How will crypto change the world as we know it?


#1

I’m new to crypto and do see that this technology will impact the world, but my question is in what way will it impact the world?


#2

If we are talking philosophically, then banking the unbanked and giving the world an alternative to the current banking system.


#3

As Barry says banking the unbanked is a massive (1.7b people) opportunity that crypto could solve, along with those whose banks/governments are no longer secure or trustworthy ( http://time.com/5486673/bitcoin-venezuela-authoritarian/ )

But even in countries like ours, there’s also massive potential for improving the way our systems currently work, or opening up new opportunities. Examples would be:

  • improving the way we do international payments. Right now it takes me 4 days to send funds to Australia and costs $70!! - crypto could do that within seconds and at no or low cost
  • opening up investment opportunities to everyday people. Typically you can only invest in things like stocks if you have a minimum investment amount that is out of many people’s reach. Crypto can completely democratise investments, making them open to everyone at any investment level

That’s just a few examples, there’s many out there including community fundraising, voting systems, micro payments … the list goes on!