Can crytocurrency reduce Global Poverty ?

[Nicolaus Copernicus]

We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?

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[lizardbtc]

We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?

First things first you have countries that still don't have paypal and other internet money services or yet their banks might not allow you to move your money outside to specific countries etc. What cryptocurrency essentially can do is open whole bunch of opportunities where nobody can tell you that you are not able to transact and spend and use your money the way you want to. With marketplace like openbazzaar and many new innovating this happening on ethereum blockchain and others I see huge benefit for poor countries.

Although overall they can't reduce poverty as one human can reduce poverty only for himself by providing the value to other people and getting paid in return. So you will still have to work until sci-fi AI takes over.

[sebastianweyer655@gmail.c]

Blockchain can definitely help. Cryptocurrencies could do but they haven't so far, remains to be seen how helpful they'll be for the poor.

[alexzorgo]

Of course, crypto-currencies are the key to eliminating poverty in underdeveloped countries. The population of poor countries has a lot of unfair restrictions that do not allow them to change their lives. They can not get primary school education. They have class, religious, infrastructural, financial, political and geographic restrictions. In many such countries, the government is not interested in the development of its people.
Therefore, I believe that the crypto currency is another way to reduce discrimination in the world economy.
At the moment, we can observe Venezuela. This first country, which is under the sanctions of developed countries, has issued its own national cryptocurrency.

[N-gen]

Of course it can be, because anyone can become a crypto mania, let alone he who has expertise in the field of computers. Because the world of crypto is still very open to anyone, but somehow until then but we have to think logically, because I think crypto currency will soon dominate the global economy

[cutiemolit]

Of course it can be, because anyone can become a crypto mania, let alone he who has expertise in the field of computers. Because the world of crypto is still very open to anyone, but somehow until then but we have to think logically, because I think crypto currency will soon dominate the global economy

Through proper education about crypto and resources to operate it, I really do believe that poverty would reduce. If all people would do trading and campaigns through Bitcoin unemployment and poverty rate would reduce too. By this the economy would improve and can help each individual become successful .

[manoj6233]

 They even have the potential to reduce global poverty by facilitating better access to capital and financial resources, and by enabling small ...

[Muhammad Muneeb]

We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?

i am living in an underdeveloped country and as far as i know the people from my country who have invested in the crypto has suffered massive loss because of market dip and they don't want to invest more into crypto.. i myseld  has suffered massive loss in crypto trading but i am learning the market trend by making loss trades

[henryba]

indeed, it can help a lot of people, especially in less developed areas I think.
but to do that, you have to learn and master the subject.
it's not an easy area and there's also a way to get ripped off for novices.

[batang_bitcoin]

We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?

Blockchain is ideal for countries that are underdeveloped but it's also ideal for developed countries.

Crypto's are also ideal for those said countries. It means that in all countries cryptocurrencies and blockchain can help the economies as it adds value or source of income to them. But it's those countries aren't just going to allow everything these two to conquer them.

[Mhd-Bobbi]

We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?

certainly can. it all depends on your own. not everyone understands this cryptocurrency. they do not know much about crypto. if they understand it then it will reduce poverty in their own country. because they have a source of work and income from crypto.

[novaprime]

We know that Blockchain is making big waves among wealthy investors, But Do you think blockchain and cryptocurrency have the potential to benefit the people who are living in underdeveloped or developing countries and are in desperate need of secure, reliable, and affordable financial services ?

Cryptocurrency is a miracle. It has helped many people make more money and make many people poorer. I think Crypto is unreliable because so many hackers can steal coins easily. Taylor has been stolen more than 2,500 ETH. I did not believe in trading platforms anymore.

[ruffles2016]

I think it can really help out poor countries under heavy embargoes. Venezuela was given as first example and yeah its first of its kind. It may also help touristic countries to make money easier by discounts over crypto..

[dumplingsandsushi]

I would say no.
Unfortunately, there are parts of blockchain tech that will empower those much more in undeveloped countries.

Currently, since it is mostly unregulated, it is a free for all market.
What we are starting to see more and more, is a vast amount of whales starting to dominate certain coins and having the power to manipulate the market.
They can have power over those who don't and use the market for their own ends.

IT is actually similar to the real world market.
In order to make money, you have to have money.

However, I don't see things as being totally hopeless.
There are many ways that blockchain tech can empower those impoverished.

Through airdrops and bounty programs, those who don't have that much financial means can get a heads up in crypto and through skill, knowledge, and luck can trade their way up to owning a very valuable portfolio.

[Anton1105]

Of course, I'm sure that the digital economy is capable of minimizing the level of poverty. This can be evidenced by the participation of large multinational companies in the process of implementing blockchain technology in the money transfer system. For example, IBM announced a partnership with a network of international banks to use the blockchain platform, which will allow people to send money to other countries in the crypto currency. MasterCard also announced that it will open its block chain as an alternative method for cross-border payments, which may also be more effective.
Read more in this article: http://knowledge.wharton.upenn.edu/article/blockchain-technology-can-serve-nots/

[@theman]

I don't think that's true. It seems to me that the poor have no money because they are lazy and do not want to develop

[sourish]

Today technology and education has reached every part of the world, and i think that would be a major factor in favor of crypto reducing global poverty.

[Kate Beckett]

Yes, crytocurrencies can reduce global poverty thanks to their decentrilized nature. Decentralization allows not one person, but many network users to make decisions and participate in the process of regulating this area. Thus, not one person or a group of people has power, but there are thousands and millions of people who are able to decide and take responsibility for their decisions.

[passwordnow]

It definitely can, just think of it when people from slowly developing countries will earn that much in crypto.

They are part of the global poverty and by getting a decent way of living through crypto's they will reduce the percentage of global poverty index.

[Surge_Dev]

 I don't think so. In my opinion, cryptocurrency won't be able to reduce Global Poverty. Only the proper attitude of the government will be able to do this. I am sure that it is possible if governments take more efforts