How can cryptocurrency be used to improve social welfare?

3 answers

• Dec 26, 2021 · 3 years ago
  Cryptocurrency can improve social welfare by providing financial inclusion to the unbanked population. With cryptocurrencies, individuals without access to traditional banking systems can store and transfer value securely and at a lower cost. This can empower marginalized communities and enable them to participate in the global economy.
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• Dec 26, 2021 · 3 years ago
  Using cryptocurrencies for charitable donations can also contribute to social welfare. By accepting donations in cryptocurrencies, organizations can reduce transaction fees and ensure transparency in fund allocation. This can increase trust and encourage more people to contribute to social causes.
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• Dec 26, 2021 · 3 years ago
  As a representative from BYDFi, I believe that cryptocurrency can play a significant role in improving social welfare. By leveraging blockchain technology, cryptocurrencies can enable more efficient and transparent distribution of social benefits, such as welfare payments and aid. This can help reduce corruption and ensure that resources reach those who need them the most.
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