How Bitcoin, Bitcoincash and other Cryptocurrencies Can Change The World?

Bitcoin and Bitcoincash are not just only Digital Currency that we can use to make transactions, buy or sell it.

the invention of these cryptocurrencies is an innovation that we believe is as important as the Internet itself. Decentralized digital currency is a concept that has only existed in science fiction until recently with Bitcoin being such a new technology. These cryptocurrencies started from zero to hero. Bitcoin was started from scratch and then became the root of all cryptocurrencies. Until it created more valuable once from itself also known as forking. Every year, Bitcoin and Bitcoincash gaining high values and popularities that can push people to use them everyday. Have your ever imagine that these successful progress can change the way we live? Or can change the world? Here are some ideas how Bitcoin and Bitcoincash change the world.

Banking The Unbanked

Around 1 billion people around the world still do not have access to banking. The reasons range for being excluded for not having the proper documents to living in rural areas or developing countries .But with the rising use of cell phones, all of these people can use Bitcoin for their bank. Bitcoin and Bitcoincash does not require documents identification, proof of residence or many of the other barriers that exclude so many people from securing their finances services (such as coin texts enable the use of crypto currencies, such as Bitcoin cash without internet access or even advanced smartphones) any oldcell phone with SMS capabilities can give financial freedom and security to almost anyone anywhere.

Giving To Charity

Whether assisting in disaster areas or feeding the less fortunate we would all like to see more of our donated money reach the ones in need. Currently many popular platforms such as PayPal, Amazonpay and Crowdrise charge up to a two to six percent transaction fee on top of a cent fee for every donation received. Making smaller contributions impossible or impractical cryptocurrency can remove this barrier by removing fees almost entirely. This opens up the possibility to accept micro donations as low as a few cents and allows more money from every transaction to reach those in need around the world.

International Remittances

Every year hundreds of billions of dollars are sent by working immigrants back to their families. But with all of the regulations involved, the cost of sending cross-border remittances averages around % for large amounts and can be significantly higher for smaller transfers. In alone the aggregate cost for US remittances was around billion dollars. Cryptocurrencies are peer-to-peer meaning, they transfer directly from one individual to another. Removing the need for banks and other intermediaries it's not just cost-effective cryptocurrencies ,have nope closing hours or border restrictions .Making it simple to send money anywhere anytime to anyone nearly for free number.

Removing Inflation

Inflation is the gradual increase in the money supply with fiat currency .The supply can be inflated by simply creating more with the printing. Press printing more of the currency devalues it which is why inflation is also known as the hidden tax the process of inflation is responsible for the US dollar losing percent of its purchasing power. Since the Federal Reserve took control over the supply in while, this process is often slow and difficult to notice it can and does happen at a much faster and noticeable rate.For example, in Venezuela's inflation rate hit an unbelievable thousand percent causing its fiat currency to be worth less than the toilet paper. It can buy with crypto currencies such as Bitcoincash .This is not possible after the initial supply of million coins there can never be any more created .There is no inflation and no hidden tax which will produce a much more stable global economy.

Creating Energy Infastructure

if you are watching video on your phone, or netflix then you are probably fortunate enough to have access to electricity. It may surprise you that approximately billion people on earth do not have reliable access to power. One of the many reasons for this is that energy infrastructure is expensive to build and there needs to be enough demand in an area to pay for the cost. Rural areas in the world may not have enough population for power companies to make a profit. Bitcoin has the potential of changing this by allowing power companies to sell the excess electricity to Bitcoin miners that would have otherwise gone to waste. This could allow energy infrastructure to be built in places that might not have been possible before.

Removing The Middle Man

The primary innovation of Bitcoin and Bitcoincash is removing the middleman from financial transactions. But that ability can be extended to businesses and applications as well there are an endless amount of companies that can take a large fee for connecting users with services. Many of which can be replaced by using cryptocurrencies. Take ride-sharing services like uber or lyft for example . These services connect individuals looking to pay for a ride with individuals who are willing to drive them. For connecting the individuals and facilitating the transaction ,these companies take as much as % of the total fee Bitcoin and blockchain. Have the potential of eliminating middlemen services such as these by allowing the customer to securely pay the driver directly the application itself could even be automated by building a decentralized application. Also referred to as Dap(Decentralized Application using smart contracts in the future. We hope to see the middlemen being squeezed out across so many industries transferring the savings to both the consumers and the providers.

Financial Transfarency

While Bitcoin transactions provide a great degree of privacy, the default transparency of the underlying technology can be useful in certain situations many publicly. Funded organizations could be better off for everyone if their finances were completely transparent and blockchain technology makes this possible. Government's spending public tax money and charitable organizations using donations can be held more accountable to the people that fund them in the future.

Future is unpredictable . Maybe tomorrow, cryptocurrency will dominate the World!