bankless
Lacking financial institutions
Bankless describes operating without a traditional bank account or outside the conventional banking system.
The term gained currency with cryptocurrency and decentralized finance, where enthusiasts advocate for financial systems that bypass banks entirely: The bankless movement promotes self-custody of digital assets.
It can also describe populations lacking access to banking services.
Lacking single authority
- cryptocurrencyEncrypted decentralized money
- walletSmall case for currency
- non-custodialWithout legal guardianship
- tokenRepresentative placeholder
peer-to-peer · trustless · staking · permissionless · web3 · ledger · protocol · liquidity
Direct goods-for-goods exchange
- cooperativeJointly operated enterprise
- credit-unionMember-owned financial cooperative
- microfinanceSmall loans for poor entrepreneurs
- self-reliantAble to provide independently
Lacking full financial services
- remittanceFunds sent elsewhere
- unrecordedNot written down
- subsistenceMinimal means of living
decentralized
Lacking single authority
- cryptocurrencyEncrypted decentralized money
- walletSmall case for currency
- non-custodialWithout legal guardianship
token · peer-to-peer · trustless · staking · permissionless · web3 · ledger · protocol · liquidity · airdrop
barter
Direct goods-for-goods exchange
- cooperativeJointly operated enterprise
- credit-unionMember-owned financial cooperative
- microfinanceSmall loans for poor entrepreneurs
self-reliant · off-grid · voucher · IOU
underbanked
Lacking full financial services
- remittanceFunds sent elsewhere
- unrecordedNot written down
- subsistenceMinimal means of living