Crypto is an unprecedented opportunity for many investors. In recent years, digital assets have performed so well that traditional assets such as stocks are just a tiny dot in the rear-view mirror in terms of return. One of the reasons crypto has gone so fast in recent times is the fact that many investors see huge potential in the industry, potential to make the world a better place.
Blockchain part of the solution
The rise of the crypto sector is compared to the advent of the internet. That caused a huge revolution worldwide with people suddenly gaining access to an infinite amount of information and companies that could offer their products and services all over the world. Can blockchain have the same impact on the world? I think so.
We have many problems in the world. Think of climate change, derailed monetary systems where money printers work overtime and also hundreds of millions if not billions of people without access to the internet and banking services. These are, of course, just some of the big problems in the world. But I think crypto and blockchain can mean a lot here.
For example, look at climate change. Blockchain projects offer various solutions to contribute to solving this problem; of transparent automated supply chains until smart grids in residential areas that enable the exchange of electricity generated by the solar panels on your roof. Blockchain makes it possible for us to put such systems into practice in a fair, transparent and efficient manner.
That may sound a bit futuristic. While these solutions are in full development, we are not actually seeing them in practice on a large scale. One area where I expect to see a difference in practice more quickly is making economies worldwide more inclusive. This means making it possible for everyone to participate in the economy of their country or the world.
Cardano (ADA) active in Africa
In sub-Saharan Africa alone, 350 million people do not have access to banking services, according to the World Bank. That means no digital track record, no loans and no money in a safe place for them. Moreover, it means for these people that it is very difficult for them to participate in the local economy. This week we saw a number of positive developments in this area.
That’s how Input Output, the developer of Cardano (ADA), announced that it will work together in two African countries. In Ethiopia it will 5 million students give them a digital identity and allow them to record their performance on the blockchain. In Tanzania, it will work with World Mobile to build infrastructure to provide everyone with it internet te connect and also give them a digital identity.
If this really got off the ground, the economies in these countries would probably be a good one boost through access to education, health care and above all the economy. Last week I wrote about SafeMoon that actually no use-case has. Crypto is much more than that. In the future it could be of great significance for major issues in the world. This is why I find the crypto world so fascinating!
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