RATE Group | Cryptocurrency Will Empower Poor Farmers and Vulnerable People
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Cryptocurrency Will Empower Poor Farmers and Vulnerable People

Cryptocurrency Will Empower Poor Farmers and Vulnerable People

Apr 22, 2020 at 13:20 // News

Cryptocurrency used to assist the unbanked

Various organizations are working with governments and other NGOs to assist the world’s poorest farmers by helping them sustainably boost production and have easy access to new markets through stablecoins and cryptocurrencies, hence growing their sales and incomes.


As agriculturalists develop their own businesses, one of the main hurdles they are experiencing is access to credit. Poor farmers who use traditional currency see large interest rates & loans from lenders which are very hard to pay back and this is stopping them from making sustainable livelihoods.


However, hyperinflation, hunger, poverty, lack of jobs, lack of access to banking, lack of capital and poor access to markets are some of the glitches that Bitcoin and other digital currencies can effectively answer. 


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