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Author Topic: Using Bitcoin to integrate rural dwellers into the global economy: How?  (Read 149 times)
globalcitizen
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August 07, 2017, 12:29:58 PM
 #1

Share your ideas on the various ways Blockchain and Bitcoin entrepreneurs and enthusiasts can adopt in using Bitcoin as an effort to get the financially excluded populations of the world included into the global financial economy and liberate them from poverty and lack. Africa and Asia would benefit most.

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merchantofzeny
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August 07, 2017, 01:37:33 PM
 #2

It would be a bit hard since it'll take money for them to be able to get bitcoins, unless of course some NGO is willing to send donations in BTC. This would probably only work on moderately industrialized countries like those in Southeast and Southeast Asia, I'm not sure about Africa.

The people would need smartphones, a stable internet connection, and at least one local bitcoin exchange. Provided all those things, their wallets can be seeded with donations, which they have the option of cashing-out immediately to buy needs, or for holding and trading. Once they've had sufficient BTC, they can probably start lending money to each other using bitcoins. It would also become easier to crowdfund a venture since multiple "investors" can send a few µBTC. Heck, it could even be the start of them paying each other in btc rather than fiat.

Vishnu.Reang
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August 07, 2017, 02:23:49 PM
 #3

It will be hard for the rural users to trade or make payments using Bitcoins. How they are going to purchase the coins in the first place, if there are no Bitcoin ATMs around? Also, how can they convert BTC to fiat easily?

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Pearls Before Swine
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August 07, 2017, 02:40:54 PM
 #4

Seems I'll be the only one to ask this.
How do you know rural, cow kicking dwellersaren't in to bitcoin?  How about all those
Chinese miners who are living out near that hydroelectric power with nothing but
mountains in sight?  That seems pretty damn county to me.  There's no way to tell
who lives where unless you just know.  Therefore I declare this thread to be silly, and OP
goes on ignore.



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