The Stellar Development Foundation, in partnership with PricewaterhouseCoopers International (PwC), has introduced a financial inclusion framework for evaluating the effectiveness of blockchain initiatives in emerging markets.

This framework, which identifies access, quality, trust, and usage as crucial factors for promoting financial inclusion, was developed based on research conducted in Colombia, Argentina, Kenya, and the Philippines.

According to their findings, blockchain solutions focused on payments and savings have proven to be particularly successful. The former has significantly reduced fees to 1% or even less, thereby increasing accessibility.

The latter has allowed users in countries affected by inflation, such as Argentina, to safeguard their wealth.

Various organisations like UNICEF have shown interest in supporting blockchain projects that aim to promote financial inclusion, funding eight such initiatives.

However, Stellar and PwC emphasize that without a comprehensive framework in place to assess their impact, many projects may fall short of achieving genuine financial inclusion.