Topic: Bitcoin's Impact on South Asian Economies. (Read 362 times)

Crypto and Bitcoin is not a magic lamp that can fix countries' economic problem instantly. Bitcoin and crypto might help to give option for international transaction that help individuals, but in macro scale economic  problem in a country is far more complex, even when a government' legalized Bitcion and Crypto as investment instruments, or even use it as legal tender, there are a lot of other thing that is needed to be fixed, corruption, bad policies, illegal export and import, etc.

Most Asian countries believe in Bitcoin and cryptocurrency. Hong Kong recently opened a local exchange in their country; what about Singapore too, and especially the Philippines? There are many crypto believers in this country.

This means that the spread of innovation in blockchain technology in Bitcoin or cryptocurrency cannot be stopped. And his dominance is also sure to continue in the coming days and times.

Are you referring to rural areas? I'm not surprised if people who live in the countryside don't know much about crypto, or even the latest tech in general. At the very least, in my region, those who live in rural areas don't really have any incentive to research more unless they want to increase their living condition. Most of them will move to the city though since the internet is not really good and quite expensive for them. Those who know Bitcoin without moving to a city are quite few, probably know from their family or friends from the city too.

I believe that you are referring to this Platform "BITCOINTALK" instead of bitcoin mate because when you call those
 people living are very poor means Bitcointalk.org gives them opportunity not only to opening their forehead but also
their Pocket to earn from this forum as some are participating in bounties and other profit giving event .
who declares war against Countries? Miner or bitcoin? or the government instead?  regulations have been in the system for long but they cannot stop bitcoin from spreading and being used .
Large companies are there to mine but still the circulation of bitcoin around the world comes from users and believers like us .

Those who are counted as poor people also have a poor mindset and are closed-minded to cryptocurrency and Bitcoin. But if you have a good mindset in your mind, even if you are a poor person, I am sure you can find a way to have Bitcoin while you know and study it.

Here in our country, the majority of people are usually in civilized areas; only a few people know about Bitcoin or cryptocurrency in the provinces here, to be honest.

Random optimism for this technology?
Be realistic; poor ones won't prioritize investments and assets simply because they need to provide for their daily expenses which is practical. Whether it is South East Asia or other regions of the globe, as long as people themselves are not interested to engage not because of its popularity but circumstances and capabilities of the people on those areas believed to be struggling in terms of financial aspect. Everyone's free to invest but no one is required especially if there are other things needing the fund such as food in the table. Economic issues will never be resolved by this industry's token.

As we can see that Bitcoin is one of the large decentralized currency cryptocurrencies which are not regulated in several countries, but nevertheless there are large companies that use large mines to be able to extract bitcoins, but there is a lot of speculation with it, and they declare war between countries

Do you believe that thriving economies are a result, or a consequence of the adoption of bitcoin ?
I'm sorry - but that's a fallacy, unfortunately. By itself neither bitcoin nor any other cryptocurrency can save or noticeably improve the economy, otherwise all countries have long ago switched to cryptocurrency, solving all their problems without much effort .

Digital technology continues to develop, of course this will bring blessings to anyone who uses it. There are lots of creative and smart people there who can take advantage of opportunities – I can even find them earning large amounts of income by taking advantage of these digital developments.

Cryptocurrencies have become global - so anyone can take advantage of them regardless of regulatory clarity. I can find many Indian, Pakistani, Bangladeshi and some other poor countries users here - they are growing and getting benefits commensurate with their skills. It's just that - not everyone can take advantage of opportunities, especially when they don't have good interests and tend to resist technological developments.

I can see crypto and modernization actually doing these countries a massive service if they really push for it and no roadblocks from the government and the public is to arrive. Take for example Bhutan. Which is a mountainous country from the same region. They literally shouldn't have any business being this rich and despite that, they are the only carbon-negative country on the planet that I know of, and to top it all off, they are one of the fastest progressive countries in South Asia, thanks to their modernization program in 2005 that literally jumpstarted the country's economy. and they are also dabbling in crypto and bitcoin, they've got a couple mining rigs in there that do not take up too much of the country's resources.

So of course, should these countries be determined to actually do something about their economy, bitcoin and crypto could provide a solution. but this only works if they are really in it, and if they have the counter-agents to actually solve the climate issue.

Dude, the development of a country's economy has no effect on the presence of Bitcoin in that country. Bitcoin is generally created to make it easier for people to make payments or transactions in the form of digital currency/Crypto, although many people use Bitcoin as a trading or investment method.

