Coinbase Pitches Crypto As a Solution for Racial Inequality in Finance

To mark Black History Month, Coinbase has launched an advertising campaign with the pitch that cryptocurrencies can help tackle racial injustice in the financial sector.

As part of the campaign, the exchange published a blog post on Feb. 13 with the results of a survey it conducted in the United States and United Kingdom.

The crux of Coinbase’s survey centers on the notion that blockchain and cryptocurrencies, as trustless technologies with pseudonymous functionality, would be more color-blind than traditional financial services. 

Based on a sample of 5,126 respondents, Coinbase’s data appears to indicate that just one in three Black Americans perceive the financial system as equally accessible to people of all ethnicities. 

Moreover, twice as many Black Americans reported that they had been negatively impacted by their race or gender within the traditional financial system — 48% as compared with 24% of White Americans.

This negative experience ostensibly translates into an…