How does blockchain technology change the world through value dissemination?

The rapid growth of the Internet in the developing world has had a clear impact on the way of life of people in the world's poorest countries。

Thanks to internet connectivity, millions of people have been lifted out of poverty and gained better educational opportunities. The spread of networks simplifies the process of communication and helps increase crop productivity and participation, thereby improving living conditions.

The impact of the Internet is truly global. As of April 2022, more than 63% of the world's population has started using the Internet.

Developing countries have become the fastest growing part of the Internet market in recent years, and this rapid expansion has brought about some overwhelmingly positive changes.

One of the biggest impacts of increased connectivity is poverty reduction. Through increased communication, millions of people in developing countries gained for the first time the opportunity to enjoy the benefits of a modern economy. The Internet has facilitated services such as electronic banking, enabling people to obtain loans for the first time.

In 2017, a study published in the BE Macroeconomics Journal showed that there are currently more than 3,098 microfinance organizations worldwide, with a total of 211 million clients in the developed world. This has greatly improved people's lives.

A case study in India found that those businesses that received microfinance were almost twice as profitable as those that did not. Research has found that with credit, more people have access to discretionary income, enabling them to invest in businesses rather than spending money on everyday necessities.

The advent of the Internet has also improved access to education for the population by narrowing the gap between urban and rural populations. In rural areas, the government is using mobile devices such as tablets to provide education to children who would otherwise not be able to attend school.

In 2016, the Kenyan government released a massive literacy campaign with a budget of $173 million, which was used to buy tablet computers and pay teachers.

The project relies on inexpensive, durable and personalized tablets to provide students with access to educational content, thereby creating new learning opportunities in Kenya's most remote areas.

Another advantage of the Internet in developing countries is that it provides more opportunities for communication.

The Internet is by far one of the most effective tools for global communication, enabling those in remote locations to interact with people living around the world through social media apps like Facebook and Twitter and chat apps like WhatsApp.

A 2017 survey showed that in sub-Saharan Africa, 85% of Internet users use the Internet to keep in touch with family and friends, and 60% also use social media.

Another benefit is the use of "Internet of Things" systems, the emergence of the "Internet of Things" is enabling farmers in remote areas to obtain information to improve crop yields.

Data on important variables such as temperature, humidity and topography help farmers plant the right crop at the right time to maximize productivity.

In turn, the development of precision agriculture has led to the establishment of more targeted insurance.

For example, farmers in East Africa get crop insurance through Kilimo Salama. They can then receive insurance payments if local weather stations report extreme weather conditions, such as floods or droughts.

Finally, the rise of the Internet has brought more attention. In 2017, 53% of internet users said they used the web to update news. This is especially important in some unstable third world countries where there are conflicts that allow people to stay safe.

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blockchain revolution

The spread of the internet has brought positive changes to millions of people around the world, and with the arrival of another revolutionary technology that builds on the success of the internet, the lives of the global population seem to be further improved.

The Blockchain Revolution Brings a New Kind of Money and Banking Services, namely Crypto and Decentralized Finance.

According to the World Bank, more than two billion people in the world currently do not have bank accounts.

The reasons why so many people are unbanked vary, but they include a lack of banking infrastructure in remote areas, an inability to provide the ID needed to open a bank account, or a lack of minimum deposits. Without savings and credit, these people cannot participate in the modern economy.

The rise of blockchain technology promises to change that, giving millions of unbanked people access to financial services, which will raise their standard of living for the first time.

One problem with traditional banking is that it cannot sustain the small payments required for everyday life in the poorest and most remote parts of the world. The cost of these micropayments is simply too high for banks to process, especially if the technology underlying the infrastructure is challenging, or if the fees are much higher than the transaction amount.

On the other hand, Crypto hosted online comes with its own technology as infrastructure and can be accessed through existing mobile devices, which means that there are no operating costs and transaction fees are much lower. Therefore, micropayments become feasible, providing people with a safe and convenient way to exchange money.

Since the blockchain is decentralized, no ID is required to create a wallet to use Crypto, solving another major problem, the millions of unbanked who may not have birth certificates.

And using blockchain technology, not only can you freely access Crypto without an ID,Blockchain technology can also enable traditional banks to simplify existing KYC operations by using digital identities。

For example, KILT Protocol's SocialKYC service allows users to create a digital ID after confirming their ownership of an email address or social media account. This digital ID can then be used to access multiple other services that require KYC checks.

Another key advantage of blockchain is its ability to create new revenue streams. Millions of people around the world use social media every day. Through decentralized peer-to-peer payment networks such as PIP, it is possible for these individuals to convert their social media presence into income.

PIP has established a Web3 infrastructure designed to connect Web2.0 platforms such as Twitter, Instagram and Facebook to achieve a more decentralized "creator economy".

While it has long been possible for users to make money on platforms like YouTube, the question is how to get those funds. These services are siled and run their own payment systems that require traditional bank accounts to access.

With PIP, it is possible to monetize social media content on a neutral platform. PIP enables users to send Crypto to any social media user by connecting their social media identity to a Crypto wallet.

In other words, PIP provides a decentralized way for people to monetize their social media content. So someone who writes a blog post on Medium, or publishes a video on YouTube, can create a paid channel and get paid for what they create.

"In developing countries, simply connecting through social media can create more than the average household income." PIP stated on the official Medium, "Through PIP, people from all over the world can send tips to anyone they connect with. Or pay for the mission."

However, NGOs have gone further down this path, removing barriers to entry for traditional financial services such as credit. Thanks to the internet, microloans are becoming more and more common, and only those with ID cards and bank accounts can get them.

With DeFi, peer-to-peer lending is enabled through an infrastructure that distributes risk among the individual investors financing the loan. This alleviates the need for a single entity to bear all the risks.

In this way, lending pools like CREAM Finance and Compound can provide more convenient loans for those who cannot obtain loans.

With DeFi, more people can invest in large-scale projects.

Financing everything from real estate to infrastructure, technology and DAOs can now be done using Crypto and smart contracts.first level title。

The future is decentralized

Continuous innovation around crypto and defense systems will continue to shape the future of financial services.

We are already feeling its effects as traditional institutions increasingly embrace decentralization, which is good news for many, especially those who are unbanked.

Thousands of people around the world are discovering new opportunities through the diversification of financial services.

Now,

Now,With the advent of blockchain and greater financial freedom, we are on the verge of a new revolution.

The original text comes from zycrypto, compiled and organized by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.

The original text comes from zycrypto, compiled and organized by Blockchain Knight, the English copyright belongs to the original author, please contact the editor for Chinese reprint.