Cryptocurrency: saving the world one purchase at a time?

You are the future and the future is yours. With an innovation like this, ‘Rhino’ are in good hands and you, the Rhino Community, can make dreams come true.

Cryptocurrencies are often speculated as mainly an investment opportunity, but is the future of cryptocurrency destined to improve, solve and benefit society and the eco-system?

What exactly did Satoshi Nakamoto have in mind when ”he” published the bitcoin white paper in October 2008, before mining the genesis block and launching the network the following January? Was it to empower human riches or was it intended to be used for something bigger than mankind’s own greed?

It’s impossible to know for sure, as Nakamoto has remained both anonymous and silent since establishing the original cryptocurrency. But, as citizens with a voice and a social responsibility, we have been given the power and knowledge of this newfound technology and we need to decide what we should use cryptocurrency for.

Connecting dots

Can cryptocurrency be a force for good?

There are a multitude of examples, all over the globe, showcasing how cryptos can be a force for good.

“When applied in the right use-cases, we may well see cryptocurrency do to certain industries what the internet has done to how we access information or what mobile technology did to how we connect people.” says Doug Galen, lecturer at Stanford Graduate School of Business and chief executive of RippleWorks, an organisation that connects start-ups and technology experts with promising social ventures around the world.

Could this be what the person or people behind bitcoin were striving for?

Ian Bradbury, chief technical officer of financial services at Fujitsu, says: “The most obvious developing social value use-case for a ‘stored value’ solution is in the area of identity. Although you may not see identity as a cryptocurrency, it certainly has significant value to an owning individual and it is frequently shared with others in a controlled way to gain access to many services, for example border control, right to work, education, healthcare, financial services, benefits and many others. Now, very basic forms of identity management are being implemented to help refugees, for instance.”

Globe

Bringing financial freedom to the ‘unbankables’

“Cryptocurrency will achieve greater financial inclusion for people in developing countries,” says Jimmy Nguyen, chief executive of London-headquartered crypto specialists nChain. “They have large unbanked populations with limited access to financial services because they cannot easily save, store or send money. But with a digital wallet on their mobile phone, ‘the unbankables’ can participate in the digital financial world.”

Cryptocurrency will achieve greater financial inclusion and influence for people in developing countries such as Kenya, where electronic money is already taking over.

In 2013, thousands of Kenyans signed up for a bitcoin wallet offered by the revolutionary mobile phone-based money transfer, financing and micro-financing service M-Pesa (pesa meaning money in Swahili). The system uses SMS to allow users to send, receive as well as pay bills with the platform. Kenyans are now able to pay for food using bitcoins.

While M-PESA has been quite successful as a payment platform, it is now becoming a system for other financial services in Kenya, such as savings accounts and you can even apply for loans with M-PESA.

Is this just the beginning of using cryptocurrency for betterment?

Crypto-phone

Conserving the eco-system using cryptocurrency

Carbon on Blockchain

“Digital assets can be a real tool for good,” enthuses Laszlo Giricz, founder and chief executive of Poseidon, a non-profit organisation that engages in forest conservation.

Poseidon Coin is a cryptocurrency that can be purchased or sold online through an open market. Every financial transaction we make has a climate consequence! Poseidon Coin makes carbon consequences visible by enabling a carbon value to be added directly into everyday products. They support companies in their efforts to reduce their carbon emissions, because this carbon currency enables consumers to participate through small everyday micro-transactions.

“The cryptocurrencies that enjoy media attention, for example bitcoin, are more akin to commodities like gold than anything else. Conversely, utility tokens allow the access of specific services on their given platform and can typically not be used for any other purpose,” he says.

This is just proof that cryptocurrency has the potential to change the world but not without your help!

Fintech tree

Crypto-Conservation

Considering South Africa is home to the majority of the world’s remaining rhino, it’s an alarming fact that almost three rhino are being killed per day, and we, South Africans, need to find a solution/s to solve this fact. This is where Rhino Coin and you come in…

The aim of RNC is to provide a sustainable source of funding to rhino conservationists, so that they can better equip themselves to continue their fight against poaching. Through your participation in the Rhino Coin environment, by trading Rhino Coin, you will help fund rhino conservation efforts, and further develop the expansion of the Rhino Coin dream.

As a Rhino Coin activist you are in control of what Rhino Coin’s history and carbon footprint will be.

Rhinos are an umbrella species.

“A journey of a thousand miles must begin with a single step.” – Lao Tzu

If you enjoyed reading this article, then be sure to read ‘Don’t Limit Your Power’ here.