My understanding, especially in South Asia, is that Bitcoin has no good or bad impact on the people there economically, but Bitcoin tends to have a positive impact on storing their assets, not economically, but it is positive for other things about Bitcoin, especially parts of AsiaSouth.

How bitcoin will affect south asian economies will generally depend on the country's government. If governments in asia legalize bitcoin can help boost their country's economy strict action by the government will be a hindrance for people to use bitcoin. South Asian countries are developing but not inclusively. Inequality is the biggest obstacle to development. Other countries that have Bitcoin legalization have relatively prosperous economies. No obstacle is created in the way of people's development. When the economy suffers everything becomes easier with bitcoin investment because nothing affects bitcoin.

Bitcoin could create a few new jobs in these nations that could help the citizens of these nations earn a living. In my location, some youths learn diverse skills associated with cryptocurrencies and they are making money from them. Bitcoin can also attract investors to these countries which could also create employment opportunities. There are other online jobs that could also assist people from poor nations to earn bitcoin from accomplishing various tasks.

But when it comes to buying and hodling or trading Bitcoin, citizens of poor nations face so many challenges. They are limited by lack of funds to invest because of employment or underemployment. They also have to grapple with poor economic conditions, a lack of infrastructure such as power and internet facilities and corruption. The majority of the people in the area are thinking of how to survive and not how to invest because of poverty. Some young boys who were running a local Bitcoin exchange in my location were arrested by corrupt police officers who accused them of fraud. These young entrepreneurs were innocent but they were intimidated by the government officials and forced to pay bribes.

Bitcoin can reduces the stress of the people but I think that most of the people have not hold bitcoin yet because some of them lack interest due to lack of knowledge whereas most of them are unable to buy bitcoin due to higher cost. We are talking about buying bitcoin so buying is not easy as everyone says because large number of money is needed for it whereas the salaries in South Asian countries are not enough to carry out responsibility of home so they will hardly fulfil large amount needed for investment in Bitcoin.

Those whose bank balance is enough have already brought bitcoin because they know the success of bitcoin so many of them are saving bitcoin to transfer it to next generation as it will help their children to make their life easy. Finding a job is not easy therefore people often move towards cryptocurrency so when they find it useful so they will also wish to be used by their children.

Perhaps everyone has different thoughts. While you find business easier, for me, I find it more difficult than investing in bitcoin. I once opened a small restaurant and failed even though I had many years of experience working in the restaurant industry. I feel like doing business is really difficult and it's not as easy as I thought. Meanwhile, I find online investing more suitable for me and I am achieving success beyond my expectations and am satisfied with what I have achieved.

I do not advise people who are short of money or poor to invest in bitcoin. I just want to say that bitcoin is also one of many other opportunities that they can try if they are willing to step out of their comfort zone to challenge themselves.

India's definitely exploring their options in the crypto industry quite lately. Been seeing a lot of Indian projects and enterprises in the scene and that proves the point that the country's not unripe for crypto, they're very much ready to take it by their own hands so it seems. One of the most successful crypto digital marketing company's basing in the Indian territory as well, so there's that.

Although this doesn't cover the fact that prejudice and lack of education towards bitcoin in these countries are a detriment to the industry's success in South Asia. For the most part, it's either these people have no idea about bitcoin, or the impression that they have over bitcoin's negative, which is not good for business. I'm guessing an information campaign's due for coming in the region, with Bhutan leading the charge since AFAIK they're the most crypto-receptive country in the region.

It's very natural to hear that Bitcoin is an important topic in South Asian countries, they all want to change their fate. I have never visited South Asian countries but from what I hear the poverty rate is quite high, especially in very densely populated countries like India. Even in my country, many people are actually very curious about Bitcoin, their goal is of course to improve their economy.

btw, in South Asian countries, education about Bitcoin is still low, there are still many who do not update their knowledge of developing technology, even though if they get good education about Bitcoin, their economy will improve too. However, regulations regarding Bitcoin must also be paid attention to, if Bitcoin is still a problem there, people will have difficulty getting education about Bitcoin and its benefits.

In this area, according to what I know, they have a rich history of culture, belief, knowledge,... but the weakness is that they have class differentiation in life and that is gradually changed, perhaps they need to have changed policies to take advantage of labor resources. As well as real estate planning, I have many friends who have traveled to this area. Their feedback is always impressed and overwhelmed by the architecture, culture,... but also shared that Perhaps the problem of rugged terrain affecting urban planning is also a big problem for this area. With bitcoin (crypto), I think for it to work for good purposes, the first thing to do is to improve people's knowledge, and that always takes time to adapt.

