Bitcoin to End Poverty Cycle
As Bitcoin gains global recognition as an international asset, its value has been helping thousands to break away from the poverty cycle.
Global inequality remains an issue at large having an astounding 70 percent of the world's population with less than $10,000 in wealth while the Top 10 Billionaires in the world holds more wealth than countries such as Nigeria, Iran, Norway and Austria. (Global Inequality, 2017)
A much trivial task of mining bitcoin may earn you less than a dollar a day might be worth a months' salary for countries facing extreme income inequality. Blockchain technology in the long run, has created new opportunities for the tech-savvy generation to rise above the poverty line. This move could also help to re-balance global wealth distribution by returning wealth held on by the older and less tech-savvy generation.
"I used to want to buy medical equipment online but it was becoming hard. Transacting online is very expensive in Uganda with all the fees," said Moses Semulya, a doctor at a Kampala hospital. "Bitcoin is changing that, making things easier and faster."
Aljazeera
Traditional large organizations, banks, governmental bodies have withheld much of their wealth as "reserves" which were meant to restrict access to many individuals struggling to make a living and getting deprived of shelter, food, healthcare and other basic needs. While the fluctuations in Bitcoin prices have created uncertainty in this early phase, the opportunities that Bitcoin provide is likely to explode in the years to come. This would mean an economy of new jobs, businesses, communities solely based on a decentralized and government-free platform.
Imagine being born into a world with fairer opportunities.
-tysler
For future viewers: price of bitcoin at the moment of posting is 8539.00USD
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