We have been told that the whole of humanity cannot possibly have access to the "privileges" of people located in specific parts of the world. This has to change.
When the true value of cryptocurrencies become apparent to even the most average, an upheaval will likely arise. Having the ability to create local currencies based on actual fairness, where an economic infrastructure is corrupt or non-existant will be one of the many hot potatoes crypto will introduce to the world.
Currently we have several billion people unbanked.. yes, billion. About 2 billion people are unbanked and as a consequence of not having good identity infrastructure and financial infrastructure, they don’t have the ability to climb out of poverty without a considerable amount of assistance. I cannot even comprehend how many people that is.
Charles Hoskinson, the founder of IOHK and co-founder of Ethereum and Cardano has stated that cryptocurrencies is not just about creating a system that will battle against the USD, EURO or even kill all the banks.
These are interesting and intriguing academic concepts along with competition and monetary policies. The reality is that whether one likes or dislikes the system, the Western world has a lot of people living in very bad systems. This should be one of the main pillars to change through the use of blockchain.
IOHK and Africa:
https://ambcrypto.com/iohk-vision-business-mantra-transform-africa-cardano-ada-founder/
Will crypto actually do any difference for poverty? Would love to read your opinion.
I hope you liked my article. Stay safe and have a curious day.