Home Finance Can Cryptocurrency Really Help The Underserved People?

Can Cryptocurrency Really Help The Underserved People?

by Don Mark
best Cryptocurrency to Invest in 2022

Cryptocurrency has become a trend, but it’s nothing new. Honestly, the trend has stayed longer as compared to the stuff that it can do. Millions of people have been earning great benefits from cryptocurrency, earning millions through the Bitcoin Era, but the main thing is, has it really served the primary purpose? Ranging from convenience to speed and transparency, there have been various promises. 

However, the main question is – has it benefited the people who cannot access basic technologies? Well, let’s check it out in this article! Go to the website to learn more about best crypto trading bot currently available.

Serving The Main Source For Charity Donation

 

When it comes down to cryptocurrency, transparency is one of the most significant features because once the transaction has been processed, it cannot be altered. So, what would be the reason we do not apply it to charity donations as some people still have doubts associated with dishonesty and embezzlement. In particular, various NGOs have started accepting Bitcoin charities and Save the Children was the first-ever NGO to other cryptocurrencies, including Bitcoin, back in the year 2013. 

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The best thing about using crypto-based charity is that it promises an efficient way to donate without undergoing the never-ending paperwork (there is a lot of it when you are donating as a business). In addition, it can ensure that the tax amount is the same as filed in the tax files. In simpler words, it will eliminate the chances of charity-related scandals on the TV without compromising on the support. 

Suitable To Pay Women 

According to the report by CNBC, men are investing in NFTs and cryptocurrency double as compared to women. However, it still makes a significant number of women who are playing a role in the cryptocurrency world. Having said that, there have been various notions regarding how women tend to advance with cryptocurrencies, ranging from more capital for business initiation, convenient access to financial services, and a hidden way of keeping the income safe from the families. 

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It wouldn’t be wrong to say that these factors are general, but some of them implicate inequality in female power when it comes down to personal finances. However, it is usually because women are paid much less as compared to men and often have to skip work because of family. Not to forget, there are various restrictions associated with where women can work – for instance, women cannot work in mines or work as a plumber or an electrician. 

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Having said that, using cryptocurrencies to pay women will solve many problems, and the availability of smart contracts ensure that they get what they are actually earning. However, there is an evident need for filling the pay gaps between the two genders. 

Ability To Replace Traditional Voting

There are various uncertainties and doubts associated with voting, just like donations. In countries where voting has become a public act that has predefined outcomes, cryptocurrency will become an incorruptible form of voting, particularly because it includes blockchain technology. Overall, the process will be extremely simple. 

For instance, when an individual performs the transaction with the help of voting tokens – the transparency will be supported by the inability of altering the network that stores the transactions, and no external parties can influence the entire transactional process. On the other hand, in case the national scale is too wide for consumption, the corporate apps will work for people who don’t have a place and say in the political world. 

Helping Save Lives 

There are some countries where access to the replacement organs has become limited, given the old beliefs and facility storage capacities. For this reason, people have been trading the organs in black markets and doing horrendous things, such as human trafficking, to take out the organs and sell them at higher profits. 

When it comes down to cryptocurrencies, they will be able to allow people to make transactions without any middlemen. It not only saves the purchasers from giving up the assets at an exponential price and ensures that the sellers that the organs they are donating reach the right person. Not to forget, it offers a wide selection where everyone around the globe can check out what they need and create a more protected environment to complete the transactions. 

The Bottom Line 

The cryptocurrency transactions have to be audited where they can easily flow, but if done the right way, it will create amazing benefits for people and give place to democracy.

Source: Glusea

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