I totally agree that Bitcoin and another digital currencies can benefit individuals welfare from the financial point of view. As you know, Crypto-Currency opens a new world that wasn't disponible before for many people. In this new world the offers are more accessible for you, with zero bureaucracy.
It means everyone can have access to more profitable investments they hadn't before on their countries. It means there are more job offers, new sources of money disponible, new kinds of markets to be explored... In the end, all these points are reverted into economic welfare, as the individual makes a good use of the opportunities.
Topic: Cryptocurrency could benefit the world's economic welfare? - page 2. (Read 476 times)
If the best economic improvements can be made in case when there is only digital currency, but no fiat currency then cash should be removed from world's circulation. If some countries are completely cryptocurrency accommodated while others only have cash money transfer systems it may cause some issues in export/import practice, like what currency should be used, which exchanges and what fees should be paid for transactions, etc. On the other hand - what changes if most of the countries just replace one currency type with another? Anyway, I think it's US and Canada for now because not every country can deal with cryptocurrencies and turn their implementation into economic gain for the government, as with the new system simply some private banks can do manipulations faster, than the government and take over the business.
There are some countries with pretty bad economic welfare but a good number of their population may never get access to the internet or cryptocurrencies or even understand the whole idea of cryptocurrencies. How will these countries benefit specifically from cryptos?
If the state is involved in the crypt, this is how much it can earn for its country.
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
According to what I expect is very suitable if the statement about Cryptocurency is really beneficial for everyone, now it can be said that everyone joined Cryptocurency because indeed It is very worthy to be used as a source of income for our economy
At least in 2017, people who invest in encryption have made a lot of money, which indeed brings a lot of benefits to investors. We are also very grateful to BTC.
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
I think that does not work for the whole world. Only in countries, with people who also own crypto, benefit from it. There are certainly countries in which people have little or no cryptocurrency, since in these countries the internet is barely or not at all available. Such countries do not benefit from crypto. You can also put it another way. The rich get richer, the poor stay poor. I think cryptos too can not do much about it. If it should be different, I would be very happy if the whole world has something of it.
That is very true about cryptocurrency,it would benefits the world economic welfare, especially to the economy that is suffering from economic crisis ,cryptocurrency is of great help to the jobless people.
well it has some point, but it wouldn't be that easy since implementing such currencies needs to be process and it takes a lot of work to do before it will be finalized, and as usual there are lots of arguments that will happen uponthe process that will make it long before it will be fully regulatef to a certain country and in addition those who will keep on criticizing crypto, that makes it hard.
That is very true about cryptocurrency,it would benefits the world economic welfare, especially to the economy that is suffering from economic crisis ,cryptocurrency is of great help to the jobless people.
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
Is cryptocurrencies, or just bitcoin going to improve the US and Canada's economic welfare or condition all of a sudden? I highly doubt it.
Bitcoin is useful as an international and global currency with no central bank. I don't think that it's true to say that the United States and Canada's economy depended on cryptocurrencies, or that they are going to drastically improve due to it. Same goes for any other country, since bitcoin is completely stateless and there is no central entity controlling it the way fiat is controlled.
Bitcoin does benefit a range of people, regardless of their country or nationalities. For example, unbanked people can be helped greatly as bitcoin provides a means to save. Workers from remote regions can connect with global employment opportunities. etc. etc. It's not just restricted to countries.
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
These can be effective once a particular country accepted cryptocurrency as a legal tender. And every Governments In a country wants to Improve their economy amd If they found potential Into cryptos, there Is no reason why they wouldn't adopt It and used for particular cases.
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
It only says Canada. But how does Bitcoin benefit a country? I don’t really know how, unless maybe when the major investors are coming from that country, they can be the ones bringing in profit to that country or maybe their government planed to start investing in cryptocurrency, or should I say that they want to start mining just like I heard that Russia government were setting up a Bitcoin mining farm. I don’t know how exactly it is going to benefit the economy of any country apart from these things I have mentioned. https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
Crypto currencies are far from what is being imagined in that article here. I think crypto currencies are not capable of doing that because they themselves have no solid support. Leaving behind the whales I can only see weak hands everywhere who use bitcoin and crypto's as medium to earn money and nothing else. As long as it doesnt end up having real use it cant be used for the national development or so called welfares around the globe. That process will get executed later in the time and not just now. This world is yet to understand the best of its characteristic and then we can think about the welfare really.
Actually they also have their own digital systems but the journal or the article doesn’t mention about blockchain, cryptocurrency that (which in general) using blockchain is inversely proportional to the centralized bank system, and what needs to be highlighted next is the node problem in each branch that must be qualified to store more data.
