Very interesting article as many countries have unsteady financial systems. What to think of all the countries with high inflation.
A lot of countries will follow. How do you think about this matter?
I've looked up which countries had a high inflation over 2016 (10%+) and a lot of these countries have a high population and access to internet in general. Crypto adoption will only increasy.
For example: Venezuela alone has a population of approx 32mill.
Here's the chart:
source Statista
When I began to teach in 2012, I decided to start my course with an analysis of how money affects social order. What my students found particularly fascinating was the then-nascent world of cryptocurrencies, which I described at length as a crucial feature in the future of money.
Some colleagues criticized my approach. They accused me of indirectly encouraging students to invest in what they saw as a shady, crime-ridden financial underworld. But I was simply exposing young minds to a fast-evolving, complex phenomenon that in my view would have a major impact on power distribution in the global economy.
Behind most cryptocurrencies is a simple technology known as “blockchain”, a system residing in multiple computers that allows for peer-to-peer financial ledger recording of all transactions occurring in a network.
Read more here: https://qz.com/1021155/bitcoin-is-being-taken-up-in-zimbabwe-nigeria-south-africa-and-venezuela-among-developing-countries/
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://allafrica.com/stories/201707030735.html
The rich in africa belive in their fiscal Cash. It easy to stole without been discovered like in Nigeria issue of blockchain system will be a problem. Financial ledger record of all transactions. (transaction record) is a big problem, everytime record get messing. So blockchain system in our government is a big dream