You are viewing a single comment's thread from:

RE: SMARTCASH presents at the UN Humanitarian BlockChain Summit in New York

in #smartcash7 years ago

Your humanitarian work is going places when you're invited to speak at an event involving the United Nations in collaboration.

"In humanitarian work, the problem of the last mile or, “how can you assure that your products reliably go the last mile all the way to the beneficiary?”, can be a big obstacle to overcome. "

The first thing coming to mind was the hyperinflation going on in Venezuela and how cryptocurrencies "have the potential" to be more upward stable then fiat currencies which generally lose value overtime due to inflation or hyperinflation, whereas cryptocurrencies have great potential for deflation.

Moreover, cryptocurrencies have the potential with coin-burns, cryptowallet lose (etc...) to increase in value for hodlers overtime as opposed to fiat currencies which almost invariably lose value (even when money is lost), so that those who save benefit overtime would see their funds grow in value. Yet if you put your money in the bank at 1 or 2% interest, inflation alone is higher than the banks paltry rates.

I think the smartest thing SmartCash did was not have insanely high interest staking. I noticed currencies like Embercoin, B3 and many others offer/offered hyperinflated rewards to people who stake the currency, resulting in the value to plummet toward almost zero. For instance, you can no longer buy Embercoin on cryptopia using BTC. That's a sad fate for a cryptocurrency. It's finally becoming clear to me that high max circulation and high staking rewards are an obvious recipe for disaster.

Congrats on your good work and I hope to see the day where the SmartCash logo is at every major humanitarian event.

Coin Marketplace

STEEM 0.20
TRX 0.25
JST 0.039
BTC 97542.75
ETH 3458.83
USDT 1.00
SBD 3.15