Topic: Blockchain technology and bitcoin effects on developing countries? - page 2. (Read 264 times)

I want to blockchain promotes the development of the developing countries, however, Cryptocurrency market is not necessarily can bring help for these countries, because of the Cryptocurrency market are widely used in money laundering, then this is a country is not allowed.

I think blockchain technology help to developing countries. Usually in developing countries big role have discounting corruption and blockchain give working methods for this

so far it seems like some countries like Venezuela for example decided to go the ICO route of making money from the blockchain technology. from what i have read they started their own coin called Petro and claimed it is backed by oil and then did a fund raising through ICOs and make a lot of money. or at least that is what the news told us.

but the right way of benefiting from this is what countries like Japan did. right now there are quite a lot of new businesses shaping up in their country and it helped their economy quite a bit too.

Developed countries are very focused on the development of blockchain and electronic money. For example, Canada is always expanding to receive electronic money through blockchain technology. They have also issued the Toronto Relief Fund regulations to allow the implementation of the first ICO / ITO call project. European countries see the potential of blockchain for their own water and also attach great importance to the positive direction of blockchain technology. The future of blockchain will grow remarkably.

In VietNam crypto is the best way to make money!!

It will result in a number of positive effects:

1) A lot of young people who do not have jobs but have some money to invest can earn good money with bitcoin trading. No doubt, it requires some research but can be achieved in few months.

2) I heard that there are more than 25 exchanges in India now. With so many exchanges opening, a lot of people will get employed there.

3) I also found a lot of people making YouTube channels especially for this purpose. They are getting good number of subscribers and are thus earning good money telling people about bitcoins in regional Indian languages.

I do reason that the effect of bitcoin to every country whether India or not, is to a positive side. I mean everybody is enjoying the financial addition and gains that they get from bitcoin. Not trading on bitcoin or cryptocurrency generally, that addition will be missing. So we all should be thankful because no doubt is helping the situation of modern living.

Blockchain technology has attracted much attention from certain institutions such as banks and companies. With blockchain technology will make the entire transaction faster, safer, transparent and accessible to anyone. All transactions through blockchain can be seen by all users so safe from suspicious actions dan the manipulation of the manager.
The effects of bitcoin in developing countries have brought both large and small entrepreneurs to work in it good as investors, traders, as well as developers.

Very simply, I believe that people can adapt to anything, and India is not the limit. This is not a blockchain should adapt, and users themselves

As for your country at the beginning of the month, there was a lot of negative news about the prohibition of bitcoin. How things really are, how much I understood the technology blockchaine want to introduce into some areas of activity ??

I think bitcoin is doing more for developing countries than for developed countries. Because people from developed countries already have a good and stable currency. We don't have one here.

In Latin America we have a big problem with inflation. Our governments think that printing money out of thin air is a good idea to fund social programs.

In 80s Brazil had about 1000% inflation per year.
Right now Venezuela has 4000%. http://money.cnn.com/2017/11/22/news/economy/venezuela-currency-crash/index.html
 I have friends there who says it's about 10.000% a year.. anyway, that's much more than bitcoin gains, but as losses.

When a country has inflation like this, there is food shortage, basic personal hygiene items shortage (like toothbrushes, toilet paper).
Everyone just becomes poor. Money is worthless.

That's all basically because an irresponsible government is printing money at will at the benefit of few.

Bitcoin is already protecting people from the government in Venezuela. As electricity is very cheap there, common people are mining bitcoins for living. The ones who are doing this are not the poorest people there, they are like "middle class", but they would be miserable in US standards.

30 dollars is a huge amount of money there.

Anyway, bitcoin and other cryptocurrencies are helping people in undeveloped countries to be a little bit better. To have a little bit more liberty, and a bit more protected from irresponsible government decisions.

You may think Bitcoin has a big volatility, but Venezuelan Bolivar has much higher volatility (but it's just going down!!)

Try to imagine your life with 100% inflation per month. Well, we all know how is to live like this in Latin america.

Yes I think the adoption of bitcoin in developing countries can improve the reconstruction and prosperity of the people, especially the poor. Also with the bitcoin they know the outside world that they have not known before. I think this is an alternative for developing countries.

All the countries are adapting the blockchain it will connect the all over world. Number of developing countries are accepting the Bitcoin technology still some  countries are implementing the Bitcoin effect.
 I think India also supporting to cryptocurrency example jio coin is under process in crypto platform. So all the countries are adapting the digital world.

Well making profits aside, I feel like it's still a good remittance option for developing countries. I know someone who has started sending money to family in the province from profits gained in bitcoin. It is still fast and and cheap enough to send funds from an exchange wallet to some partner establishment.

The adoption of bitcoin in developed countries will affect the country positively in the economical aspect of it. Because it will make many very rich which will provide the country with more development in the society.. 

I was just curious to know how will adapting to blockchain technology and bitcoin effect  developing countries like India.