How Cryptocurrency will Rule the world
Cryptocurrency can be one of the most effective ways the world has ever seen to increase economic freedom. If this happens, the consequences are profound. It could lift many countries out of poverty, improve the lives of millions of people, and boost the velocity of revolution in the world.
About a month ago I decided to dive in and learn more about cryptocurrency since my investing in it was doing well. So here I am sharing the knowledge that I have got.
In this article, I'll attempt to explain what economic freedom is, why it is important and how cryptocurrency can change it.
What is Economic Freedom?
Economic freedom is the measure of how easy it is for the members of a society to take part in economic activities. It has various factors e.g:
How easy it is to start a Business?
Whether property rights are enforced? (can you keep what belongs to you)
Stability of the Currency.
Free trade with other nations.
Regulation of Business and Labour.
There are several organizations that rank and score the countries of the world by how economically free they are. The data shown below is published by the Heritage Foundation and Wall Street Journal. Here are the top and bottom ranking countries from their 2016 list.
By looking at the names in the list given above, you can start to guess why economic freedom is important. Below is a picture that explains this concept Alternatively.
Why is economic freedom important?
Economic freedom has a direct relation with the number of positive outcomes in society.
Some you might expect, like higher per-capita income, life expectancy, and literacy. But economic freedom also correlates with some things you may not expect, like:
Better income for the poorest 10%
Improved environmental protection
Fewer wars and violent conflicts
Higher self-reported happiness of citizens
Less corruption and bribery
Below is a chart that explains economic freedom more comprehensively. The red bars show the countries with low economic freedom and the green bars are the ones with high economic freedom.
Correlation, of course, does not prove causation, so we must be careful not to jump to too many conclusions. Societies are very complex, and what works in one place may not necessarily work in another. Still, it raises an important question: **if the world had more economic freedom would we all be better off?**
Impact of digital currency on economic freedom
Economic policy and financial infrastructure can take a long time to change. Some might say they have been frozen in time for the last forty years or more.
Now for the first time, with the proliferation of smartphones and the creation of cryptocurrency, we can have the opportunity to increase the economic freedom of every country around the world in a much more efficient way.
This is how digital currency enables economic freedom:
**It makes it easier to start a business**
Anyone with an idea can have customers around the world in just a few hours. It reduces the friction of accepting payments and helps companies expand globally.
**It enforces property rights**
Many people today are unable to safely store wealth without it being stolen or confiscated. Digital currency will allow anyone to be in control of their own money (see **brain wallets**). In this sense, the digital currency will “bank” the unbanked of the world. https://en.bitcoin.it/wiki/Brainwallet
**It promotes free trade and globalization**
Digital currency excels at cross-border transfers. It breaks down barriers for people in different countries to trade with each other (for example to get a loan or hire someone to complete a job).
**It enables freedom of contract**
With Ethereum smart contracts, the hurdle has been lowered for people to enter agreements, regardless of where they live or whether they can afford a lawyer.
**It encourages people to leave low scoring countries**
People will find it easier to emigrate if they can take their wealth with them and use it in a neighboring country. Digital currency makes every country’s economy interoperable. With lower switching costs, countries will improve.
**It reduces corruption and bribery**
With fewer gatekeepers and intermediaries to start a business, there won’t be as many places to apply pressure or curry favor.
**It provides access to a stable currency**
Digital currencies are more volatile than the dollar or euro today, but their volatility has decreased every year (and are now approaching the levels of some fiat currencies). In the coming years, the digital currency will be more stable than many of the 180+ fiat currencies in the world.
Today, Digital currency is still in the early stages. But as with many technologies, when it tips the result can be dramatic.
Conclusion
Over the past 20 years, the global average economic freedom has gone up by only 3 points (from 57% to about 60%). Things are moving in the right direction, but far too slowly. The need of the hour is that we should promote Cryptocurrency as far as possible.
END
Image Source:
1.https://miro.medium.com/max/2400/1*VGW3GT91-BFBazWjAahP-g.png
2.https://miro.medium.com/max/700/1*SyEueAESCvGe47w8mmo14g.png
3.https://en.wikipedia.org/wiki/Economic_Freedom_of_the_World
4.https://miro.medium.com/max/2400/1*YtuTV68c1eZX-Btz6XoA-w.jpeg
5.https://www.google.com/url?sa=i&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DwR0N9EYR3Oc&psig=AOvVaw1ikGbXtTegw5ltpBjjOfdb&ust=1620403079499000&source=images&cd=vfe&ved=0CAIQjRxqFwoTCLCAjYXltvACFQAAAAAdAAAAABAD
The Lion of the Lord
He was a Lion in the battlefield. It was he who fought single handedly with famous and the most feared warriors of Arabia. Records of Arabian battles carry with them chronicles of his bravery, courage and chivalry. Even the enemies sang songs of his valour and gallantry. He was Ali (A.S) Ibn Abi Talib , It was he who alone broke through evil combinations and carried the Muslims and Islam to a position of safety, eminence and power.
