Of course, crypto-currencies are the key to eliminating poverty in underdeveloped countries. The population of poor countries has a lot of unfair restrictions that do not allow them to change their lives. They can not get primary school education. They have class, religious, infrastructural, financial, political and geographic restrictions. In many such countries, the government is not interested in the development of its people.
Therefore, I believe that the crypto currency is another way to reduce discrimination in the world economy.
At the moment, we can observe Venezuela. This first country, which is under the sanctions of developed countries, has issued its own national cryptocurrency.
Topic: Can crytocurrency reduce Global Poverty ? - page 9. (Read 747 times)
Blockchain can definitely help. Cryptocurrencies could do but they haven't so far, remains to be seen how helpful they'll be for the poor.
We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?
First things first you have countries that still don't have paypal and other internet money services or yet their banks might not allow you to move your money outside to specific countries etc. What cryptocurrency essentially can do is open whole bunch of opportunities where nobody can tell you that you are not able to transact and spend and use your money the way you want to. With marketplace like openbazzaar and many new innovating this happening on ethereum blockchain and others I see huge benefit for poor countries.
Although overall they can't reduce poverty as one human can reduce poverty only for himself by providing the value to other people and getting paid in return. So you will still have to work until sci-fi AI takes over.
We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?
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