Topic: Help of cryptocurrency in globalization. - page 3. (Read 438 times)

Well said mate, bitcoin is the best currency to use when we are going to export or import goods and stuffs, bitcoin can be used in payment to make the transaction faster compared to the use of fiat currency. If all the countries see the benefits of using bitcoin then for sure they will understand what we are saying, bitcoin can really helps the economy, it can be alternatives in the fiat currency especially as of this moment when COVID-19 is continuously spreading all over the world.


Actually that borderless thing is not really true, because there is still unfair treatment to each everyone in our land, the government treat better those who have higher status in life compared to those not. There are still so many people hungry, lack of help and lack of attention from the government.

I feel these two different words which do not have any direct correlation. Maybe a single mode of payment unifies people from the globe. So the second phrase is more correct.

There are other digital payment systems too. Bitcoin got its popularity from the price changes that were huge in terms of dollar cost. The there were the bad PR of bitcoin being used to fund wrongdoings, even though fiat has always been used in the same manner.

It is still a long way from globalization and this is a longshot idea but possible.

Yes you are absolutely right cryptocurrency is so very useful in trading and buy and sell because you can easily buy what you want using bitcoin and you can also trade faster and it so very useful in our country and in our daily lives you all need is to mined it or invest for it

I, as an exporter, would be very happy if payments could be processed using bitcoin, which means my cashflow will get better. It's just that this can be done if the exporter and importer copy trust each other. L/C (letter of credit) remains the safest choice in export-import transactions, especially with large transaction value.

Cryptocurrency will not help globalization, because crypto in globalization is only an object, not a subject. The phenomenon of globalization and integration of the world economy has made our world increasingly borderless. With the assistance of the development and progress of information technology, many countries and individuals are becoming increasingly connected with one another globally. Cryptocurrency without us denying indeed facilitates cross-border payments but some individuals can also be misused for cross-border funding. so it all depends on the commitment of individuals, groups, and countries.

Well said mate, different transactions of cryptocurrencies are much faster than the fiat currencies, so if the country will accept the cryptocurrency in their land, then for sure they will be globalized as soon as possible. If all the countries will see the benefits of having cryptocurrency then for sure they will become a better country, just like what New York did, they plant a generator for crypto mining machine which is really worth it because they are now earning for 50,000 USD everyday, that is so big they money that they spent for planting the project is really big but it is worth it because of the earnings they may have everyday, and for sure it will be bigger soon because it is still new.

Yes it really does help globalization more visible, in terms of trasferring money from any country to another country it really does exceed the capability of what fiat currency can do, it will connect businesses across the country more easily and more faster but of course everything has its weakness and the weakness of this is i think it has a low chance of transferring of the influence of cultural knowledge or what we called social globalization from one person to another coming from different countries but in a nutshell it really does help globalization but not all parts of it.

I guess it doing that already? Think about it, thanks to crypto currency money could move from any nations to any nation and any person to any person without limitations. If I want to send you 30 cents from Uganda to china, how easy it is do you think? I am pretty sure I really can't do that. However using some currency that is small (not bitcoin) like waves or tron or whatever I can send you 30 cents in less than 30 seconds and that's it.

So, as you can see I have always called crypto the "internet of money" because it is bringing people together and it is making a global currency right now. It may not be used as much as we would like to but it is certainly used a bit and that is certainly getting more and more common as well eventually leading to crypto being the most preferred country to country money transaction method for sure.

The thing I like the most in the cryptocurrency is the globalization it offers mainly in the cross border payments which is very costly right now which can be done in one-hundredth of the traditional means and as you mentioned payments during the export of goods which is hectic and highly dependent on time-consuming banking system which can also be easily overcome with the cryptos in just minutes

Well said mate, but I think money is power, and bitcoin is money, so basically bitcoin can really help different countries to be globalized and bring them under one umbrella, a strong relationship between different countries is really important because that is what we can get if our country is globalized enough.

Russia, India, China and US are strong and powerful country, they have so many population in their land, and as we all know they are really advanced when talking about technology, and if I am not mistaken China and US already accept crytocurrency in their land, which is really good for them because they want their country to be powerful continuously using different cryptocurrency. which is I agree because cryptocurrency is really good in terms of fast and safe transactions.

Indeed, if every country has a time for observing and analyzing the advantage of cryptocurrency they will surely accept this in the land. There are already a lot of countries that accept it and it is really worth it for them.

If we would define globalization, it is the overall exchange of products and service from different countries with the help of technology. Blockchain and crypto can simply be an example of the advancement of technology, it is the new generation of the world's monetary system which makes things easier and more convenient. Being said, it would really be a great help for the improvement of the globalization leadong to the rise of global economy.

