Post
Topic
Board Economics
Re: Cryptocurrency usage will boost economy or make it worst ?
by
Kevondo
on 25/01/2020, 14:50:45 UTC
What if all those big corporates and businesses starts using crypto as a mode of payment just to avoid tax which will cause a direct loss to the government which uses tax for the betterment of the country. This might not affect corrupt countries as it doesn't matter because tax money goes to politician's coffers but what about developed nations?
It will probably gonna boost the economy of a specific country because we all know that cryptocurrency provides a faster transaction. The faster the transaction the faster the movement of the economy that is why if they accept crypto as a part of their transaction, it will for surely gonna have a huge impact to the economy.
Transaction is just one aspect through which economy can boost via usage off crypto currencies. Apart from moving money faster, crypto currencies are capable of boosting the economy of country because their values keep on increasing and with a little investment, one is able to make great profits. The adoption of crypto currencies will also create new business which is going to help government in reducing unemployment rate.