Will crypto solve socioeconomic problems?

[painkiller321]

As per me bounties and airdrops are the best options for those whose are running short. And the best thing is, it doesn’t need investment. Ideal for jobless people.

[cryptoking252]

Unfortunately no! because cryptocurrency is not a physical currency like a country has. It can act like money,but can not buy goods for anyone.but I hope one day it will change the socioeconomic problems.

[btchunter786]

Some countries and peoples are adopting cryptocurrency, so I hope one day we can convert the profits into money and buy anything to change the socioeconomic status.Other countries should follow this.

[zubrr51]

Crypto currency will certainly be able to solve economic and social problems, provided that its developers bring the matter to the end.

[SlashEject]

Peoples are investing on this market and earn lots of profit from here and them changing their financial position. That’s why i believe crypto can solve socio economic problems.

[bitcoindiary]

I would say no. because to solve the socio economic problems you must have accepted currency all over the world. But in that case crypto is just within a little portion of the population of the world. So it’s not impact much

[Agnusdei12]

Personally it may uplift your economic condition in life on a small and personal scale. But socially, it seems that it would be very difficult to identify if it has an impact especially most of the people uses technology. Does this improve also their socialization because that is one area that we need to look into.

[rickyNmorty]

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?

If all people are using crypto for living then there will be no producer. Bitcoin can be a form of currency that will help everyone or the economy to have a fair rate to everyone. At the same time, we can not really predict if it will really going to happen. But if thats the case the probably the worker will be machines that are programmed to do specific task. And with that people will love using cryptocurrency.

[Crt01]

Well, I think it will solve the socio economic problem in some extent for sure. If crypto becomes a popular method for transaction many corruption will become inactive for it's decentralized behaviour and It's far more secured as well.

[carlisle1]

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?

Most of the items that has been available in internet can be purchased by bitcoin,and i believe that even houses and cars ar ready to accept this cryptocurrency so i guess one of your concerns are answered already.

And about socioeconomic problem?well this is a government problem the only help that bitcoin can do is if the country accept this as legal currency so it may offer jobs and works for their people

[Antelopez2]

The number of people that are associated with crytocurrency is negligible considering the world population. So to improve the socio economic state the crypto must be accepted first. I don’t see that’s happening soon

[althiche]

I think it’s a yes! It will help to solve the socio economic problems of certain country where the crypto currency is accepted by the people and the govt. Getting into the crypto currency will help the unemployed people to earn profit and help them to fulfill their basic needs. People who are already doing job can do this to earn as their side income. Not completely but partly it will help to reduce the socio economic problem.

[Portia12]

Crypto currency will certainly be able to solve economic and social problems, provided that its developers bring the matter to the end.

It can actually solve the economic problems if most of the people will be legalized to invest on bitcoins or altcoins because in this way they can pay taxes easier than waiting for their salary on the corporate.

[bontkoli01]

Crypto have some quality by which some socioeconomic problem can be solved. Like crypto can be handle by smartphone not need to carry personal wallet on pocket so that should help to avoid carry fiat with wallet.

[Ridwan Fauzi]

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?

No, as many people have said, the cryptocurrency market is very vulnerable with manipulation. Only people who have a large amount of money and invest in cryptocurrency will get a lot of profit. And I don't have a good stare if the cryptocurrency is still suitable for use as a payment system.

[AltCoinShooter]

If you are thinking about a country. Then yes, definitely it can. A country where most of the people adopted bitcoin as their payment system and are not prohibited by its Government. If you are thinking as a whole world, then no. It will not be appropriate because of the traditional form of inequity in financial abilities between the people.

[richminded]

The chances are quite low. The people's perspective won't be changed here. Plus the rich will always try to bleed out the poor. And there are third world countries who are not as blessed like us. They do not even have access to clean water, let alone access to this market.

But we are here to make difference, yes there are some places that still have no electricity or even internet connection, no clear water or what but still we are living in a growing market and I know someday this global adoption will solve this kind of problem. It can really helps one economic to grow only if people knows the whole concept of this technology, and I do hope some government agencies will encourage people to do invest in this technology for their future.

[chosenboy4]

At a purely theoretical level, the cryptocurrencies are based on a system which is robust even when at most less than half its actors are malicious. This would in theory be interesting because it allows anonymous transactions and absence of central authority. However, this depends on actually having completely anonymous entry and exit points to the network. This was relatively easy in the beginning but is more and more likely to be regulated at some point. So, to be clear, just because the bitcoin network can function without knowing anything about its members doesn’t mean the members have to remain anonymous. The bitcoin network would work very well even if all wallets and transactions could be traced back to individuals. Which is what will happen at some point if the value of transactions becomes significant and regulation is enacted by law.

[aliraza6663]

centralized banking supervision is a feature, not a problem. Of course the central banks can and do make mistakes. But interest rates fluctuate by fractions of one percent a few times per year and are meant to do so in a way that helps the economy. Bitcoin, which is the most mature currency, fluctuates by >10% in a day. You can go visit a house to buy and the price will have changed between the time you enter and the time you leave. This is not acceptable for currency! It always sounds nice to blame the government for inflation and all monetary crises, but bitcoin is not free from outside influence. Just because you don’t know who manipulates bitcoin prices doesn’t mean it doesn’t happen.

[chosenboy4]

Cryptocurrencies are built on a technology called blockchain, which restructures and revolutionises trust as we know it today. Cryptocurrencies will do to money what the email did to the letter.

We rely on our transactions to be verified by our banks, how this works is through a centralised ledger .