 South Asian countries have a significant unbanked population. Bitcoin and other cryptocurrencies offer an alternative financial system that allows people without access to traditional banking to participate in economic activities. This has the potential to enhance financial inclusion in the region.

What makes people to thrive on those countries that are involved and invested on Bitcoin are the policies from their governments. In Bangladesh, AFAIK, Bitcoin is banned and that's why even if there are citizens there that can be said that are starting to make their living rise through the profits they can make from it. The government is the first one that serves as the obstacle for its people. If these countries, not just on this regions but for every country globally won't be strict and will just be neutral and allow its people to own Bitcoin. They are going to benefit from it through capital gains and taxations.

What do you mean by running parallel to the country? If you mean by it that those who live close to the poverty line find it difficult to get equal opportunities like those who don't live near the poverty line, then you are right because in Pakistan situations meet your description, but I won't say anything about Afghanistan because their currency is a lot better than Pakistan's and India's. The economy is getting better day by day.

BTC has helped many people, whether they are living near the poverty line or not, and I am one of those people. I am fully into crypto; it's not that I don't do anything else; it's that my interest and love for a job or a task are totally towards crypto, and I want to avail myself of every opportunity in it, but of course, one can't do that.

Due to many issues, like the ban on crypto in Pakistan, in India, there is no ban. Even if the Indians have to pay tax, the ban is far worse than the tax. At least Indians can openly start new projects, get funds openly, and do anything in the crypto field openly, but we Pakistanis can't do that.

No doubt BTC and relevant technologies have opened new doorways for every developing country although India might not be counted as developing in comparison to the other 4 you have mentioned because it has achieved a lot and done a lot in the field of the IT sector. They did not ban crypto which they did in the start but I don't know what changed their minds and they adopted crypto.

I don't have any good idea about Sri Lanka but I think crypto is banned in Bangladesh too, as I think I had some discussion here on BTT where a person was saying he has to buy a hardware wallet from a friend coming from India to Bangla because of restriction on crypto in Bangla.

So I assume Pak and Bangla is facing the same problem with crypto, I hope someday things will become more streamline on both sides.

I think cryptos effect in these countries is rather limited, but then it is limited in most countries at the moment. The one really useful thing to people in these countries is how it can be used for overseas remittances, where family members are able to send money back that they earned to support families in these poorer countries. Crypto allows them to avoid scrutiny of sometimes unfriendly government financial authorities and also minimize transfer fees that can be very greedy from some banks. A lot of these countries will operate various types of black market as well, as the government is unable to effectively or without corruption provide certain services. However it often depends on having an internet connection which can be hard to come by in certain areas.

AFAIK, Pakistan and Bangladesh banned Bitcoin, India imposed 30% tax rates and Sri Lanka doesn't have any regulations yet on cryptocurrencies.

But these all are countries where poverty exists?

Nope, we just assume that these countries are really being poor and that is what the media shows us too particularly about India but look at what they have been doing, and its one of the fastest growing economy in the world and will be the second larger economy if they goes in the same rate in less than a decade.

My friend once talked about his friend who got into Bitcoin very early and suggested him to buy it as well, he didn't heed him then, but the guy is now rich. So I'd say, it has certainly changed people's lives.

Bitcoin is also reason for plenty others alts existence, opportunities still keep coming to change one's fortune, I understand there are scams and ripoffs, which ofc one needs to be careful about. It has also paved the way for new earning sources, you could put spare hours and rise up the ladder without using your income.

The main problem for the bitcoin in these countries is their government and how often they want to treat the bitcoin mining in their countries. More people in the countries wants to go through the mining but the government itself didn't comment on it.

Even there are many cases present in which the government has to take serious actions in these countries but the way the behavior of the countries government is out of curiosity. More the countries are on the same platform then there are way of going through it and then we should also decide those countries economic condition strongly.

The region's dependence on traditional industries such as handmade goods and local agricultural products complicates the potential of adopting decentralized currencies. Many people in these nations are poor, and governments may be unwilling to support technology that operate outside of their authority. South Asian states may emphasize the stability of their present economic institutions, particularly those oriented on locally produced exports, as opposed to El Salvador, where Bitcoin has been approved as legal money. Encouragement of decentralized networks must be done with caution, given the possible influence on individuals' lives in these locations, and it necessitates a careful balance between technical innovation and socioeconomic stability.

