BITCOIN CASH - Understand why is IMPORTANT & which BENEFITS Can bring To The people

0 208

Written by

_Bringing Bitcoin Cash to Africa | content creator[just me carrying the world].

1 year ago

Topics: Bitcoin Cash IMPORTANCE, Benefits of Bitcoin Cash, BitcoinCash2022, Peer to Peer

When Bitcoin Cash was created it was to solve problems caused by financial instability due to over-reliance on centralized financial services, but the technology behind the currency has the power to further serve the industry.

Bitcoin Cash can have a favorable effect on the economic development of both people and even countries, as the currency is used as a decentralized digital money for payments for products and services involving people in a circular economy where anyone can be a part of.

In various parts of the world, there has been a huge demand for useful cryptocurrencies in which the individual has the power to be his own bank and use the money according to his needs. Countries like India in Asia or even Nigeria in Africa are big users of cryptocurrencies that allow them to have power over money.

These two countries mentioned above are part of a range of nations in which individuals use Bitcoin Cash, for example, to make payments for necessary products or even use it for long-term investments by HOLDING after all, the currency is fast, cheap and easy handling.

Bitcoin Cash allows PEOPLE involved in the decentralized economy to make local or international transactions in record time, as all it takes is a secure internet connection and a wallet where Bitcoin Cash is stored and business can take place.

Bitcoin Cash serves as an alternative means of payment to the traditional financial system, benefiting individuals and/or companies mainly in places where the vast majority is unbaked.

The traditional financial system is very challenging and requires a lot of documentation to open bank accounts, it is unfriendly, for example, for low-income people, making it difficult for them to get a financial loan.

Using Bitcoin Cash these difficulties can be circumvented and in a decentralized way allowing personal empowerment using decentralized finance (DeFi) or even FLIPSTARTER services to conduct CROWDFUNDING campaigns giving voice and power to UNBANKED individuals.

Thus, Bitcoin Cash has the power to fill gaps left by the traditional financial system, benefiting those who need it most!

Another benefit of using Bitcoin Cash is the ability to remit money, an IMPORTANT and crucial source of income in many parts of the world. Individuals working abroad can simply transfer money home in almost no time and keep their loved ones sustainable just using Bitcoin Cash.

Traditional remittance companies are very expensive for the worker’s pocket and, in many cases, they charge between 8-10% of the intended amount for sending, but with Bitcoin Cash this amount can be claimed by simply paying the confirmation amount on the Blockchain which is a few cents on the dollar shipping anywhere in the world.

BITCOIN CASH is borderless!

Helping to Solve Poverty

A large part of the world lives in poverty, where we have a number of countries in multidimensional poverty . This means that over 21% of the earth's population lives on the poverty line with over 83% living in South Asia and sub-Saharan Africa.

These countries are plagued by extreme poverty that affects financial difficulties, weak health system, lack of school education, violence and others.

The causes for Poverty are multifaceted, some of which are public knowledge such as: absurd inequalities in society causing marginalization of the majority, religious or political conflicts, Hunger and malnutrition (people with malnutrition cannot work properly causing even more poverty), poor health system , public infrastructure and a POOR transport system, lack of a reserve to bear the costs of natural disasters, governments not being supportive and much more.

Here, the biggest question arises:

_HOW CAN BITCOIN CASH HELP SOLVE PROBLEMS INHERENT FROM POVERTY?

As I mentioned above, one of the main factors that led to the creation of Bitcoin Cash was to solve problems of financial instability, but Bitcoin Cash still has a lot of potential with the use of its Blockchain.

It is possible, for example, to create smart contracts over the Blockchain Of Bitcoin Cash with Anyhedge or even bchbull that help people to Hedge Bitcoin Cash and thus achieve success with profits obtained from the investment. Individuals can simply use Bitcoin Cash to make even more money without having to sell the currency.

This is a clear example of how the Bitcoin Cash blockchain can be used to solve certain problems that directly affect people's lives. The above example is simply to identify how the Bitcoin Cash Blockchain can help, but there are still other mechanisms that can be developed on top of the Bitcoin Cash blockchain and thereby help keep individuals with an extra income and help fight extreme poverty.

Bitcoin Cash technology certainly helps those who need it most, and with the prospect of developing, for example, and in the near future, solutions based on the health sector, as the Bitcoin Cash blockchain allows for decentralized smart contracts.

Solutions created for example by the Zapit_io wallet can help citizens in India make payments without the stress of currency price volatility as it allows them to pay in BITCOIN CASH but the merchant receives the money in INR through a Unified Payments Interface Network.

Bitcoin Cash allows the inclusion of everyone in the decentralized economy of digital money.

It allows merchants to accept direct Peer to peer payments for products they offer and thereby increase the range of national or even foreign customers and thereby save a considerable sum of money that can help fight both poverty and INFLATION.

The decentralized nature of Bitcoin Cash allows individuals to continue to make P2P transactions even as regulations are issued allowing everyone to protect economic power privately by challenging problems caused by poverty.

It is possible to pay for suppliers abroad using Bitcoin Cash and thus solve problems of having to buy dollars (spending more than necessary) and paying huge fees, as well as combating the devaluation of the dollar in the capital market. Thus, earning more profit, employing more people, Bitcoin Cash has more practical utility and increases the circular economy of Bitcoin Cash in the world.

In times of crises caused by natural calamities it is practically possible to send money to help just using Bitcoin Cash and thus ensure that a significant number of people do not perish due to lack of government support.

BITCOIN CASH in a simple way allows individuals living in extreme poverty to have a path to breaking challenges that arise from this problem.

Giving UNBANKED Another Touch

Official records estimate that two billion people worldwide are UNBANKED . This allows people outside the traditional financial system to be onboarded to Bitcoin Cash.

Reports say that the majority of unbanked people come from countries with poor economic infrastructure or where people do not trust the local financial system, making the use of Bitcoin Cash even more appreciated.

Another factor is also related to the demand for documentation, the high fees charged by local financial services that require an initial amount to open an account, maintenance and painful fees when withdrawing money, thus inhibiting many NOT to adhere to financial services centralized.

Banks do not provide support for low-income people, which increases economic inequality and marginalization of a part of the population.

Bitcoin Cash allows UNBANKED people to take charge without having to worry about documentation or even initial account opening amounts, making them their own BANKS.

Therefore, as we can see that Bitcoin Cash is very important to people and allows them to have greater financial freedom using non-custodial wallets, people can use Bitcoin Cash to fight poverty as well as inflation.

It is an inclusive currency allowing anyone to be a part of Bitcoin Cash's decentralized economy.