The Overwhelming Magnitude of the Issue: A Bitcoin Cash Internship

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Avatar for ConorWoodward
3 years ago

I launched a Flipstarter campaign a few days ago which can be found here: http://104.131.106.37/ with a goal to raise funds to help the city of Detroit adopt BCH. Detroit is the largest city in America to ever declare bankruptcy and is home to a large population of under-banked and impoverished citizens. Creating videos and doing research about these problems and figuring out ho bitcoin cash can solve it has been a fun adventure so far but it has also made me realize the magnitude of the issue I am facing.

The Problems

2016 chart by zipcode of poverty rate

The income inequality in Detroit is vast even in the metro area. This city hates poor people, and not being poor is harder than you think.

You want to buy a house in Detroit? You will have to use cash or a high interest loan, banks don't lend in Detroit they think its too risky that means you need to be a cash buyer to buy a home and you can't expect a person making 25k a year to have enough cash to buy a livable house. Detroiters are controlled by landlords and a vast majority would be considered slumlords.

Bitcoin Cash can offer financial freedom to Detoiters, I can't find any studies on this but the low income nature of Detroit has attracted a lot of shady business practices. Check cashiers cover every block charging exorbitant fees just to get the money you made. Other predatory lending is all over the place with private lenders giving out loans that will drive you into bankruptcy and rent to own home ownership programs that will cost you and arm and a leg.

Bitcoin Cash can help!

There is basically no ecosystem for bitcoin cash here in Detroit which makes it a opportune place to introduce BCH but also a daunting one. My flipstarter campaign will barley scratch the surface of what needs to happen in Detroit but its a start. We need to build an ecosystem for Bitcoin cash that allows it to cycle like fiat. On boarding a couple merchants won't do anything unless people spend it, giving BCH to the people doesn't do anything unless you get places to accept it and people can't get of the fiat or accumulate more BCH unless they can get paid with BCH. This is the problem it is on all fronts.

If you want to help start this process please go to my flipstarter and contribute any and all size donations are extremely helpful and much appreciated and continue to check back, I'll be here on read.cash posting updates and on my website and youtube channel all links will be bellow.

Donate: http://104.131.106.37/

Website: www.conorjwoodward.com

Youtube:

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Avatar for ConorWoodward
3 years ago

Comments

Nice

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3 years ago

waaooo

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3 years ago