Underdeveloped countries should not be understated when talking about crypto-related topics. In fact, the populations of these countries could surpass the rest of the World in the process of mass adoption of cryptocurrencies.
There are three factors suggesting that, not long from now, developing countries might have a significant impact in the industry. First of all, there are billions of people living in underdeveloped countries. Moreover, in many of these countries, State coins have come to be little more than waste paper (see Zimbabwe, or even Venezuela) and, lastly, State governments usually impose capital controls that do not allow people to freely dispose of their money.
Well, cryptocurrencies completely solve the last two issues reported above. They are excellent coins (especially Bitcoin), they generally do not depreciate, they are global, and they are not censurable. However, for these exact same reasons, they also have a flaw: cryptocurrencies are not usually supported by State governments, especially those that issue money-shreds or that want to enforce capital controls.
However, although in many developing countries the governments themselves could hinder the usage of cryptocurrencies, we know that it will not be enough to stop their diffusion, also considering how weak these governmental structures usually are. Being that a smartphone connected to the Internet is all that is needed to operate in the crypto world without any limits or controls, and that, in such emergent nations, the smartphone is the absolute favorite technology device or often the only one available, it is easy to forecast that these populations will start using cryptocurrencies in millions or perhaps even billions!
We just need to “trigger the fuse” by coming up with ad-hoc mobile applications, which may even support local languages, with the aim of simplifying the usage of such alternative currencies. Together with these basic applications, a whole new generation of investment platforms has to be implemented, allowing even the poorest ones to earn a passive return that, no matter how small, could then be reinvested to start local businesses and avoid the present conditions of misery in which they are living.
In fact, we have never imagined what would happen if 2.5B unbanked people could in such way have access to micro-investments. So far, they have been unable to do so for at least two main reasons: they do not have a bank account and existing platforms do not allow them to invest small amounts.
This inspired three of the top experts in the blockchain and crypto scene – Giacomo Arcaro, Giovanni Casagrande and Eloisa Marchesoni – and the founders of the extremely successful and well-known Àureus investment platform – Andrea Bagnoli and Marco Zangarini – to prepare to launch a crypto-investment decentralized platform based on ETH with fixed stakes payments on a daily, weekly, monthly or a yearly basis.
Such platform will allow anyone to invest even just a small amount of money and get profit as soon as by the end of the day. No more waiting, no more big amounts required, no more queues for cashing out, no more barriers. It will all be completely decentralized in order to avoid any middle-man and any human interaction, restoring the feelings of trust and respect that the public nowadays seems to have lost when speaking of the investment world.
When will cryptocurrencies spread in the emergent nations? Difficult to say, but, when they will, it could be a very sudden, big bang.
By Eloisa Marchesoni.