Could cryptocurrency help global economic development?

[Chumzy]

I don't think that crypto currencies will do so much to help world economy. Government of world earn so much from Fiat currency printed, they control the economy and dictate what happens.
Crypto takes a lot of power from them, and gives to the people.

 

[Nicklas22]

Cryptocurrencies have the potential to enable social and economic growth throughout the world, including in developing countries, by offering easier access to capital and financial services.

 

[BrolySSJ]

One thing that slows down economic growth is widespread unemployment but today so many are meaningfully engaged and and countries are generating money with this trading venture.

Yes, the recent pandemic has left many without employment and even those that previously also were not employed have now turned to online methods by which they can earn and in doing so crypto is generally the preferred choice with how easy it is to get into and also with how many educational courses and videos there are out there that you can learn about as well. This has quite significantly addressed many unemployment concerns.

 

[Heatman]

I definitely agree with you in terms of helping countries financially, and i think that this is a very important thing especially in this day and age because there is an increasing number of countries that are facing financial struggle due to the global pandemic of the corona virus. Perhaps crypto can be a way in which countries are bale to get back on their feet and try to reestablish their footing in the financial sector.

Exactly. Although some countries can be so ignorant when it comes to embracing change. I could remember some years ago when Nigeria government was even trying to discourage its citizens from investing in cryptocurrency by labeling it as scam.

 

[archahmad]

well, l think the advent of blockchain can help a given country boost its economy especially when people with vast knowledge of how its operate are being employed to handle it. On the other side, due to market uncertainty associated with the blockchain if care not taken it can take a country to economic recession

 

[BrolySSJ]

Exactly. Although some countries can be so ignorant when it comes to embracing change. I could remember some years ago when Nigeria government was even trying to discourage its citizens from investing in cryptocurrency by labeling it as scam.

I think many countries are actually trying to do that in terms of labeling something as a scam. TO a certain extent I think it has to do with regulations and control. Especially in a currency that the government cannot control, it makes it even harder to be able to accept it willingly, because first of all it can be used for activities that the government does not support and secondly they do not benefit from it like they do with fiat currency transactions. This is just my opinion.

 

[Highflyer]

So, it's safe to say that cryptocurrency propels economic growth throughout the world by providing much easier access to capital and financial services, especially in developing countries. ... That's why today, people are most likely still using cryptocurrency to earn some profits on their fiat money rather than conventional exchange.

 

[Josemendez]

To me , I believe that Cryptocurrency can help the world economy ,because by offering a source of investment for people , the rate of poverty in countries is reduced ,and thus the economy of both countries and the world is improved thus.
Cryptocurrency is the future of investment.

 

[Suba]

As a result of US economic sanctions, Venezuela and Iran use Bitcoin to transact with several countries.
Even though cryptocurrency has been so popular and widely adopted by institutions, the amount in circulation that is ready to be used as a transaction or trading tool is less than 5 million Bitcoins, because more than 13 million Bitcoins are stored by whales and institutions. so if all countries in the world use Bitcoin as a trading transaction tool, I think, it is not sufficient.

 

[Keibah]

Yes I agree with your thinking. However, the resistance of various world economies to adopt this means of commerce is a hindrance. Unless strict laws are loosened, it is only going to be of great benefits on an individual level and not a collective one.

 

[Erik4150]

Cryptocurrency will surely help global economic development by offering easier access to capital and financial services.
With cryptocurrency people can send and receive money without the need for intermediary banking institution.

 

[BrolySSJ]

To me , I believe that Cryptocurrency can help the world economy ,because by offering a source of investment for people , the rate of poverty in countries is reduced ,and thus the economy of both countries and the world is improved thus.
Cryptocurrency is the future of investment.

To be honest, I have been thinking about this point, and whilst I also to a large extent thought the same thing, a new thought has just occurred to me. It may help poverty is some cases, but crypto is designed in such a way that the profit made by one is the loss made by another, so it could go either way. The poverty could be helped or worsened with crypto is not managed well. Do you agree with me on that?

 

[GIFTMICHAEL]

Yes, the recent pandemic has left many without employment and even those that previously also were not employed have now turned to online methods by which they can earn and in doing so crypto is generally the preferred choice with how easy it is to get into and also with how many educational courses and videos there are out there that you can learn about as well. This has quite significantly addressed many unemployment concerns.

It has also helped my life i mean online job per say.
Soon many will found online job or investment to be the best compared to their current jobs.

When we get the right investment site and the best training that will help us to do better online job becomes even more attractive.

 

[Nurudeen]

With the current inflation all over the underdeveloped countries Ina Africa and Asia, if there government can embrace crypto currency as a means of exchange it will be possible to bypass the hoarding of dollar currency which is making dollar currency to soar higher ahead of local currency.

 

[BrolySSJ]

It has also helped my life i mean online job per say.
Soon many will found online job or investment to be the best compared to their current jobs.

When we get the right investment site and the best training that will help us to do better online job becomes even more attractive.

Yes this is true. It is good to see that you have taken the time to train yourself to obtain maximum benefit from the online jobs that you are able to do. There are many that unfortunately feel that crypto is easy and requires no training and as such think that it is a way to get rich very quickly with the online jobs.

 

[Farhan Aslam]

Cryptocurrency has become very popular in the recent years and this is evident in the number of users that there are, as well as the value of the coins. However if there is global adoption of crypto do you believe that this could lead to global development in the economic relationships between countries? In my opinion, crypto allows countries to trade between each other and transact easily with minimal time between transactions and at a relatively low cost. This is very important in developing he relationships between countries. As such the countries will be able to transact more and hone these relationships. Do you agree with my thinking?

You are right, the corrupt currency has become very important over the years. Some countries are accepting it in their parliaments.If this happens then it will be a source of income for any country. Personally I am a big fan of cryptocurrency.

 

[BrolySSJ]

You are right, the corrupt currency has become very important over the years. Some countries are accepting it in their parliaments.If this happens then it will be a source of income for any country. Personally I am a big fan of cryptocurrency.

Wow it is great to hear that some parliaments are even accepting the currency because this shows acceptance at a high level, which will be a promotional factor in crypto for the rest of the country a swell. Also I think that countries like this set the tone for other countries to follow in their footsteps as well. Which are the countries that you know off that are using crypto at a parliament level?

 

[Ridorz]

Yes, cryptocorrency is helping nation economy because there is many youths that are doing trading through cryptocorrency and most of them did not know how to how to do or how to start busines before but cryptocorrency give them opportunity to be trading.

 

[BrolySSJ]

Yes, cryptocorrency is helping nation economy because there is many youths that are doing trading through cryptocorrency and most of them did not know how to how to do or how to start busines before but cryptocorrency give them opportunity to be trading.

Yes this is true, and what is great when it comes to learning to trade and the various youth as well, is that you are able to a large extent to practice your trading skills before investing your own capital. There are many exchanges that actually have option to make use of a demo account as a means in which you can trade and learn skills that will help you in your actual capital trading.

 

[Lagazine]

Yeah. Cryptocurrency currency is already helping the global economy to grow. I said this because of the role crypto exchange played during the first lockdown when no one have access to bank for any business transactions but a lots of transactions were made on bitcoin and Etherium, to cover for the fiat and Bank transactions. If that was done in such a way during that period, I believe its already helping the economy.