How Cryptocurrency Can Serve the Underserved

Cryptocurrency has been a trend for so long, probably longer than the list of things it can do.

There have been many individuals and businesses taking advantage of it and turning it into profit. But has it really served all the purposes it was promised upon?

The transparency. The speed. The convenience. Has it benefited those who don’t have access to basic technology, or only enlarged the pockets of those who managed to make it live up to its hype?

Cryptocurrency Can be the Main Way For Charity Donation

One of the most noticeable features of cryptocurrency is its transparency. Simply put, once you make a transaction, you can’t alter it.

How come we don’t apply that to all charity donations – about which some people still have a lot of doubts due to embezzlement or dishonesty. In fact, Save the Children was the first NGO to accept bitcoins and other cryptocurrencies back in 2013.

Not only does it provide a faster way for everyone to donate without having to go through all the paperwork (yes you need a lot of paperwork for donations especially if you’re donating as a business), but it can also make sure those who donate do put in the same amount they state in their tax file.

No more charity scandals on TV, and people get the support they need.

Cryptocurrency Can Be Used to Pay Women

It isn’t shocking that twice as many men are investing in cryptocurrency as women (CNBC). So imagine how many women are actually benefiting from them.

There have been a lot of notions about how women can advance with cryptocurrencies, such as easier access to financial services, more capital to start a business, or even a more discrete way to keep their income from their families (?!?).

These are way too general, not to mention some are implying inequality in women’s power over their personal finances. That is, however, partly true, considering women tend to get paid less than men or even skipped because they work in jobs that are generally not allowed in public, such as prostitution, mining, or even starting a business.

Using cryptocurrency to pay would solve a part of the problem as now they can work in fields they have the capabilities, and smart contracts will ensure that they get exactly what they earn. But of course, the bigger problem lies in solving the pay gap between genders.

Cryptocurrency Can Replace Traditional Voting

Just like donations, there are a lot of doubts and uncertainty when it comes to voting.

In those countries where voting only serves as a “public act” with predefined outcomes, cryptocurrencies or more specifically – blockchain technology – could be an incorruptible method of voting.

The process could be as simple as this: each individual performs a transaction using a voting token. The transparency is backed by the inability to alter the network which stores the transactions, and no external party could influence the process. And if the Nation scale is too wide to use this, then the corporate application would work for the benefit of those who usually have no say in the politics of the place.

Cryptocurrency Can Save Lives

In some countries, access to replacement organs is very limited due to facility storage capacities or old beliefs. Thus, people have been trading in black markets and doing horrible things such as human trafficking to steal organs and sell them for a profit.

How can cryptocurrencies stop this? First, they will allow people to transact without a middleman. That will save both the buyer from giving up all their assets for a price they can never afford, and will morally ensure the seller that the organ they donate actually ends up in the right hand (or body). Moreover, it provides a wider selection where everyone in the world can quickly look when in need, and a safer environment to perform the transaction regardless of the restrictions where they live.

A Better World For All

Perhaps like all financial mediums, cryptocurrency transactions should also be audited to see where they mainly flow, and whether the amount of CO2 those mining computers give out to the environment is worth the chance for a better world.

If done right, more people will surely benefit from it, and the world will witness more democracy. But to hope that it can fully serve its purposes will require efforts to educate more people and the morality of those in high control of the crypto world to think more for our future. For the world.