how bitcoin and blockchain technology can be of help to poor countries.

[Joy- maker]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalize in those countries.

Bitcoin as a decentralized digital currency can allow peer to peer transations without the need of bank in countries with inadequate infrastructure, just with the use of their mobile devices if been ligalize.

Could you believe that blackchain base microfinance platforms can provide access to credit other financial services to small businesses owners and entrepreneurs in poor countries, if been ligalize.

Bitcoin can make transactions faster and easier and also low cost of remittance in poor countries, if been ligalize.

Bitcoin can be accessible and use through mobile devices in countries with inadequate infrastructures, for payment if been ligalize.

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalize.

[JollyGood]

Here we go again. The sceptic in me sees a post that is designed to seek merits. A closer look at the account posting shows it is definitely not a newbie therefore has to be either an alt-account or part of a farm. If I had to make a choice, I would have to go with it being part of an account farm being operated by a puppeteer.

The OP has brought nothing new to the table by mentioning what Bitcoin does as a function but did manage to come to my attention.

[cryptoaddictchie]

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalise.

What you mean by bitcoin related project? If youre talking about btc ecosytem that runs in the altcoin industry then half of them do but not all can be of help sincr some purely made that out to make some money.  Guess the best answer is bitcoin helping poor country by learning about it and take advantage of it when they do know that now. By means of the process is like investing, make it grow, uses mining and many more utility for bitcoin.

[FortuneFollower]

Every country can start looking at BTC differently, poor or rich, it doesn't matter.

I don't think it's about "BTC-related" projects, in a meaning of something new, but about interacting with BTC on all the levels, from lower ones to the ones in charge.
And pushing the adoption further.

[pooya87]

You didn't explain two important things. First being the problem you claim bitcoin can solve and second being the way it can solve it. Just saying bitcoin is decentralized and has low cost doesn't explain your title at all.

This subject is not new. But so far people who like bitcoin think of it as a magic solution to solve every problem. It may be able to do that for individuals but not on a bigger scale for a country. The countries that are poor and with little to no infrastructure are like that for a reason. Bitcoin cannot fix that. The people of that country should find that reason and solve their problems that way.

Like el Salvador. Most people think that tiny and poor country's economy improved because they adopted bitcoin. But that was not the reason at all. They found their issues (eg. the gangs and crime rate plus the lack of foreign investors) and started fixing them. THEN their situation started to improve. Bitcoin's contribution to that whole thing is probably less than 10%.

[Jawhead999]

Bitcoin is just one opportunity from many opportunities for someone to change their life.

But, they need to have few criteria in order to access Bitcoin:
1. Understand and familiar with technology.
2. Have a cellphone, electricity and internet package.
3. Money.

If they don't even have one of them, they will not able to access Bitcoin.

Could you believe that blackchain base microfinance platforms can provide access to credit other financial services to small businesses owners and entrepreneurs in poor countries, if been ligalise.

Banks already offer lending services, those small businesses owners and entrepreneurs can go to banks instead of waiting for another centralized institutions.

[ABCbits]

OP's statement sounds very idealistic. Convincing government to legalize Bitcoin as currency or payment method is very difficulty, even when they generally don't take protectionism stance. And since we talk about poor countries, how many people willing to face Bitcoin volatile price and non-free TX fee? https://mempool.space/ currently suggest 2 sat/vB or $0.25 for no priority, while some bank and digital wallet these days offers free transfer under certain condition (e.g. to receiver in same country).

[Cryptomultiplier]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalise in those countries.

Bitcoin as a decentralized digital currency can allow peer to peer transations without the need of bank in countries with inadequate infrastructure, just with the use of their mobile devices if been ligalise.

Could you believe that blackchain base microfinance platforms can provide access to credit other financial services to small businesses owners and entrepreneurs in poor countries, if been ligalise.

Bitcoin can make transactions faster and easier and also low cost of remittance in poor countries, if been ligalise.

Bitcoin can be accessible and use through mobile devices in countries with inadequate infrastructures, for payment if been ligalise.

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalise.

If underserved and undeveloped countries where to even consider implementing BTC and the Blockchain technology, they would have to make remarkable commitment that will include investments in setting up digital infrastructures, providing the right education, and they may have to work on  the regulatory process that is needed to appropriately ensure everything goes fine in the long run.

Undeveloped countries can definitely benefit in terms of having a say in the financial framework of the country where there's financial services for the unbaked, lower transactions cost and lower fees, transactions across borders, faster and more direct transfer without third party interference and there's transparency which would enable innovation and acceptance.

[john_egbert]

OP's statement sounds very idealistic. Convincing government to legalize Bitcoin as currency or payment method is very difficulty, even when they generally don't take protectionism stance. And since we talk about poor countries, how many people willing to face Bitcoin volatile price and non-free TX fee? https://mempool.space/ currently suggest 2 sat/vB or $0.25 for no priority, while some bank and digital wallet these days offers free transfer under certain condition (e.g. to receiver in same country).

Agreed through and through here.
Unfortunately, for daily usage - it's nonviable for most users out there, anywhere, in fact.

