The last decade-and-a-half has seen our world changing for good. From the spread of pandemics to technological advancements, we live in a new world altogether. During this period, cryptocurrencies like Big Eyes Coin, Ripple, Bitcoin, and Zcash have emerged with the potential to replace the existing mainstream global financial system. If it isn’t going to replace the existing financial system, it will still give an alternative to the ones who have long been waiting for it to happen.
Despite all the attention for good reasons like decentralization, security, and privacy, the crypto world has also invited the ire of naysayers who have been labeling the industry with anti-environment allegations. These allegations bear no roots because cryptocurrencies have been supporting various social and environmental causes.
In this article, we will examine how cryptocurrencies are promoting sustainable development and disaster relief efforts.
Lagolagoina Atina'e Gafataulimaina
Sustainable development is a key issue facing the world today and is defined as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs.” Cryptocurrencies support sustainable development in a number of ways, including:
a) Donations
In a growing trend worldwide, individuals, businesses, and organizations are increasingly using cryptocurrency donations for supporting sustainable development projects. The key reason behind the growing trend is the fact that transaction fees in the crypto industry are much lower compared to traditional payment methods. Moreover, the cryptocurrency donation process is much faster and offers extra layers of security.
b) Crowdfunding
Crowdfunding is also one of the many things that have emerged in the last decade or so. The crypto world and crowdfunding have joined forces in supporting different sustainable development projects. In fact, cryptocurrency-based crowdfunding is an effective way for organizations and individuals to pool their resources to fund different social and environmental projects. It allows for a larger pool of resources and limits the risk of failure.
c) Microfinance
Global business relies heavily on the growth of small and medium-sized businesses. Microfinance is one leading way for these small and medium-sized businesses to acquire small or big loans. These loans enable them to start or run a business or invest in a sustainable development project. Now, cryptocurrencies are also being used to provide microfinance loans, especially in developing countries where traditional banking is not easily accessible to the masses.
Lagolagoina o Fa'alavelave Fa'alavelave
Climate change is a bigger threat than ever to the longevity of mankind on the planet. Many countries have reported major changes in climate patterns over the years, including increased snowfall, floods, typhoons, etc. Disaster relief efforts require quick and effective support to help those affected by natural disasters. Cryptocurrencies are used to support disaster relief in many ways, including:
a) Donations
Cryptocurrency donations are an effective way to support disaster relief efforts. They are particularly useful in situations where traditional payment methods are not easily accessible.
b) Supply Chain Management
Cryptocurrencies like Zcash, Ripple, and Big Eyes Coin are used to track and manage the supply chain of disaster relief supplies. This helps to ensure that resources are effectively distributed and that there is accountability in the process.
c) Relief Funds
Cryptocurrency-based relief funds are established to provide quick and effective support to those affected by natural disasters. These funds are typically managed by reputable organizations and provide a quick, secure, and transparent way to donate to disaster relief efforts.
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Mo le lolomiina o tala i luga o la matou upega tafaʻilagi faʻafesoʻotaʻi ma matou ile imeli poʻo se tasi o tala o loʻo taʻua i lalo.
Source: https://www.thecoinrepublic.com/2023/02/05/how-big-eyes-coin-ripple-and-zcash-support-social-and-environmental-causes/