These South Asian countries as mentioned have been reportedly adjudged with the highest poverty rate index.
Am sure for a region which don't believe so much in technological advancement such as may concern mostly cryptos, owning devices or developing the society to accommodate such a decentralized idea that is beyond the control of government, is a taboo.

This region is also best known for handcrafted merchandise, farm products and unlike El Salvador that relies on crypto/BTC as a legal tender, they rely somehow majorly on their exports that have been locally produced or factory made as a greater contribution to the nGDP annually.
This is why encouraging a decentralized network that may crash and cause more harm to the economic situation of individuals living in this region is not welcomed by their government.

Actually business is easier to make money, start a business doesn't have a big capital, you can start it from small. I've an experience to become a reseller, even though I didn't earn to big, but it's enough for me to save/invest.

If I were someone who lack of money, I don't think I will dare to invest in Bitcoin.

I still see few post asking the community if it's good or not to take a loan, so it means these kind of people still exist.

South Asia has been allegedly the fastest growing region of the world for the last decade.
As for poverty rate, it seems around the world's average of a quarter of a population in poverty. Hopefully, there will be significant't improvements in that regard.
But as for Bitcoin, the region doesn't seem Bitcoin-friendly to me. Cryptos aren't regulated in India, but there've been cases of negative sentiments over the years. In Bangladesh, cryptos are illegal. In Pakistan, the State Bank is against cryptos and the regulatory legislation doesn't exist. In Sri Lanka, they're also unregulated, but the Central Bank seems somewhat negative towards crypto businesses. So, to be honest, I'm not sure about the impact of Bitcoin on the region. Others in the thread seem to doubt it as well.

However this still cannot work as it should when the country's state regulations still make Bitcoin an asset that is not legalized even reaching an agreement to equate Bitcoin with other commodity assets is not yet clear. Moreover with the economic conditions being quite worrying the people there are more concerned about the supply of basic necessities than thinking about investment. In some areas for example in areas such as Sri Lanka, Bangladesh, Pakistan and Afghanistan, which are dominated by mountains and hills internet access is still quite limited making it difficult to reach Bitcoin popularity widely.

Yes, bitcoin is not free, does not provide jobs or passive income to anyone, and anyone who wants bitcoin needs money first. But it can be said that bitcoin is an opportunity for poor people, who are still struggling to find ways to improve their economy. There are many people who work hard and save money and they are looking to start a business or invest to change their lives...But doing business or investing in gold, real estate... will become too difficult for them when they need large amounts of capital, but bitcoin will be the solution for them. As you know, we can invest any amount of money in bitcoin and that is what makes bitcoin different, and that makes it closer to the poor than other investments. Bitcoin is truly an opportunity for the poor.

It is a big misconception that bitcoin can save someone or change their quality of life. No, it can potentially change the income, provided that a person learns the features of cryptocurrencies as an asset and trades on the exchange. Preliminarily investing a decent amount of money in the turnover. But as you understand from the description - a poor person has no start-up capital and can not invest in Bitcoin.
There is a second reason, which I have explained many times - the volatility of cryptocurrency. Theoretically, it can be considered a good option long-term holding can give a good profit. Theoretically. Now model the situation for a person with very low income. Even if he was able to somehow save 500-1000 dollars and bought bitcoin. With a high probability, seeing the fall of bitcoin value (and this is a normal process), and seeing how his 1000 dollars turns into 850 and there is a chance to lose more - he with 99% probability will sell bitcoin to save something. Bottom line - only losses and no salvation. The fairy tale role of bitcoin as a savior from all the poor from economic woes, unfortunately - just dreams and fairy tales.
With the same effect you can say that poor people should buy bullion, and due to the increase in price - they will get rid of poverty, but we realize how cynical such advice sounds for people who can barely support themselves....

Poverty and financial constraints make it difficult for people in Southeast Asia to invest in Bitcoin. Accessibility and time constraints prevent people living below the poverty line from getting involved in Bitcoin. Widened the gap between rich and poor, making it difficult for people below the poverty line to improve their lot. Many of these people are working tirelessly just to meet their basic needs. It is a sad reality that this regional country is not fully realizing the potential of Bitcoin to lift people out of poverty. However, I believe that education and awareness about Bitcoin and other cryptocurrencies can make a difference. If more people are aware of the potential benefits of Bitcoin, they may be more inclined to invest in it, even if it's a small amount.

