@ecoTrain QOTW #27 -- In what ways can Blockchain and Cyptocurrency help the people of this world?

For me personally this whole space holds a lot of value. I never imagined something like this ever popping up. Though it all began way back in 2009, I had no clue of it and it all got introduced to me somewhere in 2014. Since then it has grown over me.
One thing very prominently I have experienced in this space is experiencing Freedom,
and I believe this is the voice of many who are in this space.


Clearly I can identify some benefits of the world of Blockchain and Cryptocurrency.

Financial Independance

On this platform in the past 3 years itself I have seen so many people build up their lives around Crypto, have their daily needs be met without any dependency on others.
The world of Crypto will surely help people become financially independent. I also have experiences this myself, when I was jobless, I started with Hive (Steem) and started building my financial base on it. In the times when most of the people are losing jobs, the blockchain technology is one mode where one can turn to and have their income generated from it.
Cryptocurrency at this stage has lot of volatility so one needs to be careful while trying to make money out of it, but in general the investment has given very good returns. If one is patient and has a long term vision, definitely can make fortunes from here.

People who are already into Cryptos at this point of time, for them it is going to be a game changer in the next few years for sure. It is going to lead to good fortunes and we may see a complete new list probably on the Forbes list.

No Authority Controlling your Finances

In the recent times, banking system is one of the most scariest system to put your money in, but many people think, if not banks then where is it that they can store their money in? Crypto has been an answer for many on this. More and more people are shifting their part investments into Crypto. Yes if you keep playing around, even this is going to be unsafe. So while it is one of the lucrative options one needs to exercise complete caution.

It is giving one a complete control over their finances with no authority overlooking. Your money is in your control. Even if you lose it is your own actions and not because of some one else. Investing in Cryptos is giving one a complete control over their finances.

This is one thing that is bothering the governments the most, the lose of control over people's finances and hence the main reason to not encourage Cryptocurrency and coming up with measures to curb the use by enforcing some rigid laws. They fear that if this spreads, people will be in more control of their money then the governments. The Taxation will be impacted. While from the consumer standpoint, we are going to be in complete benefit.


No 3rd Party Intervention

This is one major help to people. Today if I want to transfer money to someone in another country, it is a big hassle for me. I remember 2 years back when we were planning for our Iran holiday and the tour operator asked for payment in dollars via a bank transfer. When we initiated the transfer, it got rejected by the bank in U.S. and the reason was because it was Iran where U.S. has major differences.

Similarly if I want to send or receive money even from individuals in another country it becomes cumbersome with the bank processes to go through the transactions, where as in Crypto it is just so easy. This is going to help people promote their local businesses also in other parts of the world. It will become easy for them to make and receive payments.

Crypto's will surely give an easy access of one's own finances. As more and more people start adapting to it, we will not have a need to go through these 3rd parties for transactions. It would be much easier and simpler to deal with our own money.

These are some very clear benefits of the world adapting Cryptos and Blockchain technology, but again yes it has it's own risk so one needs to be very careful while doing these transactions. But in general I see that as this space matures there is going to be lot of benefits for common people.

Thank you for visiting my blog. πŸ‘ΌπŸ»πŸ‘ΌπŸ»πŸ’–πŸ’–πŸŒΉπŸŒΊπŸŒΈ


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