Can cryptocurrency adoption help to stop poverty in our society?

in #question6 years ago

View the original post on Musing.io

No. In most cryptocurrencies, the bulk of people hold 10 to 20 percent of the total market cap of that crypto and the top 1 - 5 percent of holders hold 80 to 90 percent of the total market cap. This is why crypto won't change poverty. 

Crypto can help people use money or transfer assets easily but it won't make the poor any richer. Poor people could became rich by working in crypto related companies or startups and crypto could make a lot of jobs for the poor. But crypto in itself won't stop poverty itself.

Sort:  

you received an up vote from danlupi with voting power of 69.44%. Estimated dollar amount of $0.82