Topic: Blockchain as a solution to inequality? - page 2. (Read 523 times)
Would've been more precise if it was 'cryptocurrencies' in the title and not blockchain. While blockchain is just the backbone of cryptos, it could have nothing to do with inequality as it acts more like a ledger than anything else. On the other hand, cryptocurrencies have typically been 'trust and invest in us and get rich quick' schemes (not all of them) and this has been the turnaround that has been guaranteeing close to an equal wealth distribution through sales and airdrops.
I am sure that it is only dreams and not more. Unfortunately there is not a magic pill which are able to solve all the problems. It is absolutely true that blockchain is an excellent tech but we must understand that the main application of blockchain is the financial sphere. I am absolutely sure that blockchain will no eliminate inequality
The technology of the blockchain has great potential.This contributes to globalization. Blockchain can make the world more equitable.Cryptocurrency is not regulated by the Central Bank and the government. Cryptocurrency works autonomously. This contributes to a uniform distribution of income.It's a promising idea. And before it is implemented, many more problems need to be solved.In order to get mass distribution, it must become more cost-effective than its centralized competitors.
Sad to say since the beginning till now and the future theres no solution of inequality.Theres always at the top and theres always at the bottom.Even in crypto world theres a successful one and theres loss one.So everything is what we called balance.
Blockchain technology is not the total solution to inequality but however it can reduce. Btc is one of the many applications of block technology and many people already proved that btc help them in their financial matters and increase their economic status. The problem here is that not all people can access or reach btc especially those who are poor. There are many other applications that can be used via blockchain and if many people learn and understand more about it, it will be a great help to thr economy and country.
Blockchain technology is actually a solution to inequality and that is the reason African and some Third World countries has to embrace it if they really want to come out of poverty and miss management in the society. I also believe that blockchain technology has bring trust into human dealing and it is good because is decentralized.
I think the article is a piece of rubbish.
It's an article that promotes a certain project called Pool of Stake. The article talks more about solutions to blockchain inequality rather than using the blockchain itself to address inequality lmao. It's clickbait.
To answer the topic's question though: I seriously doubt it. It's an extremely tall order considering inequality is a problem as old as humanity itself. It's a social issue that cannot be addressed by simple software implementation. It could probably have micro effects on isolated fields though, depending on what it's used for.
It can be a solution someday if the government accept crypto as an alternative currency for thei economy.
How will that work then? Assuming a government accepts crypto as an alternative currency?
I think some people think all you have to do is get an empty bitcoin wallet and "the blockchain" will fill it up with "free" coins.
Some people are dilusional if they think crypto can solve a social issue like inequality as the thread title suggests.
Those people, and unfortunately they're not just some they've become the majority, don't think that cryptos or blockchain is really the solution, they often don't have a clue how the blockchain works
. Their view is much simpler, you get some free tokens from a bounty, you wait and the price will be a few thousand dollars and everybody is going to be rich.Don't expect that some bounty hunters or people that haven't taken a single class in economics will be able to understand that you can't just print wealth out of no-where, at this moment the crypto environment is working like the fiat system, printing coins out of nowhere.... Guess what the value of those coins is going to be and how rich you're going to be holding a trillion Quasimodo Tokens..
I think the article is a piece of rubbish.
It's an article that promotes a certain project called Pool of Stake. The article talks more about solutions to blockchain inequality rather than using the blockchain itself to address inequality lmao. It's clickbait.
To answer the topic's question though: I seriously doubt it. It's an extremely tall order considering inequality is a problem as old as humanity itself. It's a social issue that cannot be addressed by simple software implementation. It could probably have micro effects on isolated fields though, depending on what it's used for.
It can be a solution someday if the government accept crypto as an alternative currency for thei economy.
How will that work then? Assuming a government accepts crypto as an alternative currency?
I think some people think all you have to do is get an empty bitcoin wallet and "the blockchain" will fill it up with "free" coins.
Some people are dilusional if they think crypto can solve a social issue like inequality as the thread title suggests.
Steemit is a wealth creation platform, to be a part of it your income doesn't matter, but to generate a passive income you have to be educated and need to have access to information/internet. With Blockchain anyone can participate, seems like a viable solution to inequality, but it's like the final piece of the puzzle, to participate barriers like digital divide, lack of education etc should be removed. Unless these issues gets resolved Blockchain as a solution to poverty or inequality is mere hype.
I think the article is a piece of rubbish. Nothing on this earth will ever end inequality, not even the big dreams we all have about bitcoin. Nothing. There will be poor people and as well as rich people forever to ever. Check your fingers, are they all equal, man?
First of all they aren't talking about solving the problem of inequality once and for all, because that can't be done. They're focusing on reducing it and some of the solutions are quite good IMO. Like this one:
Pool of Stake solves the inequality issues of PoS by creating the first decentralized pool for PoS blockchains. The product lets token holders participate together in transaction verification by pooling their funds to stake together so they can share the rewards later. This lowers the entry barriers for staking. It also creates an equal environment in which all token holders can participate to secure blockchains and generate a passive daily income, regardless of their initial wealth!
