Post
Topic
Board Economics
Re: Will blockchain technology have a destructive effect on the financial system?
by
samcrypto
on 12/10/2020, 02:22:31 UTC
To leave thousands of people jobless and make the division between rich and poor even greater.

If this happens, it will not be the fault of cryptocurrencies. Cryptocurrencies could hasten the demise of the legacy financial system, but they would not be the cause.
Technology is growing and we can't stop this because every country has to adopt or else they will be left behind, in my country we are slowly adopting and become a cashless society, so I believe it can make many people to become jobless, but there's a lot of option for them to continue working.

Blockchain technology will help many companies to operate smoothly and to transact faster than ever, and if the company see this one as effective then for sure they'll think to lessen the job they are offering and focus more on developing good technologies. Blockchain is a great solution for a poo financial system on many companies, it will not kill the job easily.