Today, some 1.7 billion people around the world lack access to one of the most basic building blocks of prosperity: a bank account. As the use of crypto and blockchain technologies expands globally, there’s an opportunity to drive financial inclusion and climate resilience by transforming the core infrastructure that affects how financial products and services are delivered.

For people without access to any form of financial services, the inability to save money safely or trade beyond cash in hand can leave them caught in a poverty trap that’s almost impossible to escape. Meanwhile, the World Bank predicts that by 2030, climate change will push 100 million more people into poverty, with low-income countries bearing 75-80% of climate impact costs. This is where crypto and blockchain come in.

A more financially secure individual is better equipped to withstand climate disruption. Through mobile-based fintech innovation, people displaced by climate change can access financial services on the move. Through blockchain applications, smart contracts can automatically trigger insurance payouts when a hurricane or other extreme weather event occurs. Through digital assets and crypto, people can quickly and easily store, save, and transfer value when climate shocks hit.

So, what does this look like in reality? In Kenya, where 68% of the population is below the age of 35 and most young people are left out of the formal economy, digital microwork offers new opportunities for people to earn additional income by completing tasks via their smartphones. Digital microwork is a type of labor that can be performed on mobile phones, where global firms outsource and break up complex projects into small tasks that can be completed at any time. However, slow payments and high transaction costs can take up to 30% of an individual's earnings.