[Majestic-milf]

 This is something we're all familiar with but the question you should ask yourself is that would those in the poor countries be willing to adapt Bitcoin. You mentioned that it can be accessible to countries with inadequate infrastructures and is it not possible that they may be not be able to access electricity and all the other basic amenities.
 In countries that are still developing, it's easier to pitch these sort of idea and have them buy it because they would be initially eager to try out anything that may help boost their economy and create a better living for them but eventually, their interest would move elsewhere due to the fact that Bitcoin is highly volatile and they may not have the resources to keep up.

[Gozie51]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalise in those countries.

How if I may ask?

Bitcoin is not the solution to countries that are corrupt and can't build their infrastructure from budget allocation that goes into the private accounts of the few or individual who pad budgets to their own benefit.

If Bitcoin creates liquidity for individual through long time hodling, will it all create good roads for business and transactional movement, buying and selling that will increase GDP?

If Bitcoin creates the investment through P2P arbitrage trading and the country doesn't have electricity which is the engine for manufacturing, don't you think diversification will be a mirage?

So the priority of poor countries whose majority of the populace might even be illiterate to Bitcoin or Blockchain technology, is not Bitcoin but good governance that will reengineer the people into developmental milestones.

[serjent05]

Bitcoin can make transactions faster and easier and also low cost of remittance in poor countries, if been ligalise.

Please be informed that Bitcoin fee is dependent on the network congestion.  Since Bitcoin confirmation queue is not first come first serve basis, but rather a competition of who will pay more, I am somehow hesitant to say that Bitcoin transaction or remitance is low cost especially when it will go through a centralized services since on top of the Bitcoin transaction fee, there is also this service fee.  With that in mind, I do not think that Bitcoin remittances will be a low cost one.

Aside from that, Bitcoin transaction is instant but confirmation takes 10 minutes in average, so centralized services is much faster when sending a transaction within the same application, and local bank transfers is also almost instant.  The only thing where Bitcoin shine is the international transaction but I believe there are also some services that offers instant transactions in global transfers.

Bitcoin can be accessible and use through mobile devices in countries with inadequate infrastructures, for payment if been ligalise.

Same goes with financing applications.  The best thing with Bitcoin is that we can transfer our funds without asking the third party approval if we do a blockchain transfer.

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalise.

I have not seen such a thing in my country, because Bitcoin-related projects often falls under financial services, while internet connections falls under technology and communication.

There is no doubt that Bitcoin technology offers a variety of opportunities to everyone, the main concern would be the leaders of the government since they are the one who gives a go signal on which regulations and projects to implement.

[348Judah]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalise in those countries.

This is not about legalizing bitcoin as an acceptable means of making payments or a legal tender by any country as the major challenge, but how they are going to maneuver their opportunity from taking this step to develop their country for good, am going to site in two examples for you to take a look at, Bitcoin has been made a legal tender in El-Salvador and Central Africa Republic, but is it obvious that El-Salvador had plans already in place for its decision and that is why they never for once regret taking this decision on bitcoin use, whereas things have almost remained the same in Central Africa Republic after it's own adoption, all because the necessary plan before the strike in action take effects were not in place, Bitcoin can help improve on any challenging economy of a country, only if the leaders and the people will all work towards a common goal to acheive what bitcoin has to offer, but most of our leaders may not allow for this.

[avp2306]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalise in those countries.

Bitcoin as a decentralized digital currency can allow peer to peer transations without the need of bank in countries with inadequate infrastructure, just with the use of their mobile devices if been ligalise.

Could you believe that blackchain base microfinance platforms can provide access to credit other financial services to small businesses owners and entrepreneurs in poor countries, if been ligalise.

Bitcoin can make transactions faster and easier and also low cost of remittance in poor countries, if been ligalise.

Bitcoin can be accessible and use through mobile devices in countries with inadequate infrastructures, for payment if been ligalise.

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalise.

Why do you always relate Bitcoin to poverty while in fact this is not the reason why this coin created.

Maybe read here what is the purpose on why Bitcoin created https://www.coinbase.com/learn/crypto-basics/what-is-bitcoin

Also poverty solution will depends on the action of government and people  since if rampant corruption is happening and less education plus effort done by people there's still nothing will happen even if Bitcoin will exist.

[hd49728]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalise in those countries.

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalise.

Poor countries have their issues nationwide that need to be resolved first. Like if they have problems with infrastructures for the Internet, they have to fix it, and Bitcoin can not help Internet infrastructures there. The same with other social, economic, political things in those nations, that are not Bitcoin responsibility and Bitcoin can not help.

After they fix national problems, they can join Bitcoin party as Bitcoin miners like Bhutan or purely investors like El Salvador. They have to change themselves and their nations first, then Bitcoin is accessible for them to boost changes and can be one of contributors to their national economic growth and other improvements.

[DPHOR]

OP's statement sounds very idealistic. Convincing government to legalize Bitcoin as currency or payment method is very difficulty, even when they generally don't take protectionism stance. And since we talk about poor countries, how many people willing to face Bitcoin volatile price and non-free TX fee? https://mempool.space/ currently suggest 2 sat/vB or $0.25 for no priority, while some bank and digital wallet these days offers free transfer under certain condition (e.g. to receiver in same country).

