LAC Fights Back Poverty with Blockchain Technology

in hive-175254 •  4 years ago 

Blockchain and the use of cryptocurrency tokens as "expendable digital assets that can be used as a medium of exchange (trade) within the ecosystem of blockchain project issuance" immediately changed some adverse situations, especially given the massive penetration of mobile phones and internet technologies in the LAC market.

Blockchain technology will tackle unfair practices because the technology detects corruption, because it is decentralized, and the financial transactions entered into the system cannot be manipulated, allowing for accountability of all financial transactions.

With the irrevocable security of the blockchain, poor rural farmers will be able to borrow their estates and invest in businesses or communities, which will help achieve economic sustainability.

Source:

See also:

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

This is a very interesting idea. I can see rural farmers being able to access cash to manage their farm until harvest time. Perhaps being able to borrow against their crypto assets that may be in holding. This can be a game changer. A new type of financial service around managing your own crypto bank.