Cryptocurrency: Creating Generational Wealth
The opportunity before all of us is huge. We are given something that we can all be a part of, for the benefit of generations to come.
When we see articles like this, we have to be encouraged. Africa is racing to the lead in terms of cryptocurrency adoption. This is going to bode well for those countries in spite of some serious technological challenges. Perhaps the adoption of digital assets will help that area too.
What we are seeing the possibility for creating generational wealth for ourselves and, more importantly, our families. The opportunity with cryptocurrency is literally ground floor. It is still unclear to most of us how powerful blockchain technology really is. This has the potential to disrupt most industries.
Money is a touchy subject to many people. However, wealth is something that we all should strive for. Sadly, there is a lot of programming tied to it, most of it negatively affecting us.
Cryptocurrency has the potential to positively affect billions of people around the world. For that reason, being a part of it means that we have a part to play in reaching that end. When something has that much of an impact across the world, the wealth that is created is enormous.
With crypto, the ability for the average person to share in the rewards is possible.
Africa Getting A Head Start
From the article linked above, we see this:
The local countries like Uganda, Nigeria, South Africa, Ghana, and Kenya are the ones of the top 10 countries in the world, that google for Bitcoin the most often over the past 12 months.
This is heartwarming considering this is the poorest continent in the world. Historically the site of massive poverty, cryptocurrency is being adopted in the early days. With this comes enormous opportunity for all across the continent. Fostering greater innovation will only take this to another level.
Money is at the core of our economies. Fortunately, with the development of the decentralized network-state, an ecosystem like Hive has the potential to reach hundreds of millions of people. Again, innovation will help to take things far. The early days are always riddled with issues. Those that persevere will benefit handsomely down the road.
Adoption rates in Africa are starting to outpace some of the other areas of the world.
With an estimated 7% of the Internet population using cryptocurrency, it is good to see both South Africa and Nigeria outpacing that by a significant margin. Even something as simple as storing some of their wealth in a stablecoin such as the Hive Backed Dollar (HBD) is an enormous help. This is a great way for these countries to gain exposure to the USD without the hassle of having to get the actually dollar. This can avoid not only theft, but a corrupt banking system.
Why is generational wealth important? Many are turned off by this idea.
The reason this is vital is to help others. When we look at the likes of Bezos and Musk, they are demonized for their wealth. The problem with this is they are doing things on a level few are. Anyone who matches their results should enjoy the same benefits.
How many people does Amazon employ? According to this, 1.1 million people in the US. The global operations have 1.6 million people.
Did you create a million jobs? Did you even create 100? 10?
What about Musk? According to Statista it is up to almost 100,000. Again, how many jobs did you create?
Of course, we could take this further by looking at their other companies. Both these men own, either wholly or in part, SpaceX, Washington Post, Blue Origin, and the Boring Company.
How many families depend upon those companies?
Cryptocurrency is the collective pursuit of this end. How many households depends upon Hive for paying the bills? There is no way of knowing but it is something interesting to think about.
What if Hive generated tens of thousands of millionaires? How would that change the lives of those people, especially in those areas that are traditional overrun with poverty? What could those people do in their individual communities.
Think of the Hive Borehole Project. At a cost of over $4,000 each, what if Hive collectively was able to fund 100 of them. What impact would that have across Ghana? Do you think providing local water to 100 communities in Ghana would be of benefit?
Isn't it interesting that the solution to 100 communities water problem can be solved, in great part, with money. If cryptocurrency creates generational wealth, that is something that Hive could do very easily. With a price of say $10 on the main coin, it would be roughly 400 HIVE to complete each project.
Also, think of the people employed locally if we could accomplish this end.
Whatever Your Passion
The key to this idea is to find what motivates you. Perhaps you would like to financially take care of your mother as she gets older. Maybe there is a special needs child in your family. Whatever the situation, generational wealth allows this to take place.
Marc Cuban is certainly a divisive individual. However, due to his development of an Internet company a few decades back, he become a billionaire. Do you think he is concerned how to pay for his mother's medical expenses if she has them (and if she is still alive)? Not at all.
Are you in that situation? What happens if you got a sudden expense for $10,000? Could you cover it? Also, how many lives are you changing with your money? Can you pay off someone's mortgage when the bank is about to foreclose on them?
For all you IPhone users, a special things needs to go out to Steve Jobs (and many others) for the time, effort, and overcoming challenges to bring something you take for granted. How many are grateful for the 100 hour weeks Jobs worked to make it possible for you to have so much power in your phone?
This ended up making Jobs richer beyond belief. It is also a product where we saw 2.2 billion sold globally. That equates to hundreds of millions of users that Jobs and his team directly impacted.
What if Hive touches 1/10th of that? How about cryptocurrency having an effect on 2.2 billion people? That still is only 40% of the global Internet population? What is the potential for change then?
These are factors that most people overlook. How fast would society advance if there was more money available to fund and invest in projects that radically altered the lives of people.
Whether it is drilling holes to bring dozens of people local water or making a product for hundreds of millions, all of this takes money. With generational wealth, each person is able to engage in projects like this. Ultimately, some break through to produce results like Apple.
Do not be surprised if cryptocurrency is used in research for things such as curing cancer. It is all on the table as this entire spectrum grows.
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