When you think about all of the awful things going on in our world today, starvation, malnutrition, disease, potable water shortage, inadequate sanitation, homelessness, deficient housing, illiteracy, overcrowding, civil war and even terrorism, there seems to be one common thread running through them all - poverty.
Now, imagine if communities all over the world could easily and affordably mine a crypto just with their smart devices and then turn around and use it as their de facto currency. How much of an impact do you think that would have on global extreme poverty and why?
You are misrepresenting the problem.
Poverty is a symptom that belongs with the things in your first paragraph, not the cause of those things.
What the cause might be is a philosophical question. Buddhists say the cause is a lack of awareness, desire, and different Buddhist schools have different paths. Christians say the cause is that not enough people have a boner for their Messiah, and their solution usually involves sending 💰 money to some pissed off preacher. Muslims don't care what the problem is but they think killing people will solve it.
Anyway, a basic tenet of common Sense economics is that a currency has to be associated with a commodity or something of value.
Cryptocurrency monetizes computing power, so useful algorhythms coins like gridcoin, primecoin etc are integrating a commodity, scientific advances, into the currency. But coins like Bitcoin and moroncoins that are simply airdropped on poor people are basically Fiat without gangster support, so they redistribute wealth only, not create it.
Let's take a closer look at SXAS, then:
Scarce: The supply of SXAS is tightly controlled and highly predictable. The issuance of new SXAS can only be triggered by market demand.
Fungibile: All SXAS are considered equal.
Divisible: SXAS is currently divisible up to 6 decimal places. At an exchange rate of $100 this is a divisibility down to $0.0001.
Durabile: SXAS is completely digital, so it will not degrade with use. Moreover, WAVES Wallets wallets can be easily created and assets moved to prevent file corruption.
Transferable: SXAS can be transferred, securely, affordably and almost instantly to anyone with an internet connection.
Portable: SXAS scales exceptionally well for larger quantities since it is completely digital. Anything from $0.01 to $1B can fit on a flash drive.
Difficult to Counterfeit: It is cryptographically impossible to counterfeit a SXAS.
Widespread Use: SXAS has been engineered to be used by anyone to quickly, easily, affordably and securely pay for anything they need anywhere across the globe.
Verifiable Authenticity: Specialized software can identify SXAS units on the WAVES blockchain.
Nonconsumable: Oil, for instance, cannot function as currency because because it is a consumable commodity. SXAS, on the other hand, is not.
So, what is SXAS?
SXAS is 21st century currency for the world of today and the one to come.
When communities start using it to build their own economies from the ground up, they'll finally have the means to obtain all of the goods/services they need to elevate their standard of living and dramatically improve their quality of life.
With their basic standard of living met and the conditions for starvation, malnutrition, disease, potable water shortage, inadequate sanitation, homelessness, deficient housing, illiteracy, overcrowding, civil war and even terrorism finally eliminated, we have a better world for all. Makes sense?
