Post
Topic
Board Economics
Re: Can bitcoin have a positive effect towards a country facing recession
by
Hydrogen
on 10/11/2022, 23:49:23 UTC
My region has been deep into economic instability and facing economic crisis in various aspects and I want to know if there is any way bitcoin or crypto currency can help resolve the problems and revive the economy? I know that  bitcoin  didn't  come to the world  to take over fiat currency but is there anyway bitcoin  can resolve it?


Regions like venezuela were able to mine bitcoins using free electricity generated by hydroelectric dams.

Areas of africa which have a high level of infrastructure support for cellphone based payments were able to utilize bitcoin and crypto as alternate methods of payment.

Countries like cuba once enjoyed bitcoin as a means of sending payments home to families in the country.

Nations like vanuatu have offered tax free citizenship for crypto whales who can afford the high cost of expense.

The claimed 4 billion unbanked demographic around the world have been said to be one key reason behind bitcoin's global mass adoption.

There are historical road maps for how bitcoin has helped various places around the world to boost their local economies. Perhaps your region can follow a pre established trend. It all depends on local circumstances.