Amidst the differences in currency we can all be united through using the same cryptocurrency when making transactions from other countries. There will be no hustle upon exchanges that's why it is way more better for us in terms of globalization. New ways will lead to new progress.

I think OP's title is on the contrary because cryptocurrency is born out of globalization and not that cryptocurrency helps in globalization. Although in some sense, it reach out to many countries in bringing people together especially in the area of financial transaction. But I think that cryptocurrency is the benefit from globalization because people now adapt to the new or growing financial system from other countries which is cryptocurrency or digital payment system.

Cryptocurrency and even blockchain can give a big part in globalization because through this technological advancement, it helps country to have transactions internationally. It makes it easier to transact with people in other countries. And that's what globalization is all about, connecting people across the world for stronger economy. Technology leads to greater globalization and cryptocurrency is a product of technology.

Those countries that use cryptocurrency in their land is better than those who are not, I think cryptocurrency would be a big factor for one country to make their country be globalized because as we all know cryptocurrency is much better compared to fiat currencies in terms of fast, and safe transactions, it will be really good for the country to use cryptocurrency when imports and exports happen.

The thing about globalization is it makes the country innovate more things and have a strong connection among other countries, which is really good to have for every country in this world. When the country becomes globalized the goods and services will have lower costs, just like in other rich country, the price of goods and services are lower compared to other countries.

Hmm, 12 replies and nobody asked the most important question!
What country are we talking about?  

Anyhow, no it won't as much as you might want to think!
Bitcoin is a way of transferring money, for globalization you need everything from people to companies to governments to interact with each other.
The EU, for example, has been able to do most of it without bitcoin because the first ingredient was the economy and we had it in place.

For poor countries, no it will not make a difference, even if the government and the people are fans of cryptos, what you need to enter the global economy are products and purchasing power, and that's a hard thing to achieve for. Focus on the economy, grow it, grow the median income in a country and then you can think about other things, but out of the blue just because you adopt BTC nothing will change. Do you think that if countries in the sub-saharian region will drop their currencies and switch to BTC next morning by miracle electronics, cars, and planes factories will pop-up?


Globalization really started when the few European empires started conquering everything they could grab before somebody else did, and the first phase ended with the British Empire owning 25% of the world and the other few powers...well....the rest.  
It wasn't that beneficial for small countries which in most cases were crushed, ripped into pieces and shared between empires.

Well said mate, globalization started on 20th century while bitcoin started on 2009, so we don't know if this cryptocurrency gives help or contribute in globalization, bitcoin was launched first before globalization exists, but one thing for sure in the country of Philippines they are not using cryptocurrency as they are already starting to make their country globalize.

I just want to talk about the last sentence that you have said about one country goes up, one country would surely go down, I don't think so that the is the nature of globalization because there are a lot of countries that helping each other to become a better ones, they make imports and exports so for sure they benefited on both things.

Yeah you are right and i do believe that crypto currency will help to globalize our own country because just like you said that its is safer fiat currency because crypto currency can trade through computer, laptop or even cellphone and it's the fastest way to trade or buy and sell

You already said it. It "presumes" that all countries move towards each other, but that doesn't necessarily mean that it actually is true. Let's be honest here, big countries would want to expand more, develop more, and stand above others more since that indicates the amount of say they have regarding things. They don't necessarily need other countries, why? Because they can develop on their own. Globalization became a thing because there wasn't a single country towering over another, but rather multiple countries being at equals on different levels. Tbf, only those small countries benefit fully on globalization, since they can advance their country's progress quite faster but it would stay under the jurisdiction of most of the countries supporting it. They'd support those countries, but wouldn't let them exceed their own.

Understanding it is not that tough. With time you get to know some of the intricacies of bitcoin and how it works. While this is important for the developers, the merchants don't need much knowledge but they should.

Faster payments is though better with visa and MasterCard but with lightning network we might see better bitcoin usage with fast transfers. Here altcoins often get a pitch because their blockchains often remain less congested. But don't let that concept make you enter too much into altcoins

it will help because it makes transactions easier for different countries, because their currencies are different.
so using crypto will be easier not need to convert how much to pay first because crypto is connected to all fiat currencies, for example someone sells goods at a price of 0.1 btc then the buyer only needs to prepare 0.1btc no need to compare currency rates his money against the seller's currency.

cryptocurrency is indeed useful for transactions between countries, with a faster payment process, which means speeding up business processes between the two parties, so that it will speed up the wheels of development. on the other hand using it can be safer if we understand it wisely