Crypto Currencies - Solution for dying Economies

[a2zC]

Yeah i am completely agree with you. Cryptocurrency can be a good option for the countries which have economic problems. Besides it can be an economic solution for all the country of the world.

[BItCoinPidger]

Your concept is good but what I believe is that there will be so many challenges because of the people itself of that countries. The government may not agree with that, as well as the people might not adopt this in a very positive way.

[beleyeleazar]

Countries of third world are being controlled by powerful economies. They are always at the risk of Financial recession. Many Countries have valuable natural reserves or potential to do progress.

country which has oil, gold minerals and tourist places but do not have enough funds to invest on these project. So to bring some investments a coin may be introduced for development in these fields and sharing profits with all coin holders. just like current system of issuing bonds by governments.

I don't know about that. there are still a lot of people who are very hesitant or somewhat avoiding cryptocurrency. People are scared of it because they don't really comprehend what the capabilities of blockchain technology. How can you expect a government to trust cryptocurrency when people are not yet educated about it.

[Milansilver7]

I agree with you, countries with natural resources such as petroleum, gas, coal, copper, iron seeds and other natural minerals can raise funds by inviting investors to join their ICO and fund their projects, if this happens in a country then the economic gap will be reduced and the country society will be happy.

[RadiontLoss]

Yes, I agree with you. This can be a unique thing to do. But, there will be a lot of barrier in this case. First of all, Crypto currency is still not get adopted by many developed countries so how could we think that the underdeveloped and developing country will accept it.

[CryptoPairFTX]

yes, you are right, It might help e alot to the economy who don't have the monetary asset but have so many others to compile with. But the biggest barrier here would be the governments of that countries. Hope this idea will work and get introduced.

[Brequir]

Exactly what I was thinking when I saw ICOs coming up with funny and useless concepts whereas they could have helped any poor or underdeveloped country by solving the problems they face in their daily life. That's how you should normalize cryptos and make the population of the world mass adopt the blockchain technology.

[Agaventy]

There are third world countries already who are being helped by blockchain and cryptos to solve their real life problems. Kenya is being helped by Bancor, Zimbabwe is trying to solve their inflation problem using cryptocurrencies. I think this is just the beginning. Soon, other countries will see the results and start adopting blockchain or cryptos to help themselves.

[Bit poul]

What you have stated could be made possible if two things happen. First, someone needs to take the initiative of starting the crowdfunding and secondly, the third world country that we are trying to help should allow the utilization of cryptos and blockchain, otherwise all the efforts will go in vein.

[Mir Zafar]

It is a good idea to bring projects that will work on the sectors that are untouched by the crypto market. It will be able to bring potential investors too in the market and might generate more investors too.

[HEAUSUCE]

I agree to your idea. Our world might soon face an economic recession. There are many countries who does not have enough fund to invest on this resources. A cryptocurrency which will help in development of this field is really appreciable.

[Atrom_84]

Wow that’s a very good idea. I really like it. Crypto supporter countries can apply this method. I believe that it will be a successful one.

[rocketbits]

Most developing countries do not have gold reserves, which ensures stable operation of the financial system. Such countries are puppets of strong countries. It's a good idea to use crypto currency instead of gold.

I agree. It must be good idea to have bitcoin as the reserve instead of having gold. When countries start accumulating bitcoins then bitcoin price will increase which lead to have stronger economy for the same money that they have spent for buying bitcoins. I am not a master in economics still I believe bitcoin is 100% suitable replacement for any country's reserve asset.

[wozzek23]

We first need to make cryptos more stable. If BTC could start to behave like a real currency then it could really help poor countries IMO.

But, bitcoin will remain highly volatile for next 100 years at least. Still, it does not mean bitcoin cannot help poorer countries or for dying economics of other countries. I mean to say, bitcoin may help any country to stabilize its economy regardless of its unstable market prices. Bitcoin is here to have million dollar prices hence it will not remain stable in any near future.

[Markistrue]

Cryptocurrency provides opportunities for people who have no jobs. For people who stand at home because they take care of their children. This really opens up opportunities for everyone.

[cityhall]

It's not that simple.  No matter how much money you give, if it's the wrong government, corrupt politicians, that money will gone.  If the country political condition is good, big investors will come.  No need coin like Venezuela do.

[cryptogeek101]

Countries of third world are being controlled by powerful economies. They are always at the risk of Financial recession. Many Countries have valuable natural reserves or potential to do progress.

country which has oil, gold minerals and tourist places but do not have enough funds to invest on these project. So to bring some investments a coin may be introduced for development in these fields and sharing profits with all coin holders. just like current system of issuing bonds by governments.

This is quite true for the third world countries where they are suffering from financial recession,the decentralized nature of cryptocurrency will help solve the pending funding issues of those countries. Through the blockchain ICO ecosystem startups can easily raise money to fund some projects that will enable the development of their economy.

[lxiaoh]

Fella, your idea is fantastic, it seems that what you said would become ture someday in the future. But I have a question. The two countries like Zimbabwe and Venezuela were very keen on cryptocurrency last year, but haven’t achieved much so far?

[vladuch1]

Countries of third world are being controlled by powerful economies. They are always at the risk of Financial recession. Many Countries have valuable natural reserves or potential to do progress.

country which has oil, gold minerals and tourist places but do not have enough funds to invest on these project. So to bring some investments a coin may be introduced for development in these fields and sharing profits with all coin holders. just like current system of issuing bonds by governments.

I think third-world countries can really use such a strategy to succeed. But in this situation a lot will depend on the government of the country. Corruption can immediately eradicate such a strategy.

[dnovsckym]

For the underdeveloped countries, a big investment is needed to develop this sector of the economy!