I long maintained that the poverty rates across the world will drop once cryptocurrency takes off. We are dealing with a new economic system that will help lift billions out of poverty.
The Age of Abundance is coming and @actifit is showing the way. It is a prime example of what crypto-economics is all about.
They posted a way to turn convert AFIT in Steem upvotes. As I played with some numbers, I came to the realization how powerful this is all becoming.
Before getting to what Actifit is doing, I wanted to toss out a couple of statistics. I believe they are a bit dated yet they do serve the purpose of what is taking place.
According to the U.N. more than half the world's population lives on less than $2.50 per day. At the same time, 1.3 billion live on under $1.25 per day.
https://www.dosomething.org/us/facts/11-facts-about-global-poverty
Keep these numbers in mind as I go through what Actifit is doing.
For those who are not familiar, Actifit is a Steem-based application that rewards people for moving around. Anyone can earn AFIT tokens by getting a minimum of 5,000 steps in per day. Essentially, this can serve as a form of a basic income for people, especially those in the dire circumstances I just mentioned.
Looking through some accounts, it appears that one who participates regularly can earn around 50 AFIT per day.
The team set a price of .036 STU per AFIT. Using a price of $.393701 per STEEM on coinmarketcap, that means the payout, per AFIT is $.014.. Earning 50 AFIT per day is roughly 71 cents.
While this is not a ton of money for most of the world, for the 1.3B people living on less than $1.25 per day, it is a 57% increase. How would you like to earn 57% more on a daily basis than you do now?
EDIT: @mcfarhat told me the payout is $.036 in USD, not STU. This means the 50 AFIT is worth $1.80. This makes a significant difference for those at the lowest level in our world.
We also must remember, this is one application on one blockchain.
This exemplifies the power of crypto-economics.
While the transition from AFIT to STEEM via the upvote is a bit of a pain at the moment, it does show the possibilities that exist. We are only going to see this get easier as exchanges are set up dealing with the conversion of the different tokens
The system Actifit set up is a three step process. I will not go through it all since it was spelled out in their post.
We are starting to see the potential of cryto-economics in action. One of the things I love the most about the Steem ecosystem is the ability for people to acquire tokens without having any fiat to invest. When dealing with the plight of most of humanity, few are in a position globally to buy cryptocurrency. Hence, we see the reward system as an entry point.
One of the strongholds of fiat currency is that it is what people are paid in. Therefore, people use it since it was given to them. As we see more applications rewarding people in cryptocurrency, that is going to be the mechanism people start to use. Eventually, we are going to see a portion of our monthly expenditures satisfied with cryptocurrency.
There is a lot of discuss about technological unemployment and ideas such as Universal Basic Income to solve the problems. Here we are seeing how cryptocurrency can serve the same purpose without beholding anyone to the government.
By providing an alternate system, we can start to take power away from those entities that have been enslaving humanity.
If you found this article informative, please give an upvote and resteem.
Yeah! Long awaited and now reality. I am so happy I sticked to actifit and do my constant posting (and doing sports of course) since July 2018.
Honestly everyone should join actifit and get moving.
Move, get fit, healthy and earn with every step you take.
This article from @actifit made my day. Such great work from them. Thanks for expounding on it.
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It is a real milestone for actifit and for all, who are participating.
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Great post and great news from Actifit. However, there are things we really need to consider. There are things considered basic that are not basic in the third world and which makes using actifit may be a bit of an uphill task.
Mobile phone, it is not basic, in some families they only have one or non at all.
Internet is very expressive and many can't afford it, that is why you find cyber cafes where people go to and pay to use internet service just to check if they have an email.
Another challenge is power supply, you either have irregular supply or non exciting supply which means powering your phone is a problem.
Availability of phone service, I lot of people live in the hinter lands where there is no network services on the phone.
Cost, the cost of earning $1 worth of actifit reward might cost you $5 as you can see, it then makes no sense to try to earn the $1 actifit reward.
While I am not saying it is a standard for everyone in the third world but most of the people living below the porvety Iine are facing these challenges. If they can't afford a standard meal definitely they can't afford a phone and other things that go with using actifit. Thanks a lot for your post, it is still something the world can work at.
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Perfect. I was about to post all that and you said it all. How is it that everyone can not think of this. This reply you have here would make an outstanding post. Someone not everyone has their eyes open and their thinking caps on. I do not think I would have been so eloquent. So better you. Great reply. !!
Whoa. I did a smallish delegation to @actifit eight months ago and left it on autopilot. That and some Actifit posting means I now have over 43,000 AFIT tokens, convertible to 1,500 Steem unless my math is off. SMT-workarounds are starting to look like real game changers.
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Woah, that's neat!
Yeah, we are still early adopters doing actifit. There certainly is much more to come!
Super cool!! That's awesome ☀️🎶💪
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Excellent article. I started using Actifit recently and this is a spectacular development. It also sets a floor for the tokens which is something that a lot of coins out there don't seem to have. They're all in the basement already and still falling.
I am glad you joined actifit. You won't regret it. It is a great community too, helping each other to prosper.
Eheheh. I just wished I didn't have to walk around with two phones all the time - my main phone is a Microsoft Lumia. 😉
Just get a steptracker from fitbit. You even can purchase a cheap one at ebay. I use the fitbit Alta, it did cost less than 30 $ and it works just fine. You do not have to carry your smartphone around all day. Just synchronize your steps with the actifit-app at the end of the day and post your results. Very easy.
Best of all they're free market UBI solutions. What gets most people off of UBI is the fact it relies on the Government...
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You've been accordingly rewarded 200 Actifit tokens, as well as an Actifit upvote.
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Excellent work! Congratulations to @actifit devs for their work!
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I'm really excited about this new feature. I've been delegating to @actifit for months so I have a decent sum of AFIT tokens to convert. Still not sure whether I want to HODL them until SMTs start up.
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I just delegated them 10k and then find your post.
Poor countries will adopt and spread steemit blockchain not the rich.
Westerners just bitching and complaining. And trying to bring democracy to the rest.
Sounds familiar?
And maybe 13 billion in
your UN quote is missing a dot.
Yes...thanks for that...corrected it.
I agree the push for Steem and crypto in general will come from the poorer nations.
I was also pleasantly surprised with this announcement from @actifit as it demonstrates that things are definitely starting to accelerate towards an age of more abundance rather than scarcity as you often allude to! The fact that the ecosystem has been able to do this proves the value proposition of blockchain technology!
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#solutions
I do wonder how they will pay out all that steem since people gathered quite some actifit tokens 🤔
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Nice I honestly didn't know they could be exchanged lol
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I love the idea of actifit and all, but have one major problem with their android app. If I force close it, it stops counting steps. I've used other step counting apps in the past but closing them doesn't affect them. Really wish they implemented that feature too.
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Upvote and resteemed. I've started today with actifit and I think it's a great initiative!
I actually used this already. It is really cool to be able to use all these tokens I have for something!!
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I agree 100% that this was a great feature they made for us! I’ve already done it once and it’s great!
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