I don't think that crypto or bitcoin alone would be able to necessarily increase the welfare of individuals directly by handing them aid or stuff like that, but it could certainly happen in a variety of ways with a global currency like bitcoin.
The most prominent example would be that bitcoin allows for people from less developed countries with cheap labor forces to access employment opportunities worldwide, and therefore, increase their standard of living.
The combination of bitcoin as the payment method/medium of excahnge and the internet allows this to happen, and this can occur throughout the world regardless of borders because of bitcoin's global nature. Bitcoin, in contrast to other payment processors like Paypal, do not restrict access just because you don't have ID or you don't have a valid bank account to attach to your account, which means that it's much more accessible by less developed nations. Besides, you also don't need to pay fees, or deal with exchange rate risk as much.
The most prominent example would be that bitcoin allows for people from less developed countries with cheap labor forces to access employment opportunities worldwide, and therefore, increase their standard of living.
The combination of bitcoin as the payment method/medium of excahnge and the internet allows this to happen, and this can occur throughout the world regardless of borders because of bitcoin's global nature. Bitcoin, in contrast to other payment processors like Paypal, do not restrict access just because you don't have ID or you don't have a valid bank account to attach to your account, which means that it's much more accessible by less developed nations. Besides, you also don't need to pay fees, or deal with exchange rate risk as much.
Canada and the United States economic welfare may come through cryptocurrencies. Canada's Central Bank has published such a paper. Only the economic development of these two countries? Or cryptocurrency can bring economic welfare all over the world.
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
https://www.coindesk.com/central-bank-crypto-could-bring-economic-gains-bank-of-canada-paper/
What do you think about the economic world of cryptocurrencies?
Of course it's good also for the whole world. Nation's accepting cryptocurrency can benefit through it due to it demand to the public. If people will be properly educated about this new trend of currency, then many would invest in it and economy will have more means of income from it.
Blockchain and bitcoin are suitable for every industry. I am working in the field of insurance and finance and I am waiting till blockchain will change everything. I hope it will happen soon. I have found one project Socratus. It is an insurance ecosystem which provides a digital platform with instant claim payment products for insurance companies. It is designed to help insurance companies to save their money and get their business on a new level. For instance, they can help the insurance company to lower expenses from 15% to 25% on claims handling and operational expenses. Basically, they work with different kinds of insurances such as e-commerce, cyber insurance, personal accident and etc. Moreover, they are powered by Smart-contracts & Socratus Oracles. I think this is really cool and it seems like an innovative and demanded project. I hope I helped.
The welfare gains of introducing CBDC are estimated as up to 0.64% for Canada. {This is a very low gain} 
Source : https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-36.pdf
This is the conclusion in summary :
~ Elevated levels of competition may lead banks to improve their services by offering cheaper and/or better products.
~ On the other hand, an increased level of competition may lead banks to invest in (or give loan to) riskier projects, resulting
in a less stable financial system. Furthermore, banks may increase the interest rate on loans, which in turn can affect the
real economy.
This was a very good paper and a recommended read, before you read the article.
Source : https://www.bankofcanada.ca/wp-content/uploads/2018/07/swp2018-36.pdf
This is the conclusion in summary :
~ Elevated levels of competition may lead banks to improve their services by offering cheaper and/or better products.
~ On the other hand, an increased level of competition may lead banks to invest in (or give loan to) riskier projects, resulting
in a less stable financial system. Furthermore, banks may increase the interest rate on loans, which in turn can affect the
real economy.
This was a very good paper and a recommended read, before you read the article.
I think there is a mistake in understanding the difference between the term of digital currency "Paper money in digital form" and Cryptocurrency "Bitcoin & altcoins."
I noticed that the author of the article referred to the term Cryptocurrency at the beginning of it and then talked about digital money in the rest of the article. Am I wrong?
I agree with them where dealing with the digital system is much better than cash, but if the idea revolves around making central cryptocurrency system and then benefit from the system Blockchain I do not expect there would be any benefit from the integration of the two systems
I noticed that the author of the article referred to the term Cryptocurrency at the beginning of it and then talked about digital money in the rest of the article. Am I wrong?
I agree with them where dealing with the digital system is much better than cash, but if the idea revolves around making central cryptocurrency system and then benefit from the system Blockchain I do not expect there would be any benefit from the integration of the two systems
If we check things in straight forward way then surely crypto currencies can bring up the economic welfare to most of the countries. But unfortunately there is a lot of flaws in the whole system where not all the countries are on the same page and neither most of them agreeing the concept of bitcoin. So the next question is how this can help crypto economic conditions to improve themselves? If there is no use of it or no purpose of it in the real world (in most of the countries) then how can one be so sure that it may create welfare credibility in the world. 
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