Alternative Solutions Found to Help Eradicate Effects of Low Financial Literacy & Poverty

LOS ANGELES, March 23, 2023 (GLOBE NEWSWIRE) -- Axis Entertainment, Inc. today published The White Paper on Global Influences Impacting Financial Literacy, Alternative Solutions Impacting the Social & Financial Stability Relating to Current Economies & Currencies in conjunction with Motiv, Inc. showing the influence low financial literacy rates have on economic health and stability in multiple countries while presenting a possible solution for those that have low financial acumen.

The study compared financial literacy rates amongst several countries to determine whether financial literacy influences populations, finding statistics that consistently correlate with other measures in the White Paper.

Data found to correlate with financial literacy include

• homicides
• populations’ access to different banking services
• the Business Freedom Index
• the Financial Freedom Index

The statistics were useful as their scores were impacted by several financial factors, further strengthening the correlation between financial literacy and other statistics discussed. When used together in the study, the data showed a significant relationship between the respective countries' financial literacy and economic health and stability. This research also reveals how increased financial literacy may improve a country’s economic health, stability and quality of life.

In addition to comparing countries based on their respective financial literacy, the paper also compares countries based on the size of their economy. This comparison is made by analyzing statistics of Peru against four of the largest countries (based on their share of the world’s GDP) and showing differences between countries based on the size of their economy.

Data found to correlate with the difference in sizes of an economy based on GDP included

• Z-scores
• unemployment rate
• Innovation Index
  

The statistics in this group showed a correlation with the size of each country’s respective economies, mainly a significant difference between Peru’s statistics with the other four countries.

With the influence of financial literacy explained, the White Paper outlines a use-case project championed by Motiv, Inc., an NGO focused on using education to address poverty and poor personal financial management. Motiv's project aims to increase financial literacy by developing Bitcoin circular economies within designated areas of Peru. Using Bitcoin as a tool, Motiv teaches participants basic personal financial skills (with the opportunity to advance their education afterward), providing them the means to cultivate their roles in their respective community's circular economy and create a viable financial footing for themselves. Participants can contribute to Peru's current economy as they grow the skills and knowledge acquired from the program. The White Paper also shows that a more financially informed and able populace is better conditioned to help stimulate a country’s economy and improve its quality of life.

The White Paper discusses the project's progress in Peru, the initial country where Motiv is employing its project and explains how the project’s rapid growth and success within Peru to date indicates the potential as a tool for improving financial literacy and decreasing the severity of problems associated with having a lack of financial understanding.

To request a full version of the White Paper, please contact info@axis-entertainment.com