How Does Bitcoin Help Eliminate Poverty?
October 05, 2021

How Does Bitcoin Help Eliminate Poverty?

World poverty is a growing issue and needs immediate attention. A lot gets spoken about how the rich can become wealthy by investing in Bitcoin technology. However, the Bitcoin world is not only for the rich, and it can help eliminate world property. Blockchain networks help to improve the delivery of foreign aid and its efficiency. Transparency can help in a helpful way to get rid of world poverty.

In 2017, more than $144 billion in foreign aid was offered to OECD countries. These funds were to get spread across different sectors like social-economic infrastructure, health and education. Most of the donated money should have gone towards the essential staple, clean drinking water, providing school materials to students, and nutritional supplements and basic staples to humans and livelihood. However, studies have been going on to see whether it would be more effective to send this amount directly to the individuals of families rather than relying on intermediates.

People on the receiving end are far more aware of their needs than the intermediates and can get rid of the inefficient or corrupt intermediaries. A considerable amount of funds that get donated to the Nations do not end up in the correct place in the long run.

Blockchain network technology can help reduce the middleman.

Taking away the power from an international intermediary and putting the power directly in the hands of the needy can increase the effectiveness of the global aid system. Smooth distribution of the wealth can get done through direct cryptocurrency deposits.  There is a lot of advantage in the cryptocurrency-focused approach. Many countries are not yet welcoming because of the infrastructure needed to ensure the implementation of the currency system to allow the recipient to cash out the coins they need for the services.

By circumventing the middlemen, all the charity groups and dispersal of funds can happen to the immediately needy ones. In many countries where inflation is high, sending cryptocurrencies to the nation can help build the bank infrastructure. Research is being done on the efficacy of direct cash transfers and their potential to improve the aid system.

Blockchain is a transparent system and can help the nation by directly depositing the money in the wallet of the person in need. Free of a local bureaucrat or government oversight, the direct charity has a bright future to end world poverty by uplifting the needy.

Cryptocurrencies have gotten widely considered as an instrument with the supposed growth process in developing countries. Developmental barriers can be broken down with the intention of decision-makers to possibly use the cryptocurrency system. Developing countries can benefit from the middle class having access to assets in the form of bitcoins. This system can quickly help the lack of social trust and increasing access to financial services. Cryptocurrency will also promote direct money transfers and reduce the fraudulent activities that have been happening. A safe digital wallet and the right platform will increase a person's wealth ten folds. Selling and buying of assets are entirely open and corruption-free in the cryptocurrency and the blockchain system.

Bitcoin is a leading cryptocurrency and carries the value of common records and proof to avoid corruption. The transparency with which the blockchain and the Bitcoin system works, proper knowledge can help one get rid of their low paid jobs. Offering network independence, complete security investments, quick payments, and the advantage of using transaction amounts or not using them makes Bitcoin highly prestigious amongst other currencies. You can learn more on


Cryptocurrency trade has entered a financial stage to help reduce poverty and even eliminate it if used wisely. While technology has tried to reduce poverty to a certain level, if the people of the countries get introduced to blockchain technology, poverty can vanish in no time. The safe, quick and innovative cryptocurrency carries a lot of potential in removing the lack of capital and property assets.