Bitcoin is helping to eradicate poverty in poor countries

[Flyingjack123]

I came across a post on how bitcoin is and can  really help in financial inclusion especially in poors, especially in poor countries where averege income is as low as 30 dollar a month.
I think we need to focus on educating people on crypto. Once educated people will embrace crypto with open arms.

https://news.electroneum.com/cryptocurrency-can-help-empower-the-billions-of-unbanked-and-living-in-poverty-find-out-what-electroneum-is-already-doing

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[8rch7]

I really agree with your review bitcoin can help eradicate poverty in poor countries, especially in my country, most of the people in my country are unemployed because the government does not open adequate job vacancies, but the problem is we have to try to teach them about bitcoin ,because most people in my country do not have a proper education. after I got to know bitcoin and entered the world of bitcoin my economy was greatly helped and my life is now starting to improve,

[noorman0]

The article is just a form of promotion of the author's project, not about bitcoin. Obviously, "eradicating poverty" is only part of a plan to achieve centralized crypto projects in order to attract as many communities as possible. Even though they talk about bitcoin, there is no attempt by any government to use bitcoin in order to eradicate their country's economic problems. In conclusion, bitcoin is not the solution in this case.

[Bttzed03]

~ Once educated people will embrace crypto with open arms.

What most people embrace is the opportunity to make money from cryptocurrency investments and not really its actual usage. Once they're invested, that also doesn't guarantee they can get out of poverty. In fact, their situation could even get worse because of the market's high volatility and let's not forget various scams/hacks.

[Darker45]

Although the article isn't about Bitcoin, but since the title claims that Bitcoin is helping to eradicate poverty in poor countries, here's my couple of Sats. Bitcoin contributes a little in eradicating poverty. Such contribution may even be insignificant in uplifting the poor from their situation.

In terms of poverty, I personally think that it is almost entirely useless to make the poor their own bank. It's not what they need. It is probably wrong to overemphasize that the poor are unbanked. The poor don't need bank accounts. They need the most basic of needs.

It is false empowerment for the poor to open him/her a savings account in a bank.

Edit:

~ Once educated people will embrace crypto with open arms.

What most people embrace is the opportunity to make money from cryptocurrency investments and not really its actual usage. Once they're invested, that also doesn't guarantee they can get out of poverty. In fact, their situation could even get worse because of the market's high volatility and let's not forget various scams/hacks.

The poor don't even contemplate about investments.

[uneng]

The article is just a form of promotion of the author's project, not about bitcoin. Obviously, "eradicating poverty" is only part of a plan to achieve centralized crypto projects in order to attract as many communities as possible. Even though they talk about bitcoin, there is no attempt by any government to use bitcoin in order to eradicate their country's economic problems. In conclusion, bitcoin is not the solution in this case.

Yes, it's just a marketing article posted by Electroneum official website to promote its cryptocurrency. People behind this project promise to reward adopters up to 3$ monthly, althought further informations and details are missing.

For people living in poor areas it would be awesome to earn an extra 3$ every month just by using an app on their mobile devices or adopting a cryptocurrency without any investments, but I guess it's not sustainable for real.

Talking about the role of bitcoin on this matter, it will be effective once more online jobs and opportunities become disponible for everyone, so people can get paid in BTC when working remotely, especially those living in rural areas far from the civilization.

[mk4]

Re: Bitcoin is helping to eradicate poverty in poor countries

Did you even read the article? There is literally zero mention of bitcoin. It's pretty much just an ad of whatever this Electroneum thing is.

[pooya87]

Bitcoin is a tool and tools on themselves don't do anything. What people do with the tools is going to decide the result. For example as a currency, people would still have to work to earn it so it can't really eradicate poverty if they can't work already! As an investment you still need money to invest in bitcoin and to get out of poverty you'd need a considerable amount, we know someone who is defined as "poor" doesn't have extra money to invest in first place otherwise they wouldn't be considered poor.

In any case you posted a clickbait!

I think we need to focus on educating people on crypto. Once educated people will embrace crypto with open arms.

You mean bitcoin not crypto because if you tell people to buy altcoins all they are going to experience is losses and that would make them poorer!

[amishmanish]

I guess this article is a  part of marketing campaign for a wallet, and it discusses crypto in general, and not bitcoin in particular. But yes I find this idea intriguing, if we can use bitcoin as a tool to eradicate poverty. Yes there are many ways bitcoin and blockchain can help people to achieve a decent income, if used properly, it has made people really rich. Blockchain tech has opened doors for new jobs, which can be done even remotely while sitting in a rural setting, thus helping many to earn decently. This happened in many African countries.

[adzino]

Won't even bother reading the article because bitcoin can never "eradicate" poverty from any country. If this was the case, all "poor" country would make the use of bitcoin to get rid of poverty. The author of the article would probably be seen highly for showing the people the way to get rid of poverty. But no, it is not going to happen. Bitcoin is just another medium of payment and nothing else. It won't remove poverty or anything. Do you really think the poor will be able to invest in bitcoin? Even if they can, they shouldn't based on how volatile the market is.

[bussybuddy]

The issue of poverty or wealth also needs to be considered more fairly here. I don't think economic benefits will bring a completely good direction when social problems are always present. The perception of life is not always easy to tie together if it does not bring happiness to the parties in a positive and correct way, assuming a family just needs to have a simple life and doesn't want to. If they are plagued with problems of greed, delusion, or self-indulgence, they don't necessarily strive to become rich. So I also strongly support the fact that Bitcoin brings a lot of balance to life, but it is also difficult to express whether each of us is looking at the interests of ourselves or the community in the right direction.

