The biggest challenge facing global economy

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Well we live in a time where the economy of the world is at a great inequality among different countries of the world, I mean things would never ever be balanced, the world is experiencing the kind of inequality one never experienced before infact it would seem that even with the the passage of time instead of this inequality to be resolved it keeps widening thus widening the economic gap among regions of the world which creates a great deal of destabilization.

Must of the challenge facing humanity today from social unrest to any economy not being able to have any tangible development or lag behind in the large frame of f things is largely due to economic inequality as it seems things can never be equal, if only it could be then all countries of the world would have substantial measure of prosperity in their economy but ofcourse opportunities given to regions are always not shared in a fair scale.

Well it's not surprising to see a great deal of people for this reason run to cryptocurrency to try and level the playing field as cryptocurrency it's becoming something that tries to ensure every thing remains equal as it present same opportunity with the technology blockchain offering transparent and equal potential for all.

To that effect I will like to discuss atleast some factors that poses big challenge to the global economy.

What contribute to inequality in the global economy

Well I was talking about inequality and this is especially so in the world's economy today, there is a huge inequality in income and this inequalities I speak of goes well beyond that between a country and another it also it's present amongst individuals within a country, as we have those who benefits majorly when things are going well whilst others are supposed to make do with scrapes.

In every economy there is always those who tends to get the lion share and the high income earners and this is really bad for the economy as it leads to centralization of wealth that's why a country may have alot of billionaires yet the number of poor suffering masses would be in the millions ifnot billions, so this is experienced amongst many countries of the world and most times those who earn very little end up being marginalized and in situations where they can't even gain access to chance to level up, this disadvantage is what many individuals face as well as some countries also.

This is exactly where cryptocurrency comes in since Bitcoin is decentralized is doesn't operate the same way as the money we used today is which is controlled by central entity and hence shared among the 1% thereby creating inequality in the economy which thus poses great fiasco in the global economy.

Also another challenge that led to challenge in the global economy is how wealth is distributed, ofcourse is not something new from the beginning of time it's always been this way I guess to the fact it's now accepted as a norm, which is assets and resources can never be distributed equally among households as some the very select few would get 99% of the resources while the vast majority shares or scramble for the 1%.

And this is really bad as is not just wealth also the basic necessities of life like things like education and healthcare in most countries some do not have access to it infact it's in a way only the rich can quickly gain access to this readily while the poor are being cut off having to struggle more to enjoy what is their basic right as the citizen of the country.

I mean if only there is a world were back ground and other things do not matter where wealth and economic resources are being distributed evenly in a truly decentralized manner, well no need to look any further blockchain has the answer to that, it could ensure that the biggest challenge facing global economy is solved and create a balance of the inequality created from the beginning of time, I mean if anything could ever ensure there is no disparity in wealth is blockchain no wonder many are fighting against it since they have no control over it, infact cryptocurrency is the last hope for the poor.

Also due to the fact some countries seem to be developing rapidly since the are quite close to lots of technology and access to these technologies places them at a great advantage as they are properly placed to have more rapid growth and industrialization becomes quiet easy for them and this places them quiet ahead of other countries who suffer greatly to advance as they are not in possession of this infrastructures they thus lag seriously behind in industrialization some countries when compared to others are like third world country which really shows the amount of inequality present in the global economy.

I mean there could be a way where other countries are made to atleast have access to this things, so they could level up and their citizens could enjoy the benefits of well industrialized economy but ofcourse sometimes too political instability in places makes this difficult.

Now because when it comes to access to technology and other digital amenities most countries do not have this they thus lag behind and this further leads to increase in the economic inequality already present, a world which is going digital and yet most are still left behind due to very limited modern amenities and as a result of this they suffer, the available technology is not really enjoyed equally by everyone as some goes to great lengths to amass it all for themselves even more than what they need and this creates a harsh economic reality for others who become rather cut off.

Some countries once a technology comes up they quickly move in and secure it for themselves, well good thing we finally have a technology that no one can control or own all alone, Blockchain technology which has different application in many things today, both education sector, politics and voting system, hospitals and in supply chain has come in intent on leveling things as is accessible to all, every country of the world could utilse it to great effect like El Salvador today who are utilizing the full benefits of Bitcoin and it's technology blockchain in a bid to stabilize their failing economy and positive results are being seen.

So yes blockchain could help bridge the gap and even solve the challenge of inequalities facing global economy, if there is anything worth fighting for is a world revolutionized by blockchain, Blockchain is our only hope indeed and has shown true potential to do this.

Conclusion

Today I have shown some of the area world economies are facing challenges which is unmistakeably true but I also believe cryptocurrency could help solve this problems which I touched on and will elaborate more on in my subsequent article, so I hope y'all enjoy reading.