Question Of The Week #27: In what ways can blockchain and cryptocurrency help the people of this world?

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Throughout history, human beings have devised a civilized way to acquire what they need, an example was the barter, a way of exchanging products between interested parties, giving and giving, a transaction from person to person, then the coins and bills were born, which are still used today; however the human vision transcends the significant limits of the moment, there is always someone who can think of something better than the previous, and that is wonderful, blessed are all those people who with their intellectual capacities try to contribute something for the benefit of humanity, such is the case of the Cryptocurrency.

The cryptocurrency is digital money, it is not physical money, and it can be accessed at the moment it is needed, by internet, and you can even transfer money to another person, there are many cryptocurrencies, and they all have some aspects in common: they are not insured by the government, there is no figure to question something in particular, if its monetary value goes down nobody assures that it will go up again, they are designed with advanced technology, by an advanced and secure programming, and it is totally virtual.
Anyone could distrust the process that involves all this, however time has corroborated how safe the system is, and already at this distance from the starting point of the first cryptocurrency (the Bitcoin), has become a way out for the world population to use this digital money in the acquisition of products and as an investment to increase their capital, a reality we all live is that we are subject to the changes of the physical currency and this comes to lessen the consequences of this reality.

The blockchain is a chain of blocks, composed of several nodes in the network, where each node is a unique record, agreed and distributed, each node of the network stores an exact copy of the chain, which ensures the availability of information at all times, is a decentralized model where the information is ours, since we do not depend on a company that provides the service, the advantages offered by this technology is unlimited in a sense, and the cryptocurrencies are designed with such technology and this leads to great benefits.

The blockchain increases the transparency and confidence of the interested parties, that is why the cryptocurrencies have obtained excellent reputation, and this innovative technology can be used to optimize the processes in many areas of life, if we know something of programming we can visualize the powerful reach of this computer tool, in short, it is so useful that it can be used to improve any area, from the data storage of any situation or event: as the health, the education, the judicial, the financial, among others, it is a question of seeing the need and studying the implementation of this technology to solve this need.

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The ability to pay any person anywhere in the world immediately with a lot of security and even privacy, is extraordinary, and this can be possible by the cryptocurrencies, there are cryptocurrencies that give you anonymity (most), besides not having any control by government agencies.

Some benefits of cryptocurrencies and the blockchain

💡 All this ecosystem influences a lot in the generation of wealth, because it makes the Internet a way to work, it has always been paid for the activity of another person, for some service, in the case of the blockchain a person could create a non-fungible token, a work of art for example, and there are people willing to pay for this using the cryptocurrencies. Or there may be a company interested in having a streamer use a certain product and finance it with the payment of some crypto-currency, and thus there are many possibilities to improve its economy, work is also key in all this. Another evidence is the blockchain Hive, every time we publish we get a payment to support our effort and work, and we get it through the virtual currency Hive, which contributes to the economic improvement of those who make great publications.

💡 It's going to replace the fixed currency, many times fixed coins are printed without any backing, generating more than what could really exist, creating inflation, instead there are some crypto coins with a deflationary model, Bitcoin for example has a maximum of 21 million coins and no more should be created from there, At that point in time, there will be no more Bitcoins to be mined and it will become a deflationary cryptocurrency, besides that all this is transparent, you can always consult the blockchain, where there are several witnesses, being each of the nodes part of those witnesses; on the other hand, with physical bills or coins, there will always be more, because they will always be printing more, generating more inflation.

💡 The optimization of the processes is evident, any process that requires an algorithm for its realization can be automated, and as we know how powerful the Blockchain technology is, it is almost inevitable that in the future this technology will be used in processes that require a lot of time for its realization or search, improving the life in the planet, it is a matter of time, but the most important thing already exists, the Blockchain.

My home country and the Cryptocurrencies

Sometimes it is painful to see how the Venezuelan economy is weakened every time the dollar increases, we are scourged by this reality, because even though our currency is the Bolivar, it loses more and more value, one way out or hope is the cryptocurrencies that have their own functionality, and their value is maintained much more in comparison with the currency of my country, and it benefits us because it does not depend on any political figure or company in particular, the cryptocurrencies are the same here in Venezuela as in any other point of the planet, and I feel a balance in that sense,besides the fact that the benefits are notable, I can dispose of this money when I need it and make my savings in some of these cryptocurrencies; there are already many companies in Venezuela that accept cryptocurrencies as payment: food stores and sales of articles in general, and sincerely it is a relief to dispose of this benefit, hopefully this will be included in all possible areas, furthermore I pray to God that all the people of my country will manage to know and dispose of this virtual money through their work and effort.

This time the ecotrain community offers us the opportunity to write about of the benefits that blockchain and cryptocurrencies can bring to humanity.

Thank you dear friends for your support, any suggestion or comment will be received with great affection.


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