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Unemployment

The blockchain technology such as that of steem has opened up a golden opportunity for content creators all over the world to earn crypto money on social media out of their content created. The steem-blockchain together with its several other supported platforms under it such as Dlive Dtube Dsound have opened up various job opportunities for musicians, and several other people to make use of their talent and abilities to create good content that is later given value by steem, which accumulates through its technicality termed as upvotes. This problem is being resolved all over the world for example in Nigeria there are now over 2000 content creators on the steem block chain which implies such a huge number of people being employed by Steem-blockchain.

Poverty

This is a state of people that live on less than a dollar a day. There are many poverty stricken people and nations dwelling in the different parts of the world. Blockchain technology is resolving this problem through
• Educating people’s minds with the good valuable business content being created every other day by the various steemians on the steem blockchain.
• The employment of very many people as miners through them becoming content creators on the steem blockchain.

Income inequality

Income inequality refers to the gap between the rich and the poor. This gap is being bridged up in a way that both the rich and the poor are provided with a fairly equal opportunity on the steem-blockchain to participate on the platform that is through content creating and curating. The rich invest in steem power and the poor create content to earn upvotes from the whales on the platform. I view this as a fair system as someone who has just joined with less or no steem power of his own can earn it through working hard by creating valuable content that is worth a reward of an upvote.

Hunger

Despite the existence and the efforts of non-governmental organisations such as World Food Program in combatting the problem of hunger all over the world. Many countries such as the low developed countries are still rampantly facing a grave problem of hunger. Blockchain technology is yet another hope that is now drastically dealing with this problem through the several projects that various steemians are coming up with here on the steem-blockchain. Such projects include @farms that has a mission and a slogan that goes like

Steem will feed the world

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This project is still new and as of now it’s catering for the hungry unprivileged people in Nigeria but will keep growing and spread out to other nations as well.

Backwardness

This is a state of sluggishness and a lag behind in technology and the different economic advancements of the nation. The low developed countries for instance Uganda still has low internet usage of about 31.3% that is according to the current statistics of Uganda Communications Commissions. This is being resolved as people are getting more soaked in Cryptocurrency knowledge being that it requires the use of internet in making transactions hence this adaptation is creating a need for internet every other day.

Under-utilisation of Resources

There is a high level of underutilisation of resources in different nations of the world more so those that are still under developed. This problem is being dealt with by the blockchain technology that is through daily challenging people to improve on their standard of living and make a good use of things like the internet which is a great source of information and online job opportunities such as the one of Steemit.

Inflation

This is the persistent loss in value of the countries’ local and foreign Currencies. This is a major problem that is associated with the current fiat money system just because of the failure of the governments and banks to effectively control money that is in circulation. Since the money is owned by the government and the banks, these tend to error by printing more money without a clear consideration and assessment of how much is already in circulation hence this bringing about a major problem of the persistent decline in the fiat currency value. Block chain technology is resolving such a problem through availing the people with authority over their own money to exercise control over it through
Cryptocurrency.

Corruption

Blockchain technology is designed in a way that it is decentralised hence this helps in eliminating any occurrences of compromise on people’s funds that is through corruption. Transactions are done transparently that is through exposing them publicly for the miners to confirm them through the calculations of the complicated math of the system.
Corruption is such a diverse problem attributed to the fact that Money is a very tempting factor that is when it is entrusted to someone else who is not its owner. Blockchain technology excludes the 3rd party in transactions hence avoiding corruption in the system and contributes to a corrupt free world which we all desire.

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