Hazrat Ali (A.S) who was born on March 17, 599 AD in the Holy Kaba ,was one of the first people who embraced Islam. He is the one who was given the Title of "Asadullah" means "The Lion of Allah". He was awarded this title in the battle of khyber by Holy Prophet Muhammad ﷺ , when he finished Murhab (A very famous and one of the most feared Jew Commander) with his first Strike.
Conqueror of Khyber Fort
Khaybar was the province, which the Jews had occupied since the times of their banishment from Palestine. It contained a few fortresses, the biggest of them was called Qamus which was on a steep hill. In these fortresses they started gathering in large number and in the end they raised an army of about ten to twelve thousand warriors and were scheming to march on Medina. Hearing these serious news the Holy Prophet (s) decided to face them at Khaybar only. He marched at the head of an army of 3000 soldiers. This battle took place in Muharram in 7 A.H.
Imam Ali (a) then was suffering from sore eyes and was left at Medina. The Muslim army succeeded in defeating the Jews in minor skirmishes but when they tried to capture the main fort of Qamus, they had to face a retreat; they could not succeed though they tried for days at a stretch. The defeats sustained there were sadly demoralizing the Muslim army. The Holy Prophet (s) had allowed every important person to command the Muslim forces day by day, but each day the result was fresh defeat, fresh demoralization, fresh boldness of Jews and increasing danger of some more clans, emboldened by the weakness and defeat of Muslims, joining hands with the Jews. There were still many such tribes who were very hostile against Islam and wanted to harm it, but the victories at Badr, Uhud and Khandaq had made them nervous. The news of the defeat at Khaybar were making them bold. "The Jews of Khaybar united by an ancient alliance with Bedouin horde of the Bani Ghatafan were incessantly working for the formation of a powerful alliance against the Muslims, and the Holy Prophet (s) knew fully well the power possessed by the desert races to harm Muslims."
There was further danger of Munafiqin (hypocrites and double-dealers) staging a revolt in Medina. Prompt measures were needed to avert these evils. Only a victory could have saved the situation which was getting more and more critical day by day. The Prophet himself was ill and sadly felt the need of Ali at his side. He knew that though ill, yet Ali had not left him alone and had followed him, therefore whether ill or healthy, Ali had come to come to the succour of Muslims, Islam and the Prophet (s). When the news of the last disastrous repulse of the Muslims were brought to him, the Holy Prophet (s) said,
"Tomorrow I shall give the command (the standard) of this army to a man who is brave, who will keep on attacking, who will not run away from the battlefield, who loves Allah and His Prophet and is loved by Allah and His Prophet and who will not come back to me without success"
Next day Ali was called from his bed and was handed over the command. He took the fort by storm; killed Marhab, Antar, Murra, Harith and four other chieftains of the Jew tries in hand to hand combats, broke open the doors of the fort single-handedly, carried his army inside the fort and within four hours, he hoisted the flag of Islam on the biggest fortress of Arabia and once more, saved Islam from a disastrous end.
The news of the success so pleased the Prophet (s) that he, though ill, came out to greet the victor, embraced him, and said,
"Ali! Had I not been afraid that Muslims will start regarding you as the Christians regard the Christ, I would have said things about you which would have made the Muslims venerate you and to consider the dust of your feet as something worth venerating; but it will suffice to say that you are from me and I am from you; you will inherit me and I will inherit you; you are to me what Aaron was to Moses; you will fight for my cause; you will be nearest to me on the Day of Judgement; you will be next to me on the fountain of Kauthar; enmity against you is enmity against me; a war against you is a war against me; your friendship is my friendship; to be at peace with you is to be at peace with me; your flesh is my flesh; your blood is my blood; who will obey you will obey me. Truth is on your tongue, in your heart and in your mind. You have as much faith in Allah as I have. You are door to me. As per orders of Allah I give you these tidings that your supporters will be rewarded in Paradise and your enemies will be punished in Hell."
