OneCoin and Emerging Economy

OneCoin and Emerging Economy

onecoin’s an emerging economy on the other hand the potential positive value of stable coins lies in emerging economies and threatened populations dot think of people watching their hard-earned savings depreciate or citizens of countries like venezuela and lebanon watching their currencies plummet just think of how the global covet 19 pandemic has revealed an urgent need for low-cost direct digital transmission exclamation mark in a recent paper catherine foster and other researchers emphasized that stable coins have the potential to facilitate safe and convenient transactions without the volatility and at a lower cost than mobile money stored in various non-bank wallets a positive value is desperately needed as global remittance an important development funding stream has declined due to the unemployment of migrant workers during the pandemic remittances fell by nearly 20 from 554 billion dollars in 2019 to around billion dollars in 2020 the most severe decline in recent history the humanitarian community has also seen the potential and has pushed the boundaries of blockchain technology to improve the effectiveness and effectiveness of interventions mercy corps director of emerging technologies rick shreves sees stable coins as an attractive use case that is how can it affect our work it can affect everything from back office operations to moving funds to difficult places to actual direct distribution to program participants there are many really compelling use cases for that technology related digitizing charity we can do good things better developing countries are already embracing cryptocurrencies the top 10 countries with the largest number of cryptocurrency users worldwide include kenya nigeria south africa venezuela colombia and vietnam emerging economies such as vietnam india and indonesia are leading the race for crypto adoption according to the latest crypto report from finder a financial product comparison website the trend towards cryptocurrencies by emerging market consumers in latin america africa and east asia could preserve savings that could be lost due to economic turmoil
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OneCoin and Emerging Economy

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