![](https://clsbluesky.law.columbia.edu/wp-content/uploads/sites/2/2021/03/hughes-e1616700794650.jpg?w=150&h=176&crop=1)
How Blockchain-Based Financial Markets Can Create Systemic Risks That Harm Lower-Income People
Blockchain-based platforms create exciting possibilities for financial inclusion: widespread ownership of deposit accounts and access to payments services. From a macro-level perspective, however, these platforms can aggravate systemic risks. Systemic instability, in turn, threatens financial inclusion and sustainability.
Sustainable finance, …