INEQUALITY OF LIVING STANDARDS AROUND THE WORLD AND BITCOIN.

Since the last few days cryptocurrencies, specially bitcoin has caught my attention and interest even though it can be complicated to understand. No, it did not catch my interest because I want to become rich overnight rather it caught my interest because of it’s uniqueness , safe and secure transaction system. There are many places around the world which are in need of monetary help. Sometimes we do see a some organizations collecting money for donation for those places. Some of them can be fake non profits as well and sadly there is no way to verify whether the poor people are actually receiving the donations, as far as I know. This opens up opportunity for thefts and scams. For example in the recent Israel-Palestine issue scammed a huge sum of money by claiming that he is helping palestine. If both that country and palestine had bitcoin, there would have been no need for the middle man and the transaction would have been safe and secure. So by making donation system and more safe through bitcoin, I think more people would be more interested in charity work and thus, it might help to reduce inequality in living standards around the world.

Crypto or bitcoin is not flawless, however I think it has the power to solve many problems of the current financial system. People who are going to straight up deny crypto might end up being loosers in the future but also people who are all for crypto might end up being loosers as they more likely to be driven by emotions rather than logic. Let me know what you think about it.