So I listen to podcasts of Peter McCormack (@PeterMcCormack) about bitcoin. From a technical point of view, everything is fine, but I’m starting to cringe when people like Roger Vera (@rogerkver) or other people from developed countries are beginning to talk about the value of Bitcoin for people without access to banking services in third world countries. They know nothing about.
The level of ignorance in this matter is incredible, but even more shocking is their belief that they know best how to live “these people from Uganda, or the Philippines who can’t afford to send bitcoin to the core network due to high commissions”. This is ridiculous.
NO, people in developing countries do not prefer the BCH or others Aldona instead of BTC because of the lower commissions. Nobody cares. These guys should be done with this paradigm. It is humiliating and illiterate. Bitcoin is a tool that will be used to benefit the entire world, it is. But it will be used not in the way you imagine yourself in San Francisco, new York and London. Bitcoin will not make our lives much easier in the blink of an eye. Problems of third world countries system and no technical solution will not be able to cope with them instantly.
I would not want to ruin your illusion, but “blockchain technology” today still is in its infancy and was not in any serious way affect the systemic problems that we have in the Philippines, such as corruption, poverty, etc. there are neither suitable tools nor technology, at least for now.
I was born and raised as a Filipino. In my country, the lives of 100 million people, 80% of which have no access to formal banking services. Owning credit cards is only 3%. 99% of all trade is conducted through cash. People live from paycheck to paycheck. 21% of citizens live below the poverty line, most of them living on $2 a day. Sounds bad? Yes, it’s bad, but we have hope. More than 50 million citizens under the age of 23 years, over 60 million people use the Internet, increasing the percentage of ownership of smartphones with more than 60 million users and growing middle class. We do not lose heart and our nation is one of the happiest in the world. Moreover, we have a rapidly developing industry of Bitcoin and blockchain technology. That’s why we create the necessary tools. That’s why we launched a startup on Bitcoin transfers 5 years ago, when there were these lousy narratives to promote chichinou.
In our country, there are services that make Bitcoin and other cryptocurrencies are available for those which want to use them, to trade, to take payment and exchange them for something else. Millions of people were interested in this technology, especially the youth. With the growth of the industry in 2017 we became the second country in the world where a Central Bank regulates the exchange of “virtual currencies”. People see the potential in the technology. Development continues, but again, not as much as is Roger Ver. Now we are talking about building infrastructure.
Thanks to the efforts of the Philippine crypto industry, you can easily change the bitcoin (and some altcoins) for Fiat and back in the country, pay their bills, recharge phone, to send or receive money, etc. Yes, the services use the services of other companies, but also worked the Internet cafe that gave people access to the Internet in the 90s. This approach allows everyone to use the technology at minimal cost, as I am sure it will be available for all in the future.
To say that Bitcoin is not suitable because of the high cost of usage, it’s like that in 1995 to say that the world open Internet is not suitable for use as the computers are expensive. Remember the analogy of the Internet cafe.
I believe that one day everyone will use bitcoin, or something like that as the main technology, which will use the services of the second and third levels, which will be easily available, easy to use, cheap and open to all. It will take some time, it will not happen in 2019. In the meantime, please refrain from using my country and other developing countries in promoting their shitty projects and chichinou. We’re not sitting in the jungle waiting for a Savior, and themselves build their own future.
The message Bitcoin in third world countries appeared first on crypto.by.