Topic: Bitcoin can help low income countries? (Read 183 times)

Bitcoin can serve as a sort of value (investment) and medium of exchange (currency) alternative to local investments or currencies that may be unreliable or subject to manipulation or corruption or inflation that is overly erosive to spending power. These things are more common in developing countries but serve as a good "checks and balances" for developed countries.

Blockchain provides greater social impact by allowing greater trust in documents or information related to transactions.

For example, in a country where voter fraud or election corruption is prevalent blockchain technology could be incorporated to track votes and provide incredible security to prevent vote tampering. This doesn't ensure that coup attempt doesn't happen, but at least it keeps the vote pure and this is a start to solving political corruption problems.

Another example, if product supply chains are aligned with blockchain technology companies and consumers can ensure that materials used for products aren't sourced from illegal or unethical (blood diamonds) means.

I don't have to answer with a long essay.
Crypto currency (bitcoin and altcoins) can help a specific country if scammers all die and shitty projects get lost. That's the big help sir.

BTC is decentralization. It will help to become independent from the state. We will make a profit not on the state work

If cryptocurrency or Bitcoin becomes the main stream currency, then it would relief the pressure the low income countries, the dollar or euro have on them. They could pay off their debts and become a stable and wealthy nation. Am i right guys?

My country don"t recognize btc as future!Politicans just think that turism iz best option for making money.
If you earn some money online,goverment want 64% of that!!!!!!!!!!!!Lots of pepole from my country moved to Ireland or Germany.

I see plenty of good examples above,

To add on to that, cryptocurrency can help low income countries in another way. Think of all the people in poor countries currently having no identity, and no bank account because transfer fees are too high (70-80% sometimes).

People without an identity: There are various ICOs/Blockchain projects out there that are working on identity registration options on blockchain, to allow people without a working government or identity verify themselves through blockchain and have their accomplishments/experience registered on there as well.

As for bank accounts. Cryptocurrency allows people to make transactions with very small fee amounts. Whereas in some countries there is a huge fee for transaction and it even takes 2-3 weeks for the money to arrive. Whereas blockchain also allows people to make instant transactions only taking a few seconds.

Third, there are various projects out there creating a charity-form on the blockchain, allowing people to donate cryptocurrency for them to fund projects to help impoverished people.

These are just some examples and I know there are plenty out there, and plenty solutions to come! Hope to have given you some new information/thoughts

In my own opinion,probably yes! Bitcoin can help those countries experiencing a low income,because bitcoin can help people through providing profitable income. Increasing the number of people earning profits will dicrease the poverty in the country.

It depends on the government they allow. I am in Viet Nam, all the newspapers are saying negative about Bitcoin

Absoulutly agree with that steatment
Bitcoint price is so high if we compare it with money price of poor country. If one man have btc what he get from bounty project, it will help him to they money problem, jobless people would have sourch of  income, so that outomaticly could decrease poverty of once poor country.
Im so sorry if my english so bad 😥

I would agree with the statement that bitcoin can help low income countries in the Asia region and the Africa region....

I would not be surprised to see Japan and China becoming super powers in next 10 years

As squatter stated the big issue really lies within the big picture of how the whole world is dependent on the USD. You see things like BRICS which aims to get Brazil, Russia,India,China and South Africa to drop the USD as medium for international exchange and exchange value with each other.

Personally BTC could achieve this goal, but I think  we just need to see enough governments get tired of being at the mercy of the US to see the USD being dropped as an international reserve currency. Honestly gold or BTC are both much better candidates than the USD.  

From a small picture perspective, In oppressive countries it is their only means of exchange.  Look at Venezuela, Zimbabwe. People over there are really starting to use BTC on a large scale to trade. It also lets the middleclass get a shot at financial freedom.

If Bitcoin becomes a global reserve currency -- supplanting the USD in international settlements -- it could greatly improve the position of developing/exporting countries (the Global South). This is because USD monetary policy and the neoliberal international debt system are used to extract massive amounts of wealth from poor countries.

Consider the World Bank: It doesn’t lend money in domestic currency. It only lends USD, which is then used to buy US and European exports. This creates massive high-interest debts held by developing countries. So, eliminating USD hegemony would certainly level the playing field. It would end the implied incentive to purchase US exports over others and it would mitigate the debt bondage relationship.

And if Bitcoin or some other currency became a global reserve currency, it would also neuter the effect of US sanctions, which would help several poorer countries economically.


The issues I laid out above concern global geopolitical and macroeconomic dynamics. No altcoin projects remotely address these issues, and anyone that claims they do are just scamming you.

The only solution is global market adoption of a decentralized currency (like BTC or something else) that can end US economic hegemony by displacing the USD as a reserve currency. It's not a matter of technology. It's a matter of adoption.

How Bitcoin can be helpful in a social perspective? Any type of projects providing positive changes, in countries that needs the most?