Cryptocurrencies and Blockchain – Key to Improved Life
Why Bitcoin is Pro-People
We as human beings are accustomed to the notion that most of the things in life are usually against us. There is a never-ending tussle between the governmental organization and general population. The harshest are usually the financial sectors, that seem to be in a constantly volatile state. Even if we look at the situation from today’s standpoint, humanity is facing another crisis. Economy is hurting and simultaneously, the population’s money is being inflated at a daily rate. People are incredibly dependent on standardized financial institutions and sometimes this dependency is something that proves to be catastrophic. The only entity that strives to disrupt this way of life in today’s world are the cryptocurrencies which could potentially be completely independent from external factors. Even though the likes of Bitcoin are not immune to volatility themselves, with proper “care”, crypto solutions can become the key to a more stable, efficient and secure future.
If we look at the superficial characteristics of cryptocurrencies and the factors that can be observed by the novice users, straight away several significant advantages start to surface. It’s much cheaper to operate with crypto. Banks and other financial corporations charge considerable fares for all transactions, especially international transfers. This is a serious setback which for example; Bitcoin and Ethereum are completely free of. Aside from that, cryptocurrencies are faster and more efficient. What banks do in days, Bitcoin for example – can do in a matter of minutes and hours at the worst-case scenario.
When dealing with cryptocurrencies, the factor of ID security and safety is ultimately covered. It’s a fact that blockchain technology provides a significantly improved privacy and security capabilities compared to standard financial solutions. Blockchain is famous for being virtually impossible to hack, while at the same time providing total anonymity of the clientele.
Significant promotion of Social Good
Blockchain startups that operate completely around cryptocurrencies are well-established to be promoting social good. There are tons of newcomer companies that do their utmost to get people accustomed to the wonders of blockchain technology and in the process, amazing companies are being born. These companies get established in all of the industries affecting our daily lives. There are blockchain startups in the field of medicine, with companies such as CoverUs, which entitles people to cheaper healthcare and a total ownership over their personal medical history. The world has witnessed startups in the agricultural fields, with companies such as; GrainChain. They offer the simple scheme for distribution of goods, elimination of middlemen corporations like banks, significantly lower costs, systemized approach and a total ownership for the farmers. Also, there are startups that directly affect the social processes like; OS City. It was designed to put all the power in the hands of the population by directly controlling the transparency of elections and propriety of operation within the government. This increases citizen participation, government response and overall efficiency of everyday life. These are just a small fraction of incredible examples that definitely cause social improvements.
Business Made Easier for Ordinary People
Aside from health and personal satisfaction, the most persistent issue of the population is usually of financial nature. This is probably where blockchain technologies shine the most, thanks to DLT (Distributed Ledger) and supply chain technologies. Through these revolutionary features, participants can easily track each step of their business process. Processes from manufacturing to logistics and all the way through final products and services, can be easily observed and controlled. Huge amount of information is merged into one enormous database that serves any needs of potential business owners and employees. Aside from that, smart contract technology and faster transactions can increase both employee and customer satisfaction. One of such companies is AMAZON Aws, a truly inspiring global business database that completely eradicates any need for middlemen companies.
Potentially Better Future
Cryptocurrencies, in ideology, were created by the people, for the people. Considering their decentralized and independent nature, virtual money can become the tool that potentially can set people free from the glooming control and greed of third party corporations. All it takes is a little trust, healthy judgement and strong enthusiasm to truly transform the world into a better place.
Contributed by George Khmelevski