As we always like to say, cryptocurrencies are the future. For the last decade they have shown strong presence and growth and that seems to be a trend of the future.
One of the reasons cryptocurrencies have such a big impact on our lives, is the economic freedom they bring with them. Well, this was one of the main reasons they were created in the first place. We can not deny that cryptocurrencies have the ability to solve many of the problems of the current financial system.
Before we talk more about cryptocurrencies and how they help us reach economic freedom, let’s have a look at what exactly economic freedom is.
Actually, economic freedom depends on 12 factors:
It is important to say that the last factors can not be directly improved by cryptocurrencies. Well, the others can be improved. The reason for that comes from the properties crypto has.
It is a global, open network
As we already said, cryptocurrencies were created as an open network, available for everyone, everywhere. It removes all barriers and borders and allows everyone to make transactions on shared networks, as easy as it is to communicate on a shared network. Furthermore, those networks are not under control of governments. The result is an open market, trade freedom, freedom of investments and of course, financial freedom.
Property rights are enforced by cryptocurrencies
Before crypto, property rights were a function of the government or banks. Well, cryptocurrencies allow people to save their income, to trade, to invest and to grow their wealth, without the intervention of third parties or the fear of seizing. Moreover, cryptocurrencies give the ability to enter contractual agreements, moving enforcement to the blockchain.
Cryptocurrencies are independent
As we already said, cryptocurrencies do not depend on any third part. They are open and absolutely unbiased. Most crypto networks are absolutely anonymous, and it doesn’t matter where you live or what you do for a living. All you need to have is an internet connection, and you are free to create your digital wallet, receive crypto payments or make crypto transactions.
Crypto makes you mobile