As we know government are the most difficult people to bend about Bitcoin especially that of poor countries which I can assumed to be poorly in their understanding towards the technology, as they have different scope of view about Bitcoin.

To me they still need proper sanitization about Bitcoin and even if they must legalized Bitcoin in that country let it be that they all understand how the volatility works and are able to accept the risk involved in Bitcoin before legalizing Bitcoin in such countries.

And of course you made a good point and if that country is so poor would they be able to accept all that comes from Bitcoin which you already outlined above and, country with poor economy could be hard to accept such from bitcoin except for those who are civilized or that are not based in those countries.

[Minor Miner]

. Bitcoin can help improve on any challenging economy of a country, only if the leaders and the people will all work towards a common goal to acheive what bitcoin has to offer, but most of our leaders may not allow for this.

But how will bitcoin help improve a country's economy? What role will Bitcoin play in a country's economy to impact their economy? Like El-Salvador, they have accepted bitcoin as legal tender and what problem has bitcoin solved for their economy when their problem is crime, lack of jobs...? Does Bitcoin create jobs or help them crack down on crime? If bitcoin can save the El-Salvador economy, why should they accept the deal with the IMF and borrow money from them?

Many individuals, organizations...have been able to improve their economic situation through bitcoin but when it comes to a country's economy, this is a different and much bigger issue. And to improve the country's economy, we need to find out the causes and appropriate solutions. We cannot rely on one highly volatile asset class, and pump or dump at any time, to improve the national economy.

[shield132]

To me I believe that bitcoin and blockchain technology can be of help to poor countries with inadequate infrastructures in numerous ways, if been legalise in those countries.

Bitcoin as a decentralized digital currency can allow peer to peer transations without the need of bank in countries with inadequate infrastructure, just with the use of their mobile devices if been ligalise.

Could you believe that blackchain base microfinance platforms can provide access to credit other financial services to small businesses owners and entrepreneurs in poor countries, if been ligalise.

Bitcoin can make transactions faster and easier and also low cost of remittance in poor countries, if been ligalise.

Bitcoin can be accessible and use through mobile devices in countries with inadequate infrastructures, for payment if been ligalise.

Could you also believe that  bitcoin related projects can make poor countries develop their internet infrastructures, improving connectivity and access to informations, if been ligalise.

At one point, we might think that Bitcoin will help poor countries but I think it wasn't much of a help for El Salvador. Sure, it did a good job but it wasn't something spectacular. Btw on the other hand, to my mind, blockchain technologies have a good chance to help poor countries. For example, in my country we started early adoption and development of blockchain technologies, successfully implemented them in different sectors, and one of the most important adoption was done in land title registry.
The development and adoption of blockchain technologies brought some investors to our country and created an opportunity for local people, to become blockchain developers and get a high-paying jobs.

[Hazink]

OP's statement sounds very idealistic. Convincing government to legalize Bitcoin as currency or payment method is very difficulty, even when they generally don't take protectionism stance. And since we talk about poor countries, how many people willing to face Bitcoin volatile price and non-free TX fee? https://mempool.space/ currently suggest 2 sat/vB or $0.25 for no priority, while some bank and digital wallet these days offers free transfer under certain condition (e.g. to receiver in same country).

And of course you made a good point and if that country is so poor would they be able to accept all that comes from Bitcoin which you already outlined above and, country with poor economy could be hard to accept such from bitcoin except for those who are civilized or that are not based in those countries.

Even for countries that are civilised, we still can’t overlook the point that ABCbits made and the question he asked: Can you choose to use a service for which you need to pay a fee charge of $0.25 for each of the transactions over a service that offers you a free interbank transfer? Among them, which will you prefer to use in a normal sense?

Let us not be biased in our opinion; we all know what the answer is, unless in a case of another form of transaction that involves two bitcoiners and there is more to the transaction than just being used as a payment method.

[AmoreJaz]

This is something we're all familiar with but the question you should ask yourself is that would those in the poor countries be willing to adapt Bitcoin. You mentioned that it can be accessible to countries with inadequate infrastructures and is it not possible that they may be not be able to access electricity and all the other basic amenities.
 In countries that are still developing, it's easier to pitch these sort of idea and have them buy it because they would be initially eager to try out anything that may help boost their economy and create a better living for them but eventually, their interest would move elsewhere due to the fact that Bitcoin is highly volatile and they may not have the resources to keep up.

The interest may be there but let us admit the fact that to sustain the use of this market, they need stable source of income as well. Hence, their interest may not be sustained as they need to find a way how to make a living and provide their basic needs first. So in my opinion, the government should address first the basic necessities of its constituents. Otherwise, they won't patronize this market in the long run.
However, some poor countries already found this market to assist them in finding alternative income. But only for those people who have access with the net and of course electricity. Now, don't expect that a very poor family without access of net and electricity will actually discover and join this market. That's not gonna happen.