impacts off cryptocurrency

[litma21]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

[13abyknight]

Cryptocurrencies have a substantial impact on both economic and social development. There have been up and coming projects which aim to provide blockchain solutions to underdeveloped countries in Africa, given that these projects actually make their mark, they are sure to bring an incredible positive change and would help the common people of the nations with all their needs.
Limited technology and accessibility could be the first hurdle here, but with big eyers eyeing down on these projects, it could help out to be a reaching hand to provide basic facilities for the folks.

[Palmerson]

I doubt that politicians will want to implement blockchain technology. Many of them are in power only because of election fraud. As to the cryptocurrencies this is a good way for poor countries to have salaries at the level of the which is produced in the developed countries. But it requires certain skills that do not have people in poor countries. Now education has a real price.

[HeRetiK]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

I see two major plausible social and economic impacts:

1) facilitation of p2p business, as it makes it easier for private individuals and small business owners to accept online payments.

2) further enabling of globalization with all its up- and downsides.

In the end I see a net positive for both rich and poor countries, however I'm still not sure who stands to gain the most out of it and at what cost.

[cryptojac17]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

I see two major plausible social and economic impacts:

1) facilitation of p2p business, as it makes it easier for private individuals and small business owners to accept online payments.

2) further enabling of globalization with all its up- and downsides.

In the end I see a net positive for both rich and poor countries, however I'm still not sure who stands to gain the most out of it and at what cost.

Yeah agree on your observation there are of people of my country who are working abroad start to feel the good impact of crypto currency because economical and faster way of money remittances,and small business entrepreneur can accept online payment in where in the world by using crypto currency that means and crypto currency making business a fair place to any body.

[krauzzer02]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

This coin is still premature to make a nation impact the transformation or change of the economy as we know some of them prohibitively or strictly implemented some measures for the use of it to the point that some countries bans the exchanges and coinbase.

Some of the impact is pretty negative and some are positively progressive that's why some countries prohibits or regulated some ICO's and some crypto because some petty criminals are using this for their illegal transactions and Ponzi schemes all because of its feature anonymity.

But because of its transparency it can impact the Government by setting a wallet that is designated for them or for their Department letting them sign the wallet to prove the ownership and the funds thus making it more public eliminating corruption and stealing people's tax.

Another thing is the business, company and banks adaptation towards the blockchain technology making the transaction more efficient, decentralized, public and faster but as I've said it is still premature that needs further developments and improvements.

[bitcoinmaniac52]

The impact of cryptocurrency is huge. The vast majority of the world still uses fiat money, or paper money, whatever you want to call it. And it's still the world's reserve currency even though gold is better at storing value for long periods of time. But we're forced to use paper money because it's the only option and the value of the USD has been extremely devalued since the 1920s so it's time to invest my value into BTC.

[BartS]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

If bitcoin becomes as big as we think it can get then it is possible that bitcoin begins to replace the local currencies of poor countries this is going to be revolutionary since people will stop accepting the local currency printed by their governments, this is happening in a lesser scale in countries like Zimbabwe and Venezuela where people prefer to have their money in bitcoin than in the local currency.

[frances21co]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

finance will change with currencies not based on debit of states and banks but based on real value, i see bitcoin as a value carrier (the gold of currencies) and others as multiple application of blockchain, including payment metods.

[iamTom123]

Cryptocurrencies have a substantial impact on both economic and social development. There have been up and coming projects which aim to provide blockchain solutions to underdeveloped countries in Africa, given that these projects actually make their mark, they are sure to bring an incredible positive change and would help the common people of the nations with all their needs. Limited technology and accessibility could be the first hurdle here, but with big eyers eyeing down on these projects, it could help out to be a reaching hand to provide basic facilities for the folks.

Cryptocurrency can be that catalyst for people to strongly demand the availability of new technology in the area of communication especially in third-world countries. As the underlying technology, the blockchain can have far-reaching implications and changes which our society can benefit from. Though Bitcoin is not really meant to help the poor or to save those in need, still this is a good opportunity for people who are willing to invest some of their resources and time for the coin. Just like what is happening right now in Venezuela, Bitcoin can play a big role in helping cope with economic distress and challenges. And this is just the tip of the iceberg, I guess.

