How cryptocurrency can change the global economy.
Cryptocurrency which is making every banks and government afraid of it (I already told you why in previous story). This time I am going to talk about how not only cryptocurrency but Blockchain is also going to help every one to change global economy. The biggest reason government had ability to manipulate whole country is they have large amount of data of every single citizen of their country like where they spend the most from where they are the most and by directly manipulating the price of same thing they control us it’s like bunch of people how are sitting in higher position in government deciding the price of potatoes because it is what the people mostly buy.
Now when Blockchain is decentralising the data and making any individual to not control or manipulate it government are afraid because it will change the whole world. Cryptocurrency helped the people whole across the world to come together for single Moto which is people welfare by increasing the profits they make. Today there is many new companies running across the world becuase of Blockchain this increased the business activities, after the early adopters became rich from cryptocurrency mainly bitcoin increased the people interest to either start Blockchain startup or invest in cryptocurrency.
Cryptocurrency helped the countries who had poor banking system people don’t have basic banking services which help them to take loans and many more thing which causes them to take loan in unofficial way due to which they have to pay back the loan with ridiculously high amount of interest which causes more chaos but cryptocurrency can help them by providing them loan in fixed amount and they can check the account very efficiently now there are many apps related to cryptocurrency which can help them to connect to world and increase the transaction globally.
It also help to decrease the transaction cost because it doesn’t require office and thousands of employees to take care of it which increases the transparency of transactions as we knows every transaction is automated and decentralised they all are tracked in distributed ledger or public ledger due to which neither any people, government or company can manipulate it it decreases the chances of frauds, corruption and scams. It is helping businesses to connect with more people aur to business whole across the world without taking care of their location and money transfer many companies are helping companies of Africa and other countries who had bad system to connect with European countries and USA to do business in more better way.
