Post
Topic
Board Economics
Re: Bitcoin the answer to developing countries currency issues
by
Juggy777
on 22/09/2018, 12:59:27 UTC
Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
 If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices

Indeed adopting Bitcoins shall do wonders for their economies, as it'll give them a strong currency that'll appreciate in the long run. Also if they start mining it, they'll be able to sell it for fiat which shall strengthen their economy. If they start to do local transactions they'll save money on printing new currency, and this currency shall keep on appreciating which will lead to more revenues for them. New jobs can be created to cater to this new industry, hence I feel bitcoins can be a magical solution for the growing countries.