“The crisis also changed according to working conditions, during the first month of the pandemic, workers in the informal economy in Africa and Latin America saw their income reduced by 81%, highlights an International Labor Organization - ILO. Added to this, 1.5 billion students affected by the closure of schools and universities. The World Health Organization - WHO reported, in August, the results of a survey in 159 countries on essential health services during Covid-19: “In low-income countries, essential services - such as cancer and HIV detection and treatment - suffered high-risk interruptions ”.
At this juncture, the UN defended, in July, the introduction of a temporary basic income for about 2.7 billion people who survive below and slightly above the poverty line, in 132 “developing” countries (thus quoted covers one billion “poor” people and 1.7 billion “vulnerable” people, who together represent 44% of the total population of the 132 countries and 35% of the world population).
The proposal appears in the report Basic Temporary Income: Protecting the Poor, Vulnerable and People in Developing Countries, of the United Nations Development Program (UNDP). The document presents the example of three countries that, among others, promoted initiatives with these characteristics: Spain, Colombia and Togo. "
How much can cryptocurrency projects help in managing the world's minimum income?
Naturally, there is a notable challenge in transferring resources globally to third world countries with the aim of making the distribution of a minimum income feasible for citizens in situations of extreme poverty.
After all, what is the guarantee that these resources will reach specific customers, countries invariably live in a process of political, economic and social disruption, involved in civilizing challenges and subject to all sorts of problems such as violence and corruption. Especially for women and children, the main causes of this tragedy.
Cryptography can, if not solve this historical problem, but enable a point-to-point income distribution model, ensuring, at least in theory, that resources are distributed directly to vulnerable populations, with the least possible intermediaries, to avoid the diversion of the meager resources.But, for that, it is necessary to solve challenges inherent to the third world and to technology:- Registration of vulnerable or humanitarian associations (NGOs) that serve them;- Data communication infrastructure compatible with the process;- Financial agent that manages the distribution of resources;- Equipment to store the virtual wallet for receiving the values;- Accreditation of commercial points to enable cryptocurrency exchanges for products and services. Of course, nothing will prevent deviations from occurring in this process, but cryptography is the most viable, inexpensive and effective way of transforming something that today is only a utopia, into a reality.When we reach that level, the cryptographic market will be effectively revolutionary and will definitely justify its creation, silencing all its detractors and contributing to a new world, by solving a great challenge in the real world.