There are too many issues in South East Asian nations and the poverty which we define here is due to unequal wealth distribution and there are elites, ultra riches, billionaires on one side with heavy political influence and then you have the people who are already below poverty line and struggling to float above the line by working for extra hours for basic necessities and in this situation those who are near poverty or below poverty don't stand a chance to take out their time and get into something like crypto and bitcoin which indeed can change their life but they need a capital first and learn about it, they are at a situation where they cannot invest and even if they do and bear run starts they cannot wait for 2 to 4 years to cash out.

But there are people whom I have know their life has been changed they understood the technology and has been contributing at the same time earning a good fortune. But no-one openly discusses it as you never know when government will start crackdown on crypto and users. Bitcoin became too mainstream when celebrities invested into it in 2017. In last few years things have been changing and more users were adopting Bitcoin but Indian government introduced extortion sort of tax process for crypto trading which has left everyone bothered and some of the prominent traders have even shifted out of India but small traders and investors have vanished from market, this happened during the time we saw people started adopting crypto.

Yes, what you said is correct.
Even though bitcoin is good, if we don't have the money to buy it, what's the point?
 Never mind that buying BTC for daily food is not easy.
So I think it's really important to figure out how to help people have more money first before they think about investments like Bitcoin. Yes, like opening up job opportunities, and so on.

Where is the data to suggest this? Are you referring to how some countries are making mistakes by pushing away their local traders like India, which makes them lose a ton of potential tax money or is there any survey that indicates people in those countries hold Bitcoin?

So far, what you mean by impact is probably the potential of Bitcoin to get some people out of poverty. That is true regardless of where they live though, but they need to be a little bit lucky since not all of them have the means to start DCA to begin with.

Asia is also vast and not only that. Southeast Asia also has a large population and this is a promising market share and what is even more exciting is that many millennials are now starting to explore the world of crypto and its benefits.

BTC is global everyone has the right to be able to buy it. now just waiting for the time.

The foreheads? Their head? That's funny lol.

Anyway kidding aside, it's a getting to know no borders type of thing for me. Whether you are in the world it's 1:1 BTC to BTC. It doesn't care about the location it can be distributed to anyone with a wallet and the place doesn't matter.

It is a big impact because they are distributing wealth in a different way I think.

Important topic but many of them have outlawed the use of put up taxation that is tremendous enough to discourage users.

Bitcoin is not a silver bullet to cure poverty. It is a currency and to earn that you need to work or sell your skills just like you earn fiat. Maybe this forum can give a few of them livelihoods, but there is not stability on such jobs, even freelancing. So fiat and crypto both need to be targeted by users in such countries. Even then it will only provide a means of living and not turn the poor to rich.

Those who live below poverty lines, bitcoin is the least of their concerns. For them clean water, cooked food and electricity with a strong roof to live under are way more necessary things.

Do we still have people with this mentality? Taking out a loan to invest in any asset not only Bitcoin is a very risky move. Even if it's 100% guarantee and in fact there is no guarantee that the price of Bitcoin will rise and you may end up losing money if the price goes down. In short, never borrow money to invest because it's simply too risky. Investment always comes with risk and you should never invest more than you can afford to lose.

Borrowing money to invest in Bitcoin is generally considered a bad idea. Investing always comes with risk and when you borrow money to do so, you are increasing the risk because you'll lose the assets if it backfire and you'll still pay for the money you borrow.

Well, we can't literally deny that some of the countries in Southeast Asia are experiencing poverty like my country. I could even say that we're in debted to other countries like the trillions amount of pesos, it might be literally from lack of resources but I would like to say its from corruption. This kind of issue can be helped through Bitcoin as we know the potential of Bitcoin to the people as long as they have the knowledge, funds, and time. Sadly Bitcoin is not that widely known in our country even having a group of people involved in crypto currency, you could literally see that there are only a few people who are active and engaging in the crypto industry as well as investment in Bitcoin. People in the PH actually not only that they lack the knowledge, but if they are just middle class, and just earning enough for you to live and survive, they don't have the time to study and invest in Bitcoin, especially enough funds to invest.

They need to fix their other problems first before they think about getting rich from bitcoin imo. How is the human rights over there for example? Do they have a functioning justice system? Education? Health insurance? Any civilization? These people should solve their basic problems first and then the money will flow in any way. There are some rich countries in the world which you still wouldn't want to visit because money isn't everything. How about making less kids? If they are so poor why do they keep making babies?

