The investors and stakeholders have high-expectations from Bitcoin and other forms of decentralized cryptocurrencies. It is true that every new technology takes time to develop and make its place in the world. Richard Ainsworth- adjunct instructor at Boston University, states that the time for mass circulation for Bitcoin is coming as he was comparing ARPANET 38 year’s transition into Skype. The new crypto-based economy enthusiasm is found even in developed countries like France.
The French politician Jean Michel Mis is aggressively campaigning for Banque De France (central bank) acquisition of cryptocurrencies. On the other hand, the anti-imperialist government of Venezuela is already hosting Cryptocurrencies in its foreign reserves to safeguard from the devaluation of its local currency bolivar. Such practical examples are sure to reflect positively upon the potential of Blockchain technology in economic reforms.
Can Bitcoin Lift the Slumped Down Economies of the World?
The biggest issue with developing countries is the limited amount of productivity. For the most part, the production goods are dependent on raw materials acquired with importation. Meanwhile, the labor market keeps running in circles on account of being underpaid and overworked by the upper class. The standard of living does not improve, and new money is never circulated in the market.
The entrance of Bitcoin-based compensation structures like merchant applications and Bitcoin ATMs can tip the scale towards better wealth distribution ratios. The harmful effects of fiat money devaluation from international markets are transferred to local markets. Therefore, the probability of small businesses depending on crypto-assets in the future seems like a pragmatic option.
Creation of Crypto Trade Free Zones
The forerunners countries in the crypto-verse are looking at other potential markets with better and greater crypto commercialization markets. Developing countries can cash-on in this bursting demand curve by devising better crypto regulations and crypto-savvy trade-free zones. Several US-based crypto investors are clamping down on the highest-ranked digital currency ventures globally.
Foreign investment is pouring into the countries that can offer businesses facilities like tax benefits and other facilities. It should be noted that the biggest crypto ventures in existence have a market cap of billions of dollars, which is greater than some of the western central banks. Even a small percentage from this chunk is enough to lubricate the stagnant wheels of developing economies. Furthermore, the workforce would be able to invest on a micro level that can positively impact a heavily populated area with a labor class.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
