With the imminent arrival of block chain technology in the global economy, it’s set to promote a number of benefits that the cash economy has failed to effectively make.
These include some of the following below.
Transparency of Crowd funded capital
Crypto currency will help to make crowdfunding more easier and transparent.
Nobody really likes to donate their money and have it swindled by undeserving people.
Therefore through online crowdfunding, everything is easy, transparent and encouraging.
People who are in need of funds can also easily reach out to their targets and explain the purpose of the funding.
This also eliminates third parties who could delay the process or swindle the funds plus the funds are also availed to the public on how they have come in.
Means of Payment
The COVID 19 pandemic has really shown that paper money can’t stand all the test of time.
Therefore in future, crypto currency will be a better and more convenient means of payment since it’s digital and not physically handled.
Present day businesses have a tendency of rewarding workers with shares of the company profits.
Therefore with the continued growth of the crypto currency, and if adopted by companies, then workers could be rewarded with crypto shares and this could prove to be very massively rewarding.
Help in easing Transborder Payments
According to Statistics, there are over 25M Africans in the Diaspora for the case of Africa.
These contributed to about $48B in 2019 which is crucial in the development of the continent and other particular regions.
Most of the remittances go to building the different sectors of the different regions