His weapon is one of the most famous weapons in the History. The name of his sword was Zulfiqar. It is said that he was blessed with this sword in a battle , when during his fight he stroke his sword on an enemy's shield so hard that it broke down. Then Angel Jibrael (A.S) came from heavens in the battlefield and handed Zulfiqar to the lion of Allah Hazrat Ali((A.S). "There is no sword but the Zulfiqar, and there is no Hero but Ali". https://en.wikipedia.org/wiki/Ali
Door to the City of Wisdom
The Prophet of Islam , Hazrat Muhammad ﷺ once said that,"I am the City of Knowledge and Ali is his Gate". Hazrat Ali (A.S) was blessed with enormous strength and a unique power , at the same time Hazrat Ali (A.S) was a very kind person, who never fought for himself but only for Allah's sake.
Imam Ali (a) issued orders in details to his officers and soldiers before the battle. [84] As these orders give a clear indication of the principles and methods laid down by Imam Ali regarding Jihad (Holy War), I have breifly quoted them here:-
Never start a war yourself, Allah does not like bloodshed, fight only in defence.
Never be the first to attack your enemy, repulse his attacks but do it boldly, bravely and courageously.
Never waste your time in praising yourself and your deeds (in the battlefield by reciting epic verses) but instead extol Allah and the Holy Prophet.
Never chase and kill those who run away from the battlefield. Life is dear to them, let them live as long as death permits them to live.
Never kill wounded persons who cannot defend themselves.
Never bare a dead man for his coat of arms or dress.
Never cut nose or ears of dead men to humiliate them.
Never resort to loot and arson.
Never molest or outrage the modesty of a woman.
Never hurt a woman even if she swears at you or hurts you.
Never hurt a child.
Never hurt an old or an enfeebled person.
**By the Lord** of '**Kaaba**', I **have succeeded**
On Friday, 19 Ramadan, Ali entered Kufa mosque to perform the morning prayer (Fajar). Ibn Muljam (may the curse of the Allah Almighty be on him) wounded Ali on the "crown of his head" by a poisoned sword.
Right after enduring an armed attack with a sword on 19th Ramzan 40 Hijri, just two days before Hazrat Ali’s martyrdom, his first words were meaningful. ‘Fuztu bi Rabbil Kaaba’ (By the lord of Kaaba, I have succeeded’) he announced as blood oozed out profusely from his head. Hazrat Ali’s martyrdom led to the culmination of a life exceptionally well lived in the service of Islam and humanity.
Ziyarah of Amirul Momineen (a.s.) and invocations at his grave
Imam Sadiq (a.s.) said: Imam Zainul Abideen (a.s.) performed the Ziyarat of the grave of Amirul Momineen Ali Ibne Abi Talib (a.s.) in the following manner: He first stood at the grave, cried, and then said:
**Peace be on you O Amirul Momineen! And Allah’s mercy and His blessings be on you, Peace be on you, O Trustee of Allah in His earth and His Proof on His servants. Peace be on you, O Amirul Momineen! I bear witness that you did Jihad for Allah in a way it deserves to be done and acted according to His Book. You followed the Sunnah of His Prophet until He recalled you to His neighborhood and took you to Himself. He obligated your enemies to the argument of slaying you, in addition to many other clear arguments you already have over His creation. O Allah! Make me satisfied about that which You have destined, pleased with Your decree, fond of Your remembrance and supplication, loving Your chosen friends, loved on Your earth and Your heavens, patient on Your trials, thankful for Your superior bounties. One who remembers Your abundant bounties, yearns for the joy of Your meeting, decorated with piety for the day of Your reward, following the traditions of Your Friends, avoiding the manners of Your enemies, preoccupied by the world through Your praise and glorification.**
~May Allah Almighty Bless us with the love of his loved one's and may we spend our lives , following their teachings - Ameen
