Sustainable development goals & cryptocurrencies

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When we talk of sustainable development goals we wonder if cryptocurrencies has any application here or in it could help in this aspect well the answer is actually yes as there is proof of it immensely contributing to sustainable development goals especially when it comes to ensuring transparency, yes transparency it's one thing cryptocurrencies offer to sustainable development goals and also help in including everyone in the global finance as well as enabling transactions involving cross-border in a rather seamless, efficient and transparent manner.

Now we have the issues of how cryptocurrencies contribute to this sustainable development growth we also have some of the challenges that arises with this, I will be writing on its contribution today to sustainable development goals.

How cryptocurrencies contribute to sustainable development goals

One of the way cryptocurrencies contribute to sustainable development goals is in the area of making sure everyone is involved in the world's finance, cryptocurrencies made it easier for every form of financial services to immediately accesible to everyone at all levels despite the geographical location thus it helps to bring the part of the population that is underbanked to be involved in the global finance which ensures no one is left out thus it really helps to enhance the economic growth of a country and since everyone is involved, inequality challenges created by the tradtional financial system is solved.

Also another way cryptocurrencies help to improve development in a way it's really sustainable is by ensuring that the common cost of carrying transactions in the traditional system is no longer there, as it completely removes the need for intermidiaries when processing transactions thus making the whole process a whole lot easier and thus in effect reduce transactions cost greatly since there aren't any middle man this makes transactions to be very efficient and affordable to all who want to transact.

It also aligns with some of the most notable SDG's (sustainable development goals) like peace, justice and stronger institutions is being insured which is largely for the fact that the technogy that supports cryptocurrencies is one that takes accountability and anyone could view and track each transaction which is very transparent and thus ensures the development of an institution and with accountability comes trust when there is trust and when everyone feels they are treated fairly and justly it will thus enhance peace in the organization in this way by being transparent and accountable cryptocurrencies helps to enhance a very strong institution and brings about peace and a sense of justice.

Cryptocurrencies are a proven for their transparent nature true ofcourse and due to this transparent nature it also ensure that supply chain transparency is ensured which means that productions and consumption is running in a smooth manner making sure that life is being sustained because when there is no transparency in the supply chain then issues we arrive in production as there won't be record of where the products produced are going to and if they are reaching intended consumers which brings a great challenges but ofcourse with cryptocurrencies there is a sustainable and transparent line of supply which helps in ensuring all forms of life but on land and water is being sustained.

Conclusion

Ofcourse these are some ways cryptocurrencies can really have positive effect on goals, yes sustainable development goals and thats all nice but there arise a challenge which is some of the common challenges experienced by cryptocurrencies which could hinder this or pose a challenge in the creation of this sustainable development goals and it's vital this challenges are known and combated and will discuss this next. Stay tuned.