The impact of cryptocurrency in developing countries

In developing countries, Bitcoins, tokens and all the derivations are just a trend. They are a craze as well in developed countries but what we mean is that these coins work pretty well in countries where the economic system is down and where the local currency is devalued. Today, the currency that rules the world is the dollar. It goes without saying that the world’s economy is under the power of this currency, especially under the power of the US dollar. What does it have to do with coins and digital currency? Well, it has a lot to do with US dollars since the value of the digital currency is mostly calculated in dollars.

Cryptocurrency in countries with hyperinflation

So it means that if you have 1 token, you have 200 dollars or something like that because you have to calculate the value of tokens, coins, and Bitcoins in dollars not in another currency. This means that in countries where the inflation is high like Venezuela and Argentina, cryptocurrencies are just a business and if you have the chance to get a certain amount of Bitcoins or tokens in those countries, you may be surviving the crisis in style. In a nutshell, people who live in those two countries where the main currency is not the dollar are going through a dire financial situation, but once they start producing coins, things will change dramatically.

Cryptocurrency in the future

Anyway, Bitcoins and tokens, in general, seem to be the future currency of the future. They have been gaining ground since 2011. In 2011, many writers and bloggers started to write blogs on them. Why? Because experts say that in the future, the majority of the procedures in the economic realm will be digitalized due to the globalization. It means that the poor countries should be starting to think about how to adjust to such changes owing to the fact that they won’t be able to trade with other countries with bills anymore. What we affirm here is what is expected and what has been predicted by the larger part of the economists until now. But the good news for those countries is that although tokens are becoming more and more popular, such future we are talking about is still far from us.

When we state that such future is far, we ground such theory on the fact that countries like China, Germany, and the United States are still trading and doing business in dollars, not in Bitcoins, and honestly, they don’t seem to still be serious to change such method, especially because the major part of other countries (most of which are underdeveloped)use dollars also, and they know very little about cryptocurrencies. However, the moment for them to start using tokens for real estate and goods import and export is not so far, allowing that cryptocurrencies are more practical and reduce hassle enormously.