Bitcoin does not impact economies. A nation is too complex of an organism for Bitcoin to boost its economy at a level that can be felt. This includes Asian, African or European countries.

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Can Bitcoin benefit the life of some of the citizens who get involved in it?
Yes, it can serve as a hedge against inflation and can give some return on investment.

Can Bitcoin boost businesses and economies?
Not significantly.

People in the region can also take advantage of the crypto space and this forum to seek additional income to help themselves financially even though they also have to continue working as usual to support their families and themselves. All the countries you mentioned are not that bad countries, although in the economic sector they may not be able to compete with other more advanced countries, but every community there can still live peacefully and quite independently through several methods.

aside from they can’t afford money, most of them are unaware of what even cryptocurrency is

bitcoin centers around the use of internet which a lot of people in the poverty line have limited access to or sometimes none at all

even if they’ve heard of bitcoin, false narratives about crypto is still adamant in my country when you explain what crypto is they think it’s just all a scam


bitcoin is a result of the development of the internet

it’s truly devastating to see people in the poverty line falling behind


as i am studying, i am closely monitoring my investments

sadly in my country even if you graduate college, the only hope for financial success is if you go abroad

 
without a backed data verifying this it is just a speculation. There may be poverty in the South Asian countries but not in the way you make it seem from your expression of depression making the condition look so severe.

For you to investing in bitcoin you must have a good income flow, and for a poor people like you described them how do they now benefits from bitcoin since they can't afford the money to invest because there's no free bitcoin anywhere.

We have Asians in this forum but you can't tell me that the whole of the people of the regions of Asia are in this platform. Neither is the whole of Asians using bitcoin. If you must know, the adoption over there is still very low you can do your findings.

I'm still confused that the OP didn't mention anything like what impact Bitcoin has had on them. And for the sentence


Can you explain in more detail what you mean here? What does it mean to get to know and then buy Bitcoin? If yes then I think what other users say here is the absolute truth. That poor people living on the poverty line how do they have money to buy Bitcoin? If they even have difficulty with their daily needs?

If you mean it's open because someone can make a few dollars from this forum, then that could happen. But before that, of course someone needs time and money to buy an internet quota and learn a few things about forums. And I don't understand if there are any users here who come from that situation?

My question: If they're poor how they can have money to buy Bitcoin? Bitcoin isn't a charity or free money you can easily claim it, you must have money and you're going to pay the fee too. Bitcoin can't help the poor, the solution is the poor need to find a good job first.

If you suggest to buy Bitcoin through loan, in hoping after the next few years you can make a lot money, it's stupid since there's no 100% guarantee Bitcoin price will rise like your predictions.

Next time OP when you're talking about the mind being opened, just say that they're mind is being opened to new possibilities, forehead doesn't sound nice and it's not exactly implying that you are talking about your mind. It's good to know that a lot of people are still having their hard life being relieved even just a little with the help of bitcoin, apparently the worry of some that the whales taking over bitcoin is misplaced and not true because it seems that people are still able to get into bitcoin.
I'm from SEA too and I am lucky enough to not live below the poverty line but I am almost nearing the line. I can tell you why bitcoin isn't popular among the many poor in the region, it's probably because of the obvious fact that most people from the poverty line and below don't really have the time to invest and most of them don't have any phone or device that they can use to help them navigate the bitcoin space and bitcoin related platforms and they're not really the kind of people that you want to invest for the long term because they don't have the ability to do that or even be able to do that because they need all the money that they can get and investment is the last thing on their minds.

I’m from South East Asia. Even though poverty is very high here, Bitcoin is still not popular among the poor since they can’t afford to out money on investments while their salaries is not sufficient to their daily needs. Most of the poor here don’t have a chance to know or invest on Bitcoin.

Although Bitcoin might really help them to break free to poverty. Having the money for investment is the biggest concern since poverty is cycle here that passed down to children and so on since jobs here doesn’t pay well even with bachelors degree.

South Asian countries such as India, Bangladesh, Pakistan, Afghanistan, Sri Lanka, some regions are economically very distressed. Bitcoin is an important topic for these regions. Some people in this region live very close to the poverty line. Due to which it becomes difficult for them to run parallel to the country. Through this platform the foreheads of the people of all these regions are being opened.