[2015-04-02] Forbes: How Bitcoin Will End World Poverty

[pitham1]

How Bitcoin Will End World Poverty

http://www.forbes.com/sites/steveforbes/2015/04/02/how-bitcoin-will-end-world-poverty/

An interview with Brian Singer

And once you introduce blockchain cryptography, guess what they can do? Have a public ledger of ownership and transfer that cannot be denied because it’s absolutely transparent. It’s absolutely transparent. It is the means through which these individuals can get exactly what Hernando de Soto thinks they best need to bring themselves out of poverty.

It is so much more profound than that, but at its very basis, it has the ability to give these individuals the right of ownership to property. And that has more than anything else, the ability to bring them out of poverty. And I can’t wait. It’ll be adopted elsewhere. I mean, blockchain encryption is such a powerful tool. It’ll be used by banks, it’ll be used by credit card companies, it will become a standard. But what’s more interesting is what it can do to poverty around the world to eliminate poverty.

[db]

Yes. In places where there are no formal property rights prospering economically is really hard. Now suddenly there is a cheap, objectively verifiable, incorruptible property ledger open for use by everybody. This could be huge.

[Kprawn]

Yea, this is very informative.... digital ownership is such a powerful tool to help the poor. The blockchain cryptography makes this possible and they can enter the economy without restraint and at a very low cost.

We seem to concentrate too much on the "currency" feature of Bitcoin and forget about the other true values of the blockchain.

[twister]

Same News was already discussed here : https://bitcointalk.org/index.php?topic=1011317.0

And a lot of people already shared their views on this topic. I don't think it will end it but I think more people will start donating to the charities.

[RodeoX]

Does not compute. I fail to see a logical argument that concludes with poverty being ended by bitcoin.

[CIYAM]

I mean, blockchain encryption is such a powerful tool.

Hmm... you/they are aware that Bitcoin itself uses absolutely *no encryption in the blockchain* - or maybe not.

So if world poverty can be ended by believing in blockchain encryption that doesn't exist then I guess it could probably also be achieved by believing in the Easter Bunny (at least in the latter case you might get to enjoy some chocolate).

[bryant.coleman]

Does not compute. I fail to see a logical argument that concludes with poverty being ended by bitcoin.

Me too.

Bitcoin might play its part in weakening the grip of exploitative bankers around the world. But I fail to see how this will alleviate global poverty. There are many diverse reasons for the global poverty. For example, in Africa the main reasons are civil war, corruption and extremely high birth rates. I don't understand how Blockchain will succeed in reducing the African birth rates.  

[Giggs]

Does not compute. I fail to see a logical argument that concludes with poverty being ended by bitcoin.

Same. These kind of headlines always irk me. I think bitcoin has a lot of great potential and possibilities but I don't think mysteriously ending world poverty is one of them. Saving people money in the remittance and banking markets? Sure, but I've yet to see anything the headline claims here.

[bryant.coleman]

Same. These kind of headlines always irk me. I think bitcoin has a lot of great potential and possibilities but I don't think mysteriously ending world poverty is one of them. Saving people money in the remittance and banking markets? Sure, but I've yet to see anything the headline claims here.

I have seen these sort of sensationalist headlines ever since I started collecting my first coins in 2012. For sure, they are irritating. But at this point of time, any sort of publicity will be good for BTC.

[freedomno1]

Does not compute. I fail to see a logical argument that concludes with poverty being ended by bitcoin.

Veterancy since we see a lot of these articles now and then
Good to get people interested but action is what we want, remembers Kipochi and those projects.

http://spelunk.in/2014/04/02/bitcoin-mpesa-and-kenya-can-it-really-work/

37coins is still lurking in the shadows though and slowly getting presence, talking about the implementation side.