Is blockchain the answer for poverty-stricken countries?

[MrsBlockchain]

I have been seeing lots of community initiatives recently using blockchain; Bancor is doing a lot of work in Kenya and I know Akon is planning his own coin to help to communities out of poverty. Personally I think this is one of the best real-world use cases for blockchain, and one that we should see more of.

https://twitter.com/DavGit/status/1024656690308894720

[1714007656]

1714007656

[CryptoPairFTX]

I believe that the Blockchain will emerge as a blessing for the country's prosperity. When you look at Kenya, you can see that they have chosen Blockchain to self-reliably. Because Blockchain is the best technology of the time. It is highly trusted and promising.

[lghdt943]

Blockchain can bring prosperity to the country, precisely because those small countries need cryptocurrencies and can see the value of cryptocurrencies, which I think is not visible to many big countries. In those small countries, it can develop better.

[cryptocrabs2]

With the help of blockchain, decentralization of currencies have been possible. The main fact that being seen, many blockchain projects are trying to solve the poverty issue with the help[ of the investors. Blockchain inclusion in African countries can help reduce the financial corruption and scopes to get cheated by including local currencies into the Blockchain. It will make transactions more fast and transparent and help reducing poverty.

[WolfRisk]

I think blockchain technology can change an economy graph in a county; that's why Poor country are accept bitcoin and want to change their economical chart. In kenya already strat this policy. Because blockchain technology are more secure and potential.

[MeaglesMind]

I also see that a lot of community use Blockchain. It  can remove poverty in third-world. But as with anything absent in the hand of humans, whether we select  to use its impending for good remains to be seen.

[alonshvartsman]

The Kenya initiative that Bancor is planning is huge for a different approach to humanitarian efforts.
https://cointelegraph.com/news/bancor-launches-community-token-network-to-combat-poverty-in-kenya

[maxwellfreeman]

Maybe it'll end up that way. I think it'll start by helping corporations automate their paperwork (basically). With the increased efficiency with large corporations and startups, ideally it will allow developing countries to develop relatively quicker.

[covfefe_]

This would ease up the difficulty in transactions and donations but I don't really see how blockchain can benefit poverty stricken countries.
Blockchain is making the rich richer and hence making the poor poorer. Donations only can never solve poverty.

[xenosaga]

I have been seeing lots of community initiatives recently using blockchain; Bancor is doing a lot of work in Kenya and I know Akon is planning his own coin to help to communities out of poverty. Personally I think this is one of the best real-world use cases for blockchain, and one that we should see more of.

https://twitter.com/DavGit/status/1024656690308894720

Hmm... This is worth exploring, but I don't think this would solve majority of the problems of the third world countries. In the frst place, it's up to the government and its people if they are going to be a third world or not. It's a decision I think. But it's too big to tackle here.

[klasik1980]

Blockchain can eradicate poverty in third-world countries (delivered in a shaky voice from the podium). But as with anything left in the hands of humans, whether we choose to use its potential for good remains to be seen. And while many great ideas are currently little more than PDFs hosted on fancy websites, let’s hope it won’t be too long before the best ones start working out.

[paramelton]

One of the greatest obstacles that separate the wealthy from the poor is financial inclusion.  As per World Bank report, about 1 billion purely situated grownups have a mobile device, and about 480 millions get e-access. Can you imagine how dramatic impact this could have if combined with the blockchain? Yes, i truly believe in this.

[duoworld]

I think that blockchains bring wealth to the troubled areas. Even those who don't have money can get money through cryptocurrencies, or they can reduce taxes through encryption technology. I think it's a good thing.

[@ophiuchuss13]

an exceptionally great idea for developing countries. this will allow many people to leave the poverty zone. I hope that the good idea will develop and not become a way of profit or something dirty. I am for the development of the blockade in all countries without restriction

[Nikola95]

No. Blockchain can't help solve poverty in third world countries. Why ? Example is Africa. They are in poverty because of disrespect of law, and their education is probably terrible. First what they need to solve is to fix law, and to force people to respect it. After that to work with education. And only after that there won't be wars, drug and weapon trafficing etc. ANd than they can work with blockchai

[Browncephas]

One of the ways blockchain can help the poor is by altering the flow of money. Most of the money pouring into developing nations is not from foreign aid, but rather from remittances. Study's shows that on an average, more than eight percent of the remittances sent to developing countries each year is lost to fees. Because blockchain removes the middle man, the cost of sending remittances would drop significantly. Since more funds would be reaching their target recipient, senders would be motivated to send even more, thus further increasing the cash flow into developing nations.

[Olalomi]

I have been seeing lots of community initiatives recently using blockchain; Bancor is doing a lot of work in Kenya and I know Akon is planning his own coin to help to communities out of poverty. Personally I think this is one of the best real-world use cases for blockchain, and one that we should see more of.

https://twitter.com/DavGit/status/1024656690308894720

Blockchain technology has the capacity for redistribution of wealth if properly channeled in a poverty strickened countries and this technology can cater or eliminate third parties that is synonymous with corruption, Proper use of this technology can totally reduce or eliminate poverty and corruption which is prevalent in the third world countries.

[tableofcontents]

No. Blockchain can't help solve poverty in third world countries. Why ? Example is Africa. They are in poverty because of disrespect of law, and their education is probably terrible. First what they need to solve is to fix law, and to force people to respect it. After that to work with education. And only after that there won't be wars, drug and weapon trafficing etc. ANd than they can work with blockchai

Block chain is not the answer to the problem of the poor. The only solution is if they work and do not give up on life. It's more of a personal issue than crypto

[rijaljun]

Blockchain can be used in every aspect of life, I belive it. What i love from blockchain, beside the technology, is the community. Nothing can unite the world, but blockchain. When massive people join the blockchain, the community, they will find solution for every problem in the world and poverty is one of those problems that blockchain can solve.

[vladuch1]

Creating a coin that would help poor countries overcome poverty is a very wonderful and good idea. But I can not understand how the creation of a coin can boost the country's economy.