what are the social and economic impacts cryptocurrencies have ?
and how will this affect third world and poor countries because of their limited access to internet and modern technology?
The social and economic impact of Bitcoin and other ALT coins is very large and are gaining in popularity. Bitcoin run's on the SHA-256 algorithm and is considered the Gold Standard of all decentralized crypto currencies as it is the official monetary medium of exchange of the Internet. You can transact with different people from all over the world without the use of banks and middlemen/payment processors as a result the entire financial industry will be negatively affected.
However, the disruption of these legacy financial systems will allow those who previously had no access to conventional banking a way to finally escape the bonds of poverty. Such an opportunity will allow 6 billion new minds to not only join the Internet for the first time but revolutionize and further advance technology.
Basic access to the Internet is now being revolutionized through the advancements of Internet satellite technology, decentralized global file systems like IPFS (Interplanetary file System), and other Internet satellite based technologies that are being pushed towards production by entrepreneurs like Elon Musk, CEO of Tesla.
As a result, Blockchain Technology and all crypto currencies will bring peace and prosperity to humanity the likes of which we've never seen in the entire history of humanity.
Information Reference:
Name: InterPlanetary File System
Website:ipfs.ioAbout: InterPlanetary File System is a protocol designed to create a permanent and decentralized method of storing and sharing files. It is a content-addressable, peer-to-peer hypermedia distribution protocol. Nodes in the IPFS network form a distributed file system
More links of interest:
https://techcrunch.com/2017/01/08/the-future-is-a-decentralized-internet/https://www.theguardian.com/technology/2016/nov/17/elon-musk-satellites-internet-spacex