Bitcoin, not blockchain

Bitcoin vs. Global Poverty


Venezuela, Zimbabwe and El Salvador


Christine Szakonyi

October 6
, 2021


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Bitcoin vs. Global Poverty:
The future of cryptocurrencies is bright, a future in which we all have the potential to be winners. This book is a reworked form of a master thesis from 2020.

  • This book will be analyzing developing countries, with a specific focus on the Petro, a state measured project, and decentralized cryptocurrency usage in Zimbabwe, to bring to light how cryptocurrencies will reshape the future of payments in developing countries furthermore El Salvador’s actual situation.

Individuals are not the only ones who could gain from the increased cryptocurrency use.

  • Governments, banks, and companies will be also able to conduct their everyday business more efficiently because the data will be registered in the blockchain and it will ensure that information is trackable and identifiable.
  • Many sensitive issues could be solved with the help of blockchain technology, including shrinking corruption, greater independence, and increasing transparency. Some of the drawbacks of cryptocurrency, which serve as barriers, such as lack of public awareness, trust issues, environmental pollution, and anti-money laundering directives (AML), are addressed in this book.
  • Developing countries are the perfect place for cryptocurrency adaptations due to the financial protection it brings; however, these countries also suffer other real-world problems like hunger, education, and censure; hence, the cryptocurrency integration proves challenging because of the many barriers, even on the basic of things, such as education, affordable internet availability, and proper real-life adaptation.
  • Many people in developing countries are unbanked and restricted by their national fiat currencies. People in such circumstances have limited possibilities to protect against inflation, which has become a fundamental issue in countries such as Venezuela, where the Bolivar was inflated by approximately 200.000%.
  • Zimbabwe, where the Zimbabwean dollar was inflated by around 500% within few months in 2019.