How can Ethereum make a difference in the world

Posted by LucyBTC on 19/06/2017.

In: cryptocurrency news Ethereum Bitcoin blockchain financial

Ethereum cryptocurrency

We’ve all watched pretty helplessly the recent developments in major cryptocurrencies, we’ve seen the red arrows and we’ve intensely debated as to why and for how long this might take. As you already know, on June 15th there’s been a major market correction when the big coins abruptly fell off the charts, just after they had a big boost in the days before. This unfortunate and somewhat mysterious phase has brought up many concerns, as well as many theories. Although experts haven’t reached a clear conclusion and estimations or prognosis may seem irrelevant, what’s important in our view is how cryptocurrencies have already made a difference in the world and how it will continue to do so.

Ethereum has always been considered much more than just a cryptocurrency, but rather most importantly a means for fast payments and help channel offered worldwide, a platform for easy exchange and an innovative tool for the future. For instance, the UN’s food programme has been using Ethereum Blockchain for transferring vouchers to refugees in Syria. The funds have been sent with the help of a startup company called Parity Technologies, led by Ethereum co-founder Gavin Wood and it successfully transferred food vouchers to over 10,000 people. This is one major example on the impact of the blockchain and how this technology can fasten the transactional flow and come to the rescue of victims of war or hunger.

Due to the ETH progress in the past months, many consider it even soon eclipse BTC, as it seems to receive a lot of support from several financial communities, companies and world organizations, all of which are starting to see and use the coin’s huge potential. Crowdfunding platforms are another good example of using Ethereum’s smart contracts for enhancing transparency and data transfer. All eyes on Ethereum, we’re all observers or active participants to a new world being built, let’s hope it will be a better one.

 

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