Post
Topic
Board Economics
Re: Does Bitcoin Help The Poor
by
Rexler
on 21/02/2021, 07:23:56 UTC
#1  BTC provides banking services to the unbanked  Millions around the world who cannot qualify for a bank account use BTC to conduct business and make electronic transactions.
I totally agree with this, bitcoin provides a fast and transparent banking service for millions of people around the globe, apart from helping the u banked to use banking service, bitcoin has money electronic transactions much more easy and safer, no need to wait for 2-4 business days before the money u sent wil get to the destination, with bitcoin in a matter of minutes(high priority tx) it will reflect in their wallet, which is great waiting 2-4 business days is no longer the faster way to transfer money online, just like when phone texting was invented and killed written letters.
Quote
Those who wish to help the poor can donate money to charities or propose government assistance. Bitcoin may yet be another method.
I remembered one time last year when Nigerians were protesting against their government,and the government blocked their fund raising Bank account they switched over and used bitcoin to raise money for food and other stuffs the protesters needed to keep the protest going until their demands are met by the government.