Hi,
today, I've read an article on how Iran want's to pay for imports via crypto. Yes, that Iran that is hit by international sanctions and can't use a lot of the available financial means as we do. So they have been thinking to start mining with the available power resources and use the generated crypto to pay for imports. It is a way to avoid sanctions, that is for sure. I'm not talking about the government there, I'm only talking about the method they have found.
Last week, I've read an article of another country with a poor economy, that will focus on crypto to generate more income. I can't remember which country it was.
We see that a lot of Venezuelans rely on crypto for surviving. After the USA, Venezuela brings the most traffic on Hive, which is a fact. It is a very good mean to bring wealth to their poor place. Politicians have failed the country, which is a fact. In one of the richest countries in the world, people are starving. This is what I call a mental issue of the politicians. The only good thing is that they allow or close an eye to crypto.
Crypto can play a big role in creating and very important, maintaining wealth. From the examples above, we can see that countries that struggle, still have a chance to make something good for their population, by allowing, tolerating and in the best case encouraging crypto.
The smartest thing with crypto is to hold it, at least for 5 years and use it only on need. Put it to work, as today crypto can work for you, like shares, with more control. Don't let it rot on exchanges! That would be the worst thing to do with crypto, after spending. If you start a business with it and create jobs, do it, as it is a total different thing.
Crypto will take a lot of people out of poverty in the next 5 years, from Nigeria to Venezuela, from India to Ukraine, this will be for sure, and it will be noticeable as this people will develop the local area, improving the economy by creating opportunities with their newly made wealth.
How do you see it?