Most people believe that India is doing poorly in terms of economic growth, but the truth is that India is doing well in terms of earnings to GDP ratio. However, the general development of GDP is slower. On the other hand, most of the people go hungry, suggesting that the country is doing an excellent job of improving profits in earning people. So people’s income is generated at the expense of others who sacrifice their food.
The main reason for this is that India is creating a local rather than a globalized economy. Most of the people in India make a living from other Indians who live around them. This does not increase the local standard of living as the total value in circulation remains the same.
On the other hand, countries like the US, UK and other EU countries have companies that generate income for their economies by starting global businesses. US companies earn US $ 2.1 trillion from foreign countries, which is the same as India’s GDP. So the US earns the income that all Indians collectively earn from doing business abroad. This would be a daunting task for companies in India to expand across borders. The average VC investment in India is far less than that of the developed world. But these are all true when there is “no bitcoin”.
2008 – The most significant year in human history when people began to make a living from decentralization. Without knowing it, mankind began to understand that businesses and money markets are condensed. This condensed economy created a more accessible mechanism or flow of capital through pockets / nations around the world.
When people realized that scarcity was lacking, they thought it could be the gold of the digital world. In my opinion, gold is priceless compared to bitcoin. Gold has not affected life in any way and it has only kept the rich staying rich. But Bitcoin & Blockchain Could Affect Lives.
Blockchain & Bitcoin are two synonymous; Of course, they mean very different things, but I use them to represent the underlying potential of the condensed economy. The condensed economy could open the way for more new things. So how is it that India or any other developing country can improve their livelihood with Bitcoin or blockchain? The answer is simple: learn more about it.
When people do business internationally, the biggest hurdle is the flow of payments. Regardless of whether I am involved in legal or illegal trading, the flow of capital takes months. Another important thing in business is a trust that is scarce and less by words.
How is all of this stuff related to the development of an entire nation? As I said, the industrialized countries are a pool of globalized economies. Alibaba trades on NYSE, Infosys (Indian IT major) on NYSE, Tata Motors (Indian IT major) on NYSE. The spirit behind these companies does not come from the US, but from different parts of the world, but they could do business in the US and create a condensed economy. This was a huge hurdle to develop into a successful company.
Let me give you an example. We have three shops in a village in remote India and there is a textile shop, a grocery store and a theater. Everyone in town uses all three things. The textile owner makes money from the grocer and the theater owner and spends it on groceries and entertainment. The net growth of wealth remains 0; There is only one support flow, not an incremental flow. In order for an economy to thrive, it must play an important role in increasing the value of the nation.
With Blockchain & Bitcoin this is possible. People can open many new avenues for the external capital to flow into the local market, increasing the flow of money and leading to a better life. People get direct access to the international money markets, where there are opportunities to convert unused money into more lucrative income. The more people got involved, the greater the chance.
Most of the cryptocurrency markets are controlled by the stablecoin industry, which is USD on the blockchain. Developing countries can give their companies direct exposure to USD and allow companies to bring more dollars into their market, which will improve people’s standards of living.
The global economic consolidation through blockchain is not limited to the capital or money market. Even in agriculture, people can find new sources to supply their products. The rise of DAO on the blockchain would pay the way for efficient and smooth business conduct. The job markets could make their dreams come true with the help of blockchain. There is immense transparency and there is no doubt about doing business with anyone. Additionally, the blockchain has an internal financial ecosystem that helps the system improve more than anything.
This would make the work of governments easier, as people could work autonomously to generate their condensed economy and capital flow in global business markets. The way a country gets rich is by creating products that will be used by people around the world. Blockchain would lift these limits and make the services / products accessible to people from all parts of the world and open up new business opportunities. In the end it will make everyone a citizen of the world without fighting for borders, but for the globalized condensed economy. The revolution has already started and the name is “BITCOIN”