While first world nations are rather resistant to the new change cryptocurrency and blockchain technology offer, developing countries welcome it with open arms. Crypto adoptions make transactions easier, safer cheaper and more accessible. Thus, allowing developing governments to partake in worldwide commerce unlike ever before.
CRYPTO GIVES DEVELOPING COUNTRIES ACCESS TO BANKING
Banking is a first world privilege we don’t often think about. According to the World Bank, there are over two billion people in the world without access to banking services. The main reason for this is poverty but ultimately, what it means is these people are disconnected from a global commerce system that could benefit them. With cryptocurrency now in the mix, users can open up a crypto wallet and use it for banking purposes all from your smartphone. Seeing as smartphones have infiltrated the developing world in ways banking could only dream of, this is a great opportunity for crypto to step in and bring the world together through commerce.
CRYPTO GIVES DEVELOPING COUNTRIES TRANSPARENCY
One of the biggest problems that are holding developing countries back is that of corruption. In these countries, the gap between the rich and the poor is ever growing due to manipulated ledgers and corrupt government officials that let it happen. With blockchain technology, however, every transaction is recorded and can never be deleted. This high level of transparency will make it incredibly hard for behavior like this to continue. Furthermore, it lets normal people make safe transactions.
DEVELOPING COUNTRIES WILL MAKE YOU RICH
2 billion people are a lot to ignore. Too much. For that reason, crypto startups are starting to go after developing countries intensely. What that means for you is crypto adoption. In other words, crypto adoption means a more valuable market. We are at a time where the pieces are being put into place. They are setting up their next move. Prepared? If not, set up your portfolio now.
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