Will crypto solve socioeconomic problems?

[mrcash02]

Let's say I buy something from another country for BTCs. The transaction occurs smoothly, seller and buyer are happy... Then the product arrives on my country, it's held by the customs, the customs take several days to release the package, extra taxes are imposed to me, otherwise I can't receive the package... I pay the tributes, but the package still takes weeks to reach my city.

As that maxim says, "time is money", and in this case people are losing both, consequently it will affect the economy negatively.

So, you ask: Does Crypto solve socioeconimic problems? Definitely, no. Crypto is just a gear in a big mechanism. If one gear works perfectly, but the another gears don't work or work very precariously, the system won't work properly anyway.

[Crystal24]

Yes. Crypto is capable of solving many socioeconomic challenges being faced in the everyday life of people,busineses etc

[chaoscoinz]

If everyone around the world gets into cryptocurrency, do you think it will even help in solving or lessen socioeconomic problems? Can it be used to buy goods from other countries? It is fair to say that crypto will help a lot of people but what will it do to one's country? Will it help improve a country's economy?

What's good for a goose, isn't necessarily good for the gander. What may work within one country, may certainly fail in another, due to the different social, economic and governmental structures of establishment, set in place by each individual country. There may be to many factors to consider, in order to make an accurate enough forecast.

[nauredok]

The weakness of real bitcoin security and the vulnerability of e-wallets from theft made investors disappointed in the cryptocurrency bubble. However, the policy of some States can still support the demand for cryptocurrencies
In recent weeks, we have seen a "roller coaster" in the cryptocurrency market. The most famous of them — bitcoin — fell from $20 thousand in December 2017 to $6 thousand in early February, and then resumed growth. Last year, cryptocurrencies became perhaps the most popular commodity in world trade. The excitement still pushed the idea that the possibility of using crypto-currencies is unlimited. But are such ideas justified and how to explain what is happening from the point of view of standard economic theory?

[brolekset]

money is an institution of trust." The basis of the existence of Fiat money is trust in their future. Money is accepted today, hoping to use it in the future, near or distant, which remains true for digital money. Confidence in the future is provided by today's real goods, goods, national income ("do not need gold to him when a simple product has") or expectations of the future use of money for consumption.

[Eigig]

One of the socio economic problem affecting all over the world is the unemployment especially in the third world countries , but for this the cryptocurrency can really help this socio economic problem of unemployment, crypto can provide work in the internet for those who are interested and willing to participate in cryptocurrency, by joining the bounty ICO project campaign ,you can earn through rewards ,and this could provide an income.

[cryptocoinshunter007]

I don't think crypto can solve socio-economic problems. In a society, the problems mainly depends on the people in it, what and how they are thinking and many other things. Unfortunately, crypto cannot change peoples' thinking. Crypto is just another type of currency, which has nothing to do with the emotion or the thinking of the people. So, unfortunately, it is a NO.

[Plumbank]

The poor will always want to reach to the top, but the rich will always want to keep their place on the top. So, the rich will always try to push them down. This tendancy does not depend on the currency, no matter it is cryptocurrency or not. So unless we can change this tendancy, the socio-economic problems cannot be solved.

[CanyonsBull]

There are several possibilities from my opinion. Cryptocurrency can provide a better socioeconomic environment if it has less volatility. I think it is better as an alternative currency.

[BraveHeadlight]

The fluctuation of prices is the the main problem. Otherwise cryptocurrency can be used by everyone. Many people are afraid of the price falls. I don't think they are going to accept it.

[williamcastaneda]

If everyone around the world gets into cryptocurrency, do you think it will even help in solving or lessen socioeconomic problems? Can it be used to buy goods from other countries? It is fair to say that crypto will help a lot of people but what will it do to one's country? Will it help improve a country's economy?

yes, if each country helps one another, then it can improve the economy with cryprocurrency but there are some countries that still prohibit cryptocurrency as illegal money

[JamesWood1212]

I think it can solve people's economic problems but not for the country because bitcoin cannot be controlled.

[erikoy]

If everyone around the world gets into cryptocurrency, do you think it will even help in solving or lessen socioeconomic problems? Can it be used to buy goods from other countries? It is fair to say that crypto will help a lot of people but what will it do to one's country? Will it help improve a country's economy?

Yes there is a chance that cryptocurrency could solve socio-economic problems like having some transactions with third party wherein those third party sometimes takes advantage on its clients. And here in cryptocurrency since that it is blockchain it could remove the part of taking advantage or in short it could remove corruption as we all know that some third party collect so much transaction fees on some of its transactions.

[batang_bitcoin]

If everyone around the world gets into cryptocurrency, do you think it will even help in solving or lessen socioeconomic problems?

Yes it will.

Can it be used to buy goods from other countries?

Depends on the merchants from those countries that you will purchase goods.

It is fair to say that crypto will help a lot of people but what will it do to one's country? Will it help improve a country's economy?

Of course it does, just think of it that it can generate new source of income to people who have something to earn.

[deppil]

To make an impact on socio economy, cryptocurrency is needed to be accepted all over the world as a common currency unless it cannot help that much.

I think it doesn't need to be accepted around the world to change socioeconomics. because if you look at the development of bitcoin in a country that prohibits bitcoin. like my country. there are no major obstacles to using it and some people succeed in improving their standard of living economically with bitcoin

[farhiamunni]

i think you are right. My answer is also yes. Crypto market can involve this problem if any country face socio economic problem as this market follow blockchain technology and many countries are involved in this market. so i think this work is easy for them.

[Aikidoka]

If everyone, that means all the world, gets to rely on the cryptocurrencg rather than fiat, then we will see a dominant coin. That means, they will try to purchase it in order to buy things. I believe that people need to change themselves because cryptocurrency has nothing to do with changing the world for the better. Only people are capable of doing so. Crypto can be used for good and bad purposes just like fiat money. If only people use it for good purposes rather than wars, we will see a better world.

[goldencrypto7100]

Yeah, cryptocurrency can solve the socio-economic problems. But its only for few people those who are able to buy cryptocurrencies. Not for all people.

[btcmaster999]

Yeah, you can use cryptocurrency to buy products from other countries at any time easily. Because cryptocurrency is a virtual currency. So, you can use it all over the world.

[jackpot888]

It is not possible that every people will be able to use cryptocurrency. Without changing the socio-economic condition of almost all people, no nation can change its economic condition.