[Reatim]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

If we look at the economic and social impact of cryptocurrencies, first you should look at how we are we going to used it. Bitcoin was designed as p2p without any intermediary, and as a micro payment scheme. However, it evolves now as store of value and investment. So only the 1st world countries has really benefit now because they have access to money and internet. However, I have no doubts that even a 3rd world country can benefit as well, just like what it has been doing in poor countries in Asia. Bitcoin is now their main source of income.

[tunctioncloud]

To answer your second question, it will change basically nothing for poor countries with a limited access to the Internet and to electricity. Without any access to thse two things, there are no bitcoins there, and thus it will indeed change nothing if it has no presence.

[palle11]

The impacts of cryptos to third world countries I would simply view it in two different angles and the first is to say the least on how internet also has negative impacts on some industrialised countries because obviously, not all the industrialised countries have access to internet or how to access it too.

Then the second is simply that which I view as advantage to the users of cryptos in third world countries. This is in the area of conversion. The value of bitcoin for instance is higher than dollars nor pounds, so if such fiat is then converted to the local currency of the third world countries - it should be a lot of money.

In other words, I really see whatever impacts cryptos has to the third world countries as an advantage.

[vibingpositively]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

I think economically it can bring prosperity to an otherwise stuck middle class however in regards to the poorer countries I dont know if this will benefit them in time. I read on a report that by 2020 90% of people will have

smart phones meaning everybody is not far off from having internet which is all that is needed for bitcoin. However just because you have a smartphone doesnt mean you will have access to a bunch of money and I think

for these people they may struggle yet. And even if they have money are they supposed to gamble half on bitcoin? Seems too risky to gamble the livelihood like that and I certainly wouldnt do it unless BTC was super stable.

[Bayard2018]

Poor are going to be more poors
And rich richer
It s not because you change money that you change the world
Change you heart first
Cryptocurrency are changing young people in traders, if you believe that
It s a good thing.....
Crypto are others tools but if you don t
Change you heart it would be one more tool to destroy the world
And more it s a better tool for the richs who don t care about poors to become richer
As a rich man you can now product your own money...is it a good think,
we believe that because we expect a piece of cake that s all

[Mahanton]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

Sad to say but this is the limitation and the total blockage why bitcoin cant really be adopt on remote countries which internet cant really be reach and it is part of reality where there are really poor countries which cant really sustain for people to engage with bitcoin or any crypto no matter how hard they do and also they dont have any knowledge on whats about.

[Anonylz]

It affects a lot of things, and it is affected by a lot of things too. When someone talks about bitcoin, they are just spreading the word of it, and all those people who heard about them are probably going to be interested in having almost a bitcoin.. But soon they will realize that the price of it is very expensive and they will be much more interested to buy some.
But i dont agree with all those replies that this thread had, bitcoin has been influenced by a lot by those banks and shady governments that are always trying to defeat bitcoin. Like China and all those regulations that they did over ICO's and bitcoin.

[rayk]

In terms of banking, cryptocurrencies are very useful. there is a very good project called humaniq, it aims to bank the unbanked.

[The Golden Boy]

what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?

I do not see the big social impact off cryptocurrency yet, but I believe that in the future we will see a lot of social impact from the blockchain technology, when it comes to the things like elections where we can use the blockchain technology to prevent any fraud.
Cryptocurrency in economical impact we begin to see in mainstream Media which means excellent having an impact on the big markets-
I am in the middle of writing an article on social impact we're going to see if blockchain gets mainstream adoption, and I have written a couple of articles on the subject of cryptocurrency impact on the world. Some of my articles can be found at the cryptoms.net other of my articles I have written under many different names and on many different sides. I may be new to this forum but they're not near to the crypto currency unit I have been trading and investing in cryptocurrency for a couple of years now.

[iram3130]

Decentralization in our day to say life is a very huge aspect and we all need to understand how we can be truly decentralized with our money. Cryptocurrencies are the next generation currencies and early implementation is the best way to welcome it.