How Cryptocurrency Can Help Developing Countries?

[fundyourself]

IT’S EXTENDED!!   

We’re running an intriguing survey on our Reddit thread about the major problems in the cryptocurrency markets today. Would love to hear your thoughts. We will be sharing the results of this survey after a week on our reddit page. If you’re not yet subscribed, please do so in order to have quick access on the results.

Here is the link: https://www.reddit.com/r/fundyourselfnow/comments/85r2tp/survey_on_the_major_problems_in_the/major_problems_in_the_cryptocurrency_market_survey/

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[fundyourself]

Don't forget to join our survey on our Reddit thread! We'd love to hear your thoughts about the major problems in the cryptocurrency markets today.
View the survey here: https://www.reddit.com/r/fundyourselfnow/comments/85r2tp/survey_on_the_major_problems_in_the/major_problems_in_the_cryptocurrency_market_survey/

[rajkr]

It is global currency so when devoleping country will accumulate it.They will have good foreign currency as $ .Now it is good opportunity to find the potential of crypto currency and exchange your own currency with it.So in future u may become holder of valuable currency.Thus opportunity is available to all country equally.

[GreatBug]

For me there is a chance to do that if country and goverment make bitcoin and crypto legal with some taxes that don't make it unusefull, in that way there is a chance to help in developing.

[MintDiceSupport]

Bitcoin and blockchain tech can help "facilitate low-cost remittances for those seeking to transfer low amounts of money internationally." Just think of all the people who live and work in one country but send money back home in another country to their families. Many of these people would rather not have to deal with potentially corrupt or inefficient banking infrastructures and would much rather prefer a faster and more secure option for transactions of this nature. Crypto is still a ways away from relieving this issue but regardless, this is one of the proposed solutions people foresee btc taking part in. Check out the articles below as they go into more detail...

https://www.ccn.com/will-bitcoin-blockchain-build-finance-developing-economies/

https://blockonomi.com/cryptocurrencies-developing-countries/

Cheers!

[Minnasan]

it may be assumed that poverty, corruption, inflation, and high unemployment are some of the most common problems in developing countries around the world that result in the difficulty of development in a country especially in the economic field.

so I think of course that crypto currency can help the development of a country especially in the economic field ... but it does not work directly to a country's changes,

because the economic upheaval based on the crypto currency can not change the economy of all citizens in a country, but one by one because people who use crypto are also still not too much ...

so if crypto curency is said to help the development of a country it is a right thing ....

[safetrade]

Free speech, governance, freedom, and fair trade can all be blockchained.

[mustafizur8400]

If we can use it as a common digital currency world wide it will solve problem of devaluation of currency, losses arises from fluctuation of exchange rate etc.

[Requim]

They say Poverty, corruption, inflation, and high unemployment levels are some of the problems that are common to developing countries around the world. In this case, do you have any idea how Cryptocurrency can help and what are those???

I believe that cryptocurrencies can help the countries innovate their system, particularly when it comes to the payment system and how transaction flows within that specific country. Overall, it is mostly for the improvement of everything rather than what people say which is changing, but more of changing for the better.

[Darerando]

Crypto currency had truely proved to be the source of solution to most difficulties in developing countries. Which could be unemployment, poverty, unbanked
systems, and Corruption. But with the help of crypto currency, can help innovate and enhance the improvement of the developing country.

[LtMotioN]

The problem is you need to be tech savvy to use bitcoin right now, which is unfortunately a lacking skill in large portions of the populations in these countries. Untill it becomes more user friendly we won't see massive adoption.

People are also naive for the most part, only bitcoiners have asked themselves what money really is. I myself never even thought of the concept before I got into bitcoin. We still have a long way to go before people accept cryptocurrency as actual currency.

In South Africa we are likely to be Zimbabwe 2.0 soon. I am moving my wealth into BTC bit by bit, situations like this gives BTC a very good use case. Since my wealth will still be secure when the banks fall and we move to hyper inflation

[Sferium]

I think the technology behind blockchain and smart contract would eliminate some of the corruptions and inefficiencies in developing countries.  Although I'm not saying that the symptoms are only prevalent in those countries.  Developed countries are also corrupt in many ways but they legalized it using some fancy names such as political contributions, PAC,  etc..

[ICO Enthusiast]

Poverty, Lack of jobs, Lack of capital, Poor financial inclusion these are the problems by which a nation cannot move into a better situation and grow itself globally. Cryptocurrency can resolve all these problems and make a good future of a country.

[23xfi]

They say Poverty, corruption, inflation, and high unemployment levels are some of the problems that are common to developing countries around the world. In this case, do you have any idea how Cryptocurrency can help and what are those???

For a while, cryptocurrency was only a dream to the majority of the people living in developing countries simply because they had no means of owning these coins. Even at $100, Bitcoin was way too expensive for me but a certain crypto changed all that; STEEM.

STEEM made it possible for anyone from whatever background to earn crypto without having to spend anything. As more people began to earn with STEEM, they were now able to look into other projects (Bitcoin first, then other altcoins) and start to take full advantage of all the powers inherent in cryptocurrency. Once that foundation has been laid, cryptocurrency, and indeed blockchain technology, can then go on to liberate the people from poverty, corruption, and possibly bad governance.

[berick prima]

They say Poverty, corruption, inflation, and high unemployment levels are some of the problems that are common to developing countries around the world. In this case, do you have any idea how Cryptocurrency can help and what are those???

Should the use of cryptocurrency be legalized across the country, the State also administers it further unemployment provided with sufficient knowledge of cryptocurrency and granting permission to do business is surely many people who can turn their lives into riches.
While the government participates in supporting the use of cryptocurrency.

[p4npos]

Many of the developing countries are in debt with the IMF, World Bank, etc. The cryptocurrency and Bitcoin can help them by getting rid of these countries of their dependency on the U.S dollar. The cryptocurrency can be very helpful in time of inflation.

[missg23]

Many of the developing countries are in debt with the IMF, World Bank, etc. The cryptocurrency and Bitcoin can help them by getting rid of these countries of their dependency on the U.S dollar. The cryptocurrency can be very helpful in time of inflation.

Lack of financial funds, poverty, lack of job offers and corruption. These situations could make a developing country fall and globally incompetent. But with the help of cryptocurrency these scenarios could be resolve and can save a free country.

[clarise123]

for the bitcoin to spread across the country. should propose that bitcoin is not a scam of that kind of business