Blockchain technology is evolving at a rapid pace. This emerging technology not only foresees infinite possibilities, but its unlimited potential can also dramatically change people’s lives on a global scale. However, while looking to the future, we must also pay attention to the past and the present. Although often overlooked, the living conditions of some groups have changed due to the rise of blockchain technology. The following are the top five groups based on their positive impact:
5. Technology entrepreneurs
Whether it’s good or bad, the 2017 ICO boom has revolutionized the way entrepreneurship is financed. With some negative remarks, it is hard to deny that young entrepreneurs around the world have been given energy by this new form of crowdfunding. In the traditional sense, venture capital is very difficult. Some studies have shown that this process is highly discriminatory and almost impossible for most people, especially for countries with less developed technology. Adding difficulties. However, the emergence of blockchain has given unprecedented support to thinkers around the world, many of which have already blossomed.
4. Migrant workers
One of Bitcoin’s early goals was to disrupt the $500 billion remittance market. For immigrant workers, it is cumbersome to send money to family members in other countries, with high fees and often a low safety factor. The cheap, fast and global payment capabilities of Bitcoin and other cryptocurrencies make it easier than ever to transfer funds to residents in any part of the world. Individuals can transfer money to any place for a few cents, which is much lower than the traditional 5% remittance fee.
Freelancers, especially online freelancers, are taking advantage of both parties when they take over new projects and new customers, and both parties are at risk of being exploited, and the nature of these agreements can also lead to freelancers. Entrust a large amount of personal information to customers. However, smart contracts have fundamentally changed this issue. Now, it only requires freelancers to give customers a public address, and to protect themselves while giving the customer the information they deserve. Smart contracts can also be used as an agreement between the parties to ensure that neither party is exploited or deceived.
2. citizens of developing countries
The rapid expansion of the blockchain industry gives the developing countries that embrace it a chance to surpass the developed countries. Its innovative technology application can not only stimulate the transformation and upgrading of traditional industries, but also increase employment and create new opportunities for regional economy. The global nature of cryptocurrencies also opens up the possibility of creating micro-tasks, now often referred to as bouncities. Participating in a comprehensive blockchain community, citizens of developing countries around the world have carried out a large number of activities, and their cost of living and average wages are significantly lower than those of First World countries. Activities such as social media activities and translation subsidies in the cryptocurrency community enable these individuals to earn some additional income.
1. People in the currency inflation area
When it comes to blockchain, the most positively affected individuals are undoubtedly those living in areas of currency inflation. This situation can be seen everywhere in Venezuela, where hyperinflation reaches a four-digit number, making the actual wages of workers in the country less than $2 a month. Encrypted currencies can help them preserve their currency, because if they use local currency, the balance on their hands will soon disappear. Since the US dollar is banned and subject to strict regulation, the easiest alternative to operate is cryptocurrency. In this case, the emergence of Bitcoin and other cryptocurrencies changed the lives of local people and even saved their lives.