780,000,000 people around the world live in extreme poverty on $1.90 a day. That's 11% of the world's population. With children under the age of 5, 1,000 die each day due to illnesses linked to contaminated water, malnutrition, and inadequate living conditions/sanitation.
This isn't a blog asking you to donate to any charities, or fundraisers, or anything like that. I'm not an activist trying to shove any beliefs down your eye sockets. No political. I was just reading through other blog posts and tokenomics popped into my head. You know how you can hold your cryptos and stake them for a percentage return? What if that percentage was sliced buy a fraction of a percent and used for a good cause? Third-world nations that could potentially partner up with blockchain foundations to use as a currency? Before you break out your pitchforks and come after the guy on the internet talking about slashing our return percentages... hear me out!
Take RFI for example. RFI stands for Reflect Finance. These tokens try to make yield farming frictionless. They rely on their own core smart contract codes rather than other DeFi, and apply a transfer fee to each transaction. Those collected fees, in return, are distributed to stakeholders within the blockchain. Active blockchain accounts vary from each other on their respective blockchains, as well as trade volume, market caps, etc. If blockchain foundations offered a vote within the community, to issue a RFI token to coincide with a beneficial cause, but reduced your profits by a fraction of a percent, would you be willing to take that hit? Or maybe there could be a different option where stakeholders can toggle on/off their contributions from APY/staking.
"But if countries are so stricken with poverty already, what makes you think they could implement a new currency based on donations and everything will be okay?"
You're right. Of course it would take an astronomical amount of research and development, way more than I could possibly even wrap my head around. But it has me thinking... what if? What if that could be a viable solution to assisting other human beings who need it the most? Even if it is just to get basic necessities where they live. It's definitely just a thought but, who knows, right? With crypto, anything is possible!
Thanks so much for reading! Please feel free to follow my page for daily blog posts about crypto news, updates, and research!