[xSkylarx]

Blockchain tech has opened doors for new jobs, which can be done even remotely while sitting in a rural setting, thus helping many to earn decently. This happened in many African countries.

Getting qualified on those jobs requires some educational degree which poor countries often don't have unless the government will sponsor their education or a well-funded private company will do it for free.

I don't really think bitcoin is the key to eradicate poverty as it is much more of an investment for me rather than a currency. Like pooya87 said, how can it help the people if it needs money to acquire it. Even us who are properly educated and can afford to buy it don't think bitcoin will lift us from our current financial status that easily.

[ethereumhunter]

People can accept bitcoin if they are willing to accept something new that is different from what they have been using. But most people will be skeptical of anything new and many of them say it's not good for them when they haven't found out much. Yes, if they can think about what will happen in the future and are willing to open themselves to accept new things, bitcoin can give them the opportunity to earn a source of income for their lives. It will depend on how they accept or not accept because we cannot impose our will on them.

[lovesmayfamilis]

The article is clearly not about bitcoin. An advertising project, of which there are thousands, with utopian ideas of an ideal solution to universal poverty and hunger. I wonder if these ideas will work now. GitHub shows the development activity of this project a year ago.

As for Bitcoin and poor countries, this is also a utopia. Poor people live one day. They are interested in providing for their families, and they simply have nothing to invest in bitcoin.

In addition, information about bitcoin is not closed. If a person is poor but has some creative urge to solve problems with their poverty, he is able to use the Internet and get all the information about bitcoin. If there is no Internet, then he simply does not need this information.

[TheNineClub]

I am sorry to say but it can not and it will not. BTC is not a solution for years and years of economic turmoil, social inequality, lack of education of the poorer community, non-inclusion of the poor (ghettoization), no social mobility, laws that favor the wealthy, lack of worker rights, lack of job opportunities...BTC CAN'T and DOESN'T solve that.
It can help people have some additional income, and help them pay the bill more easily, get them out of a specific financial rut they are in at the moment, but they will most definitely not eradicate poverty that's systemic for as long as there is modern civilization.

Please let's stop painting crypto as something that it's clearly not and start looking at it as it is, and we might have a much healthier community than a bunch of laser-eyed twitter influencer goblins.

[Kakmakr]

The majority of the poor countries are governed by dictators and corrupt politicians that will never allow a technology that will alleviate poverty. These governments use poverty to their advantage, because poor people cannot afford good education and also good medical care.

The poor people are then reliant on the government through social grants and services that are provided by these governments. This gives the government a hold over these people. (Riot or challenge the government.... and they take away these services) 

[livingfree]

You're title topic is all about bitcoin and then putting a link like electroneum.

Okay, let's just set to the topic about bitcoin helping people from poor countries. Actually, it's not just from those areas but let's generalize it that it's helping everyone. Whether you are from rich or poor country, first world or third world, bitcoin really did helped a lot and will keep on showing how it's helpful to those that are holding it.

It's like a new wealth distribution and those people that have heard it earlier but totally didn't gave their notice are regretting that they should have done that before when it's cheap.

Bitcoin is just part of the new best assets to be held by everyone but your fortune still relies on your decision and how you're working hardly and smartly.

[justdimin]

The article is just a form of promotion of the author's project, not about bitcoin. Obviously, "eradicating poverty" is only part of a plan to achieve centralized crypto projects in order to attract as many communities as possible. Even though they talk about bitcoin, there is no attempt by any government to use bitcoin in order to eradicate their country's economic problems. In conclusion, bitcoin is not the solution in this case.

I wouldn't notice the link if I didn't read your post. It seems you are right because the link was about electroneum. Although they mentioned the word crypto but they still highlight their own project.

It's been a long time since I first hear them, thought they have died already but anyways, there are countries where bitcoin is adopted more than just an asset, El Salvador for example and there are now even bitcoin cities on them. That brings a lot of opportunities to the people there but maybe you are right that they didn't rely all to bitcoin. There are some problem which bitcoin cant solve but government should make an effort to bring solutions if they don't want their people to suffer.

[KaliLinux]

I came across a post on how bitcoin is and can  really help in financial inclusion especially in poors, especially in poor countries where averege income is as low as 30 dollar a month.
I think we need to focus on educating people on crypto. Once educated people will embrace crypto with open arms.

https://news.electroneum.com/cryptocurrency-can-help-empower-the-billions-of-unbanked-and-living-in-poverty-find-out-what-electroneum-is-already-doing

This doesn't have anything to do with Bitcoin but I understand once people hear Cryptocurrency they think of Bitcoin however I don't think that what they are saying can actually happen. First people, need to have access to android phones and data which is still going to be a problem with the poor folks in achieving any of those outlines they put out there like this one:

two-thirds of the world’s 1.7 billion unbanked people have a mobile phone. For those who don’t, the Electroneum US$60-smartphone enables them to access the internet affordably, and therefore more easily be able to become financially included.

so they want people survive on less than US$2 a day

Currently, about 600 million people are living in extreme poverty, which means they survive on less than US$2 a day, according to a World Bank study.

to buy an Electroneum US$60-smartphone 

Electroneum ATH was $0.207854 back on Jan 06, 2018, even the 2021 Bull market couldn't impact positively on the project, I can see the desperation.

[yhiaali3]

I am a living example of what a difference Bitcoin can make, the average income here in my country is about $30 a month and that is not enough for the minimum requirements to live, but my life has changed since I got to know Bitcoin, I now get a good income through my work in Bitcoin and sometimes It exceeds my needs, so I strongly agree. Bitcoin can make a real difference to the lives of people in poor countries and improve them for the better.