South Africa Technical Recession

in shareyourworld •  last month

South Africa is in a Technical Recession, this affects each and every one of us who live here.

Source

Tighten your belt this is not going to disappear overnight. Time to think out of the box in ways to help, education has never been available to all. Modern technology has opened doors, now help others learn.

The Rand has plummeted in the last couple of days, Bitcoin at time of writing is $6 418 a cost of R101 905 per Bitcoin on conversion approximately UD$1/ZAR15,88, people who know Bitcoin will invest more to secure their income, Bitcoin dropping US$1k overnight in battle between Bull/Bear market will not stop purchases.

Blockchain Fiat Leak

Image above I visited fiatleak.com for 5 minutes around mid-day, 1.7 Bitcoin was purchased!

What is a 'Recession' ... The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP), although the National Bureau of Economic Research (NBER) does not necessarily need to see this occur to call a recession.

Feeding people who ask in passing, helps ease immediate hunger, education insures constructive employment opportunity, feeding families into the future.

Bright young people are realizing the future is in Blockchain Technology, excerpt with link below, saying it the way I see it!

Blockchain is the future, especially for the African continent that has been marred by corruption and unruly, unaccountable leaders. Blockchain is the technology that underpins digital currency and allows digital information to be distributed, but not copied. That means each individual piece of data can only have one owner. The information is constantly reconciled into the database, which is stored in multiple locations and updated instantly. That means the records are public and verifiable.

Since there’s no central location, it is harder to hack because the info exists simultaneously in millions of places. This technology is ideal for African governments to create transparency in, for example, voting and procurement. Source: https://www.howwemadeitinafrica.com/the-journey-so-far-antoinette-prophy-md-88-business-collective/62012/

More is learned by taking action as an individual, share knowledge to others, slowly education will reach many, a way to realize more independence.

Blockchain Technology via mobile phone apps is available, talking about cryptocurrencies often falls on deaf ears, yes everyone fears the unknown, are we any better off in a recession?

Unfortunately many scams appeared, negative reviews/news come to the fore, find the right community to build is required. Invest in your education, if one person shares information, two or more people may benefit.

This is not buying/selling, trading, nor getting rich quick! Preparing toward a blockchain technology the future is now, below are ways to connect with me into platforms where I have found safe haven in learning.

Thanks to @reonlouw contest #shareyourworld

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Here in Venezuela we have several years without growth of P.I.B and the truth is a very serious problem. With the incursion of the Blockchain technology we have been able to.
Upvoted and resteemed @rocaxel Id Kryptonia.

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Blockchain Technology is still in infancy, developing a coin is one thing, having the coin adapted into every day use is another. We who show interest need to think of solutions to use in regions, watching with interest how Venezuela puts Petro into everyday living @rocaxel

Bitcoin and the blockchain is the only way out of this banking mess

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Blockchain technology is what attracted me to investigating, banking concepts are on old technology. It will be interesting to see how this will evolve within the next few years @ianstevenson

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Bitcoin is the only way out.. And it is only for a short i am sure the SA government will work on it pretty fast.....

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Future using new technology to wipe out areas where corruption advanced to state capture would be one step in the right direction @awosode

cryptocurrencies to me seem the right way out of recession
it's obvious. lets watch out

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Employment is desperately required, education into blockchain technology and cryptocurrencies would open new avenues would assist @iambrodalee

I feel this post is incomplete. Because the world is not in recession now. There are some signs which might trigger recession at some point of time in near future.

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South Africa is in a Technical Recession as of 2 days ago @kcherukuri This content refers to my country with problems we are facing currently.

Bitcoin is the main source that we will be pray to win the judgement in the court at on the 15 of this month September

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Indecision via politicians/bankers makes matters worse for people at the moment @bodymaual

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Joan from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

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The current state of our country makes me very sad most days. I completely agree with you on the education point. This is one of the major parts that has suffered under our current government.

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Government has asked the people to think of ways in assisting each other, educating people into new ideas should be a good route to follow @jusipassetti

Upvoted and resteemed this great post, please keep it up and going. From kryptonia @chetachi26

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Thanks for continued support @cryptocheta

Crypto is definitely the way to go and most likely the major markets see the writing on the wall and are trying to stymie crypto currencies efforts for as long as possible to line their coffers as much as possible while silently getting in on the deal. We end up having to tighten our belts while they work it out to their best advantage.

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Agree totally on your analogy @the-witty-waiter

You said it all. I was telling a friend about cryptocurrency, the only conclusion he gave me is that it is a scam. People are still ignorant about this blockchain technology.

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Many scams are evident, people are extremely cautious, personally find it easier to explain as blockchain technology rather than add the word crypto into the explanation @blogjeremiah

This article is great and a good way to pass out vital information to the world especially the Africans nations going through a lot of hell in governance and policy formation. I solemnly agree with you that cryptocurrency is the best way to go, we need to start looking towards it because is far safer compared to fiat currency. Blockchain can bring liberation out poverty with one determination to invest rightly, he would be smiling during times like recession. Thanks for this, i have resteemed asap. @fisherman

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Possibility of moving digital money in Africa would help many migrant workers avoid excessive bank charges. It could open new doors into taxi trade, not having to carry cash and being held at knife point for your fiat cash.

Any possibilities via blockchain technology using contracts could secure business over borders in payments, contract of agreement, purchase of land/registration. Birth/death statistic records keeping, voting the ideas are endless, it is putting this into practice @peterecheng

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Oh wow, you re quite right but sometimes i wonder why we have leaders that re not innovative. Blockchain technology is the best area to cub bad leaders from stealing and giving a good standard in statistics.

Bitcoin and the blockchain is the only way out of this banking mess

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Banking systems have worked well for many years, blockchain technology would assist is reducing fees, make transactions safer and faster it will all depend on how it is implemented, as I see it currently @maryresp

Informative article @joanstewart👍 Thanks for sharing.

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Glad you enjoyed it @mrsbeetroo

It's a big concern for all South Africans! I agree people really need to learn more about cryptos but many are so very anti it due to ignorance!

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Young generation is more adaptive into new ideas (start feeding young minds), unemployment is rife in 18 to 35 year old youth. New technology should open doors if introduced, as always watching out for scammers that are everywhere.

Upvoted and resteemed. Thanks for sharing this great post. from kryptopia id ericet.

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Thanks for positive feedback @fiveguys

I am not sure which crypto currency will be used but I still think gold and silver will be part of the new currencies that will be used in all counties.

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Metals have good value, found this article the other day an interesting read https://blokt.com/news/op-ed-multi-token-connectivity-is-the-next-step-for-global-blockchain-adoption

@joanstewart the problem that I see is that accountability is to be avoided at all costs over here! Blessings!

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Exactly what needs to be curtailed is the lack of accountability going forward, making everyone accountable throughout society @papilloncharity thanks for input.

I Am Agreed On Some Points Like Block chain and Crypto are Future For Many Counties including Countries In Africa

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New technology opens new ideas, young people should be involved to grow a better future @orakzai

This is a very great article and you really did a good job here

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Glad you found it helpful @geesunge

Joan, good luck and success to you and your country!

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Thanks Elena, it is going to be a tough road ahead.

Ugh, recession, again. What more can I say. The weakening of the rand has had quite a negative impact on our industry. Anyhow, it happens and let's hope better leadership going forward will help stabilise our currency a bit more.

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When the going gets tough, the tough get going, let's hope not for too long!

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When the going gets
Tough, the tough get going, let's
Hope not for too long!

                 - joanstewart


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