Can crytocurrency reduce Global Poverty ?

[Olano]

I am sure, firstly, cryptocurrencies can benefit people from disadvantaged countries. Developing countries are in great need of a stable, reliable currency. And the cryptocurrency can help in this. The experience of Venezuela with the cryptocurrency El Petro confirms what was said.

[ufaiz50]

this can happen because some people from the article that I read and the member here is helped in financial terms, and even so cryptocurrency makes people so poor because of losing money from trading, investing and gambling, that's why many say that cryptocurrency is like a double-edged sword.

[thepo1m]

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 ?

Yes, but not at the big scale you are expecting, do you know the number of Crypto millionaires we have now, Crypto has turned around alot of lives, the big issue is that the concept behind it is very abstract for uneduacted people and this is a very serious problem

[Kate_Ngubanga]

Of course, there are those countries that have not yet reached the infrastructure that exists in large megacities and countries, and only crypto can help them to combat the current situation.

[mary_55]

Before talking about that you should keep in mind the fact that cryptocurrency is still banned in many countries. So for it to serve as a way  to reduce poverty, make sure it is accepted globally.

[dianikusuma]

Crypto would be helpful and could provide a major influence. However, this is still a lot of debate for each country are potential can secure crypto to be utilized or not. But if they see the benefit then if in the problem of poverty then the crypto can be a way out.

[marmeladko]

I think that answer in No. But with cryptocurrency they can get access to online shops, education platforms (Paypal doesn't work in whole world, so users can't pay for online services). Also in countries with high inflation even BTC can be "stable" store of value. But cryptocurrency can't destroy the line between poor and rich people.

[thamas_22]

Why not? There're a lot of people sitting unemployed and searching for jobs. Crypto currency doesn't need that much qualifications. What they need is a lilttle bit of study and experiance. This field has brought opportunities for the unemployed which may reduce poverty one day.

[Atm2020]

I will go a little bit different from what people are thinking about crypto currency as a factor that determines the rate of global poverty. Let it be at the back of your mind that crypto currency, just like fiat currency, is not intended to reduce poverty rate but to serve as a means of online payment. How do you even invest in crypto currency when there's no money?

[fitraridwan]

actually, cryptocurrency is a good currency. but the current development of cryptocurrency is not so good, especially in the developing country. many people who oppose the existence of cryptocurrency because they consider cryptocurrency is unsafe. I hope the cryptocurrency can enter the developing country because we know that many benefits that will get. with cryptocurrency the economies of the underdeveloped countries will also be helpful.

[gune68gune]

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 ?

Crypto currency is a good innovation that can make transactions easier. Crypto currency may be the thing that can change poverty, but it needs strong support by a person or group who wants to change his life. For those living in the interior it would be difficult to use or invest in crypto currency.

[annasadia]

It’s a good question because based on bitcoin many investors are invest money and some are using this like a company so many jobs are creating so many people can get job here also with this money a country can develop their economy so poverty level may decrease . Based on this if we invest in BTC it will be beneficial for us.

[angelfaria]

I think that is difficult, but, yes, of course possible. In order to get all the facilities by the people of under-developed countries, they must of course have the access to technology. If that demand is met, then blockchain system and cryptocurrency will have the potential to improve the financial conditions of underdeveloped countries.

[pantet]

Yes i think this is the key to reduce global poverty. But in order to do this I think people at underdevelope countries should be aware how this will work. They should be knowledgeable enough on how to work with crypto to be productive. This is not as easy as a computer games this will include knowledge and smart techniques to succeed.

[unusualfacts30]

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 ?

Global poverty is not that simple and it's difficult to shake it off with blockchain or any other means. Poverty ridden areas in developing world requires education so may be blockchain can help provide education to them but you still need infrastructure, uncorrupted individuals and people who are wiling to help.

[bitsmichel]

I'm thinking about that is very hard to bitcoin solve most of world problems, but I see that it's giving us many oopurtunities, especially for jobless people to earn money for living

[basyang]

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 ?

Global poverty is a huge problem of every country and even the government did not afford to solution it. So, how the cryptocurrency can reduce it if the government can not do it. Not all problem in economy can be solve in bitcoin especially if its not legal yet. Its hard to say what bitcoin can do particularly in the matter of financial services its a huge responsibility can bitcoin hold. Even though bitcoin has many opportunity to us and to our economy but its different economy between developed country and undeveloped country so we can not defined easily if bitcoin can help it or not.

[ervanikan]

I think blockchain has changed the world and made all investors gain profit and many companies have benefited,
I think blockchain can be dependable as a secure, reliable, and affordable financial service,

[v3liana]

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 dont know , i believe fintech is mean to make transaction more effiecient, low cost and reliable. I dont think it could helping poor people at all.  There will be always poor and wealth and it how the world is. Maybe blockchain could make something that can help disteibution of fix income, there is theory about fix income and i believe its only eay to fight poverty but i dont think it will turn out good cause i believe it will make people become more lazy and not struggle in life.

[Renu kapoor]

Currency of currency notes can never reduce poverty of any country, there is a fix ratio of currency notes which a country can print, secondly currency is a source of buying things you cant eat or wear notes, need of human can fulfilled by sources of employment and working condition, excess printing of currency can bring to inflation and so many other problems, so it is very difficult to say that cryptocurrency can reduce poverty.