Regards ~ Syed Mohsin Ali
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Image source:1 https://www.google.com/search?hl=en-PK&tbs=simg:CAQS8wEJHaSFAfx8wM8a5wELELCMpwgaOgo4CAQSFIIf2hmLN-gpqxOCPe48nTenCoYGGhpNMHQlWEOZksvjftQL9LCIyQbmVJTv-PF8qyAFMAQMCxCOrv4IGgoKCAgBEgQHb9K-DAsQne3BCRqHAQoXCgRyaXRl2qWI9gMLCgkvbS8wMXJoY2cKGwoIcmVsaWdpb27apYj2AwsKCS9qLzRiNjNrdAoZCgZzaHJpbmXapYj2AwsKCS9tLzAyY3dmXwoZCgZtYXJrZXTapYj2AwsKCS9tLzA5eTRwbQoZCgd3b3JzaGlw2qWI9gMKCggvbS8wajdxagw&sxsrf=ALeKk006TxmAVOSTVWjr5cIVv_JPAOJVEg:1619984275458&q=imam+ali+shrine+ghadeer+decoration&tbm=isch&sa=X&ved=2ahUKEwis0J7a36vwAhUSYsAKHZqSCXsQwg4oAHoECAEQLw
2.https://www.google.com/search?hl=en-PK&tbs=simg:CAQSYQlTY5hYMnPgrhpWCxCwjKcIGjoKOAgEEhSCH-gpqxPaGa0Fizf8Jcw9zi3ALhoak7m6oFXpWd3LBoYiQzrqxmVTRX-PzMQ8nlIgBTAEDAsQjq7-CBoKCggIARIExp1qpww&sxsrf=ALeKk02KL12VogHRmPdHvPQ6dMOaVdPrxw:1619984372418&q=imam+ali+a.s+holy+shrine&tbm=isch&sa=X&ved=2ahUKEwjZ3LyI4KvwAhXgQUEAHUTBBukQwg4oAHoECAEQLw
3.https://www.google.com/search?sa=G&hl=en-PK&tbs=simg:CAQS9AEJ293naOUz4T8a6AELELCMpwgaOgo4CAQSFPoy1QzOLawegT6LIbYPqz6eHcQQGhoM6rD9dThL6ZYtkU_140-dXgREge2ZFfX39myAFMAQMCxCOrv4IGgoKCAgBEgRW3MJvDAsQne3BCRqIAQohCg1waG90byBjYXB0aW9u2qWI9gMMCgovbS8wYjc1d2c0ChgKBW5pZ2h02qWI9gMLCgkvbS8wMWQ3NHoKGAoGcHJheWVy2qWI9gMKCggvbS8wNjg3eQoZCgZwb3N0ZXLapYj2AwsKCS9tLzAxbjVqcQoUCgNhcnTapYj2AwkKBy9tLzBqancM&sxsrf=ALeKk01z2IwK-h6O0cceDnccHCbdII3tKQ:1619984443446&q=imam+ali+shahadat+quotes&tbm=isch&ved=2ahUKEwjd9quq4KvwAhWLY8AKHXHDAuAQwg4oAHoECAEQLw
4.https://www.google.com/search?sa=G&hl=en-PK&tbs=simg:CAQSxAEJrimfUROvoIwauAELELCMpwgaOgo4CAQSFI8RxQnOFrUMuj6vHegXsRusHoE-GhrDHZJ4sz99thnJcNhOsp_13M2qZlS6CDkSAZCAFMAQMCxCOrv4IGgoKCAgBEgR8neKrDAsQne3BCRpZChgKBWV2ZW502qWI9gMLCgkvbS8wODFwa2oKGwoIbGFuZ3VhZ2XapYj2AwsKCS9qLzJzaF95NAogCg5ncmFwaGljIGRlc2lnbtqliPYDCgoIL20vMDNjMzEM&sxsrf=ALeKk03Db3yoiwRrqAsTolzeGnGe6No_0Q:1619984495096&q=message+of+imam+hussain&tbm=isch&ved=2ahUKEwi_o_zC4KvwAhWuQEEAHYOdB5oQwg4oAHoECAEQLw
5.https://lh3.googleusercontent.com/N-Qg9r-SVYEJ7GzsT-lRZjszqmyBT4a5VaATLjBUERM2fXqj50w8JQl7YRJqzz5VnfPx4j4=s128
History of Labour Day
The Labour Day annually celebrates the achievements of workers. While the day has different origins in different countries, the main reason for Labour Day is unfair treatment of the labour class. May 1 was chosen to be International Workers' Day to commemorate the 1886 Haymarket affair in Chicago.
History of Labour Day
In 1893 George Pullman founded a company, by the name Pullman sleeping cars. The company was very successful in its initial stages but later it went into the recession stage , causing the company's employees to cut down the wages of many of the workers, even some customers were also dismissed. Due to this Jobless people were hardly meeting their basic needs.
A young jobless man by the name Eugene Debs led a riot against the Pullman company , all Pullman products were boycotted across the country. The issue became national when a train carrying mails was destroyed by the workers. Hence the President ordered to use force to break the riots. Men were killed and some were badly wounded.
Haymarket - Riot
On May 1, 1886, Chicago unionists, reformers, socialists, anarchists, and ordinary workers combined to make the city the center of the national movement for an eight-hour day. ... At the McCormick reaper plant, a long-simmering strike erupted in violence on May 3, and police fired at strikers, killing at least two.
On May 4 a mass meeting was called at Haymarket, at that day a bomb 💣 was blasted there leading to some major politicians death.
At last after a lot of killings and massacre, congress made an agreement with the workers and also agreed to celebrate the Labour Day 🎽.
In the last i would like to conclude my discussion by saying that:
"Labours are the backbone of a Country's economy.If Labours are happy, the country will surely be strong economically"
~Regards (Mohsin)
@Read_writes
