There are a couple things brewing that could help crypto in a big way.
In this video I discuss how confidence is vital in financial matters and default is a problem. We are seeing a lot of headwinds with some debt, especially in Europe. This could couple with people losing confidence in government all over the world. This is a situation that was brewing over much of the last decade.
Here we try to uncover how this could benefit cryptocurrency.
▶️ 3Speak
I haven't really heard of municipal bond defaults. How often has it been occurring?
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Yeah for things like charter schools and water plants.
It is starting to happen. I foresee that taking place in some of the poorer cities that are seeing an exodus of people and businesses. They are going to really feel the pinch.
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Ending and starting the day with Hive. ^_^
While listening to your talk about the sovereign debt crisis and the collapse of confidence in government, something came to me. Its about common people's access to credit. I don't know the situation in the US, but here in the Philippines, ordinary people like me does not have access to the credit market. Yes, they can lend you a minimal amount. At least you can start with $100.00 with a 5% monthly interest, but I am not talking of such amount. For me, a credit of $2,000.00 is a good start. Just curious if there is already an existing Dapp either on Hive or in crypto space in general that gives low income people access to credit market using their digital assets as collateral.
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Nothing I know of on Hive yet although there might be some projects people are working on. There was something called Hiveloans that did not make it out which was going to allow people get loans using their Hive Power as collateral.
You are right. This is one of the biggest issues globally. Credit is not available to most people in the world, which is stunting global productivity. A lot of small businesses are either not started or cannot expand because of this.
Hopefully that is something we can solve with cryptocurrency. It is not so much crypto as the platforms we build out to help people.
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I already lost confidence in the government of my country (Hungary). They intentionally keep most of us under the local minimum wage. And our currency is close to worthless. 1 Hungarian Forint (HUF) is currently $0.0032 USD. And we are a member of the European Union (EU) since 2004. Huge shame on the Hungarian government.
Sadly you are not alone in that. We see that happening a lot all around the world. The political establishment along with the bureaucrats have betrayed the people. They operate solely in their own self interest, ignoring the mandates given to them.
We need to create another way. This is something that hopefully the crypto ecosystem can help to solve.
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It's some small details and economic problems that have been piling up for a long time without a fundamental solution.
I think you are right it is always a question of confidence. The confidence in governments is failing.
It is already failed in many places. For example just take a look at Hungary. And not at the propaganda.
I keep wondering when the lack of trust comes back to haunt them.
fondly remembers Too Big to Fail, Weapons of Mass Destruction and 2 Weeks to flatten the Curve.
Some simple people will react every single time.
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All valid points.
I think it is a progression that keeps building. The media, the mouthpiece for a lot of the lies, is starting to be questioned by more than just the conspiracy, lunatic fringe. Now there are many in the center who are starting to question the legitimacy of the entity.
That means they are also questioning the message. It is a cycle, at least in the US. We went through a period like this more than 50 years ago. At the core was the Vietnam War but it was our relationship with government that was at issue.
Another decade similar might be in the cards.
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