the difficulty in sorting through a complex and obscure retail market.
At OWNx, we have designed our Automatic, Now, Employee Benefit, and IRA products to remove this friction. Using technology to provide safe, smart, simple access to gold and silver is our contribution to FinTech’s goal of financial “inclusion.” More people now have access to an important form of money, and that’s a win for everyone.