Goldman Sachs: Bitcoin can be useful for a troubled economyAccording to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.
Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.
Goldman Sachs experts: crypto-currencies can help the troubled economy
But how will they earn bitcoin? Same logic goes to how they can earn fiat? Fiat or cryptocurrency, there must be a means to earning them. Sure, cryptocurrency could open up new opportunities but I don't think a large percentage could utilize it, especially for third-world countries. It does, however, provide ease in transactions, removing limits and intermediary. It could be, as it said, me another means of payment, but I don't really know if all of these would do better to a slow economy. Given that bitcoin transactions require network connection, and validation is not that fast, it will still be a theory.
Your analysis is very accurate, Bitcoin can easily become a payment method but the government how to manage it when it is too secure about user information, besides this, people of that country really love this method and accept it, even if they have enough money to be able to buy some bitcoin or mine. And another theory, some people's economy is better with bitcoin but whether with a country or even a lot of people, will it really work with all or will it work with very few people?