Stellar expressed, Financial literacy is fundamental to creating equitable access to the financial system. This National Financial Capability Month, we share the importance of building the financial tools and empowering people with the knowledge to use them.

It is well known that Stellar are a non-profit organization.  They have a mission of creating equitable access to the global financial system.  However, there is no clear idea of how to create the equitable access?

Stellar claims that they have the ability to unlock the economic potential of the world by making money more fluid, making the markets more open, and eventually empowering people. In order to connect the financial infrastructure of the world, it is important to make low-cost financial tools available to all the communities across the world. They call all of these as their recipe for creating equitable access.

Stellar’s technology believes that financial literacy is the fundamental ingredient to create equitable access. Without the knowledge to use financial tools, it is not possible for people to use them and eventually we cannot empower them.

The Biden administration are focusing on shining light on financial literacy. April is celebrated as National Financial Capability Month.

Seth Hertlein, reinstates on how financial literacy is not a new challenge.  Through several times like the Global Financial Crisis of the past, the Covid-19 crisis of the present people were simply not equipped to deal with an alternative financial access or financial literacy to deal with things. Anytime when a financial set back happens, things can get very hard. Those who do not have the sufficient financial knowledge will not be able to recover from the crisis.

If technologies like the blockchain should be able to deliver its financial goals, it is important for people to get financially educated.  Financial literacy related issues not only exist in developing countries, but they exist in developed countries too. There are many people who are not sure of how to make use of the tools and services currently available.

Education is important to get people to understand the technology better. The Stellar Development Foundation are working to identify partnerships and volunteer opportunities with organizations who are willing to improve on financial literacy.  They are looking for organizations who are already delivering financial literacy to the communities.

The most important thing is that Stellar are looking to advocate for legislation which will prioritize financial literacy education.  They also feel that they need legislation that will support with the necessary funding for the same.