Post
Topic
Board Economics
Re: Can Bitcoin End World Poverty?
by
ahkiatt
on 16/11/2017, 06:25:20 UTC
If you believe in bitcoin or whichever cryptocurrency that takes over as the leader of this space as a store of value and means of accounting, it will help alleviate some symptoms of poverty.

Without having to store fiat in a bank or other financial intermediaries, one minimises his risk of being "robbed" of his money should our current financial system encounter another crash and these banks collapse.

Another angle you can look at is the accessibility of investment products for the "less wealthy". In most countries, setting up an investment account comes with administrative fees, minimum investment sums that will deter the young adults with limited savings or the poor. Crypto exchanges in this competitive space mostly charge low fees, and participation in token sales/ICOs cost a fraction of traditional IPOs, and offer potentially much higher returns. This provides an attractive avenue for young and less wealthy investors to park their money.

Of course this is an optimistic view of crypto markets, things can go very wrong in the near future.