Financial Literacy Plus New Purchasing Power, How Ledger Economics can End Poverty and Promote Continuous Economic Improvement

Abstract

Financial Literacy plus new purchasing power can drive rapid and environmentally sustainable, local-to-global, economic development. Historically, new technologies promote new forms of money and commerce that usher in new economic eras. This chapter is for leaders and innovators in financial services and sustainable economic development. It reveals an emerging era of sustainable prosperity for all. The world can now eradicate centuries-old poverty and inequality at the pace of mobile apps and social media. The funding for this paradigm shift is a next-generation financial instrument and not higher taxes, deeper debt, or redistribution of wealth schemes. The chapter introduces the first token-less ledger currency that is distributed through a public Business-Community Wealth Ledger (BCWL). Dual Currency transactions integrate fiat currencies with wealth-backed ledger currencies, monetizing and mobilizing currently underutilized business resources and increasing profits for participating businesses.