This would actually allow the holders of BTC participate in mining and earn passive income. Inequality would still remain because there would have to be the minimum that you have to hold to be able to get anything. This means that if you wouldn't be able to afford 5BTC (for instance), you wouldn't get anything.
Hihi, yeah it solves inequality
Meaning that there will be a lot more poor people and a lot less rich ones.
Oh, wait, wasn't this supposed to be the other way around?
But leaving that part aside, the end is a gem:
Interesting read, the blockchain helps in re-distribution of wealth, breaking the barriers of inequality among the different classes of persons.
Yeah, I'm seeing it already....
Two guys owning more coins than an entire country. True redistribution of wealth.
Imagine the wealth steemit has shared to every steemites as opposed to the centralization of wealth by facebook only to its shareholders.Despite the fact that the contents are being created by users.
The wealth?
Probably not enough to cover one day of server costs FB requires.Yeah, total decentralization and re-distribution of wealth... TOTAL
do not think so if you borrow money from the bank you have to accept the difference between the sender and the price you borrowed from you have to pay the third party is the bank when you trade bitcoin you It is not worth the price and not through the third party but only the seller and the buyer
There is always an opportunity in everything, that’s what you gotta know. It’s left for you to utilize it if you can. If you choose to be smart and hardworking, then nothing stops you from accomplishing lots of things through. Whales will always manipulate the price of Bitcoin and there will always be people that end up losing their money, but if you’re fast and smart, you will hardly end up with loss.
Interesting read, the blockchain helps in re-distribution of wealth, breaking the barriers of inequality among the different classes of persons.Imagine the wealth steemit has shared to every steemites as opposed to the centralization of wealth by facebook only to its shareholders.Despite the fact that the contents are being created by users.
I think the article is a piece of rubbish.
It's an article that promotes a certain project called Pool of Stake. The article talks more about solutions to blockchain inequality rather than using the blockchain itself to address inequality lmao. It's clickbait.
To answer the topic's question though: I seriously doubt it. It's an extremely tall order considering inequality is a problem as old as humanity itself. It's a social issue that cannot be addressed by simple software implementation. It could probably have micro effects on isolated fields though, depending on what it's used for.
It can be a solution someday if the government accept crypto as an alternative currency for thei economy.
Blockchain has come to ensure transparency and improve current traditional centralized systems where a node gets to control most of the transactions or operations in a network. Even in the era of blockchain there can not be equality. Some people work harder and/or smarter than other while some also get lucky sometimes.
https://medium.com/@poolofstake/blockchain-as-a-solution-to-inequality-385cd08b9f03
Nice article to read. What do you think?
Didn't go through the whole article (lost interest half way as the article sounded quite typical) but the upper half of the article got my attention where they stated that new technology has bought more inequality. To be honest, for the universe to be balanced, we will need inequality. There are rich people because poor people exist. If everyone was rich, then the term rich would actually mean nothing. And think about it this way, if everyone was actually equally rich, then who would be working on the field to produce crops? Eventually there must and will be class difference as long as the earth exists. Without inequality, the society would cease to run at all. Nice article to read. What do you think?
What I see that blockchain and bitcoin have done is that it has helped to alleviate the massed or poor from poverty. It has given the masses an avenue to invest now and into the future. This angle of inequality, it is an age long thing and can't be reverted.
Blockchain is not a solution for inequality, it is a solution for different things first of all the decentralization, and in this system the ones that were the first are the ones who are richer, but the poor ones also can have benefits by airdrops and bounties so it is a sort of also solution for giving people some profit
https://medium.com/@poolofstake/blockchain-as-a-solution-to-inequality-385cd08b9f03
Nice article to read. What do you think?
Bitcoin was never designed to be a solution to anything like that, I know that some people would like to see a better world and while I understand that, people need to accept that there is always going to be a level of unfairness in the world and income and wealth inequality is one of those things, so bitcoin is not going to solve those issues and we must accept that fact. Nice article to read. What do you think?
Cryptocurrencies, alongside blockchain, will never, ever solve the problem of wealth inequality and that's a fact. The article only stated equal opportunities but what kind of opportunity are we talking about here? At the end of the day, those richy rich people would have the last laugh while those who are waaaay below down the poverty line would still struggle to have something for a day. Blockchain isn't a tool for alleviating the stress on the shoulders of poor people, but it gives people the opportunity--especially in cryptocurrencies--to be their own bank, use their money wisely and take it from there. People's efforts and approach on doing things, at the end of the day, help them get better lives and no tools whatsoever will ever do that for people.
Dreams are beautiful, but the reality is a nightmare.
Much of the abuse has occurred to the blockchain in general, from the creation of currencies that are not useful "useless" to the cases of a scam that destroyed the image of ICOs.
I read the article but I think it's more writing than applicable ideas, generally, the blockchain will change the world.
Much of the abuse has occurred to the blockchain in general, from the creation of currencies that are not useful "useless" to the cases of a scam that destroyed the image of ICOs.
I read the article but I think it's more writing than applicable ideas, generally, the blockchain will change the world.
Jump to: