How Cryptocurrencies empower us to help others
At first, I would describe charity as love but that is to ambiguous because love in the English language has many meanings. From a theological sense charity means “to love God and man” and the term ‘man’ encompasses Love of self and Love of neighbor (Sollier). Today I will be delving specifically into the aspect of Love of neighbor. We love ourselves enough with Lambos ;-). Within the cryptocurrency community, money is the name of the game and we are rolling in it. Our movement was founded off the Non-Aggression Principle so our ability to step up and support those in need defines how our new vision for human interaction.
The benefits of cryptocurrencies is that they are censorship resistant. Cryptocurrencies accomplish this through addresses (kind of like email addresses) that are not associated with any real world identity so a person cannot be specifically targeted. The ramifications of allowing anyone to send money to anyone else in the world means government embargos and crossboarder tarrifs become useless. All I have to do to send money to a charity to a country in Africa is send a cryptocurrency to the corresponding address. Another way cryptocurrencies are censorship resistant is by solving the Byzantine General’s problem
(problem of not being able to trust anyone on the network) by running copies of Bitcoin (full nodes) to form a consensus. These full nodes use a mathematical algorithm (proof of work) that is hard to find but easy to verify, known as a hash, by all nodes for building blocks of transactions to add to the digital ledger. If a malicious actor wishes to participate then it would need to spend a significant amount of computation power, energy and time to send out a false set of transactions. As of right now, there are 25,000,000 TH/s (tera hash per second). Bad actors attacking the cryptocurrency system no longer have the means to take it over because there simply are not enough resources in the world.
Wow. Think about that for a second… A digital money solution where if you live in the USA and want to send money back to your family in Mexico then you will not have to pay a tariff wall, or any other ridiculous reason governments put up to stop you from freely exchanging with others. Now you can send directly to people who you want to deal with without getting an annoying middle man in the way. Now you can give money to any charity around the world almost instantaneously. People can give to those in need very quickly and here are a few examples:
I will highlight the work of Danny Sessom who participates with Unsung.org and Dashcares.com in my upcoming podcast. Stay tuned for the podcast later today as I talk to Danny.
Citations:
Sollier, Joseph. "Love (Theological Virtue)." The Catholic Encyclopedia. Vol. 9. New York: Robert Appleton Company, 1910. 9 May 2018 http://www.newadvent.org/cathen/09397a.htm
Written with Love by Jake Bryan
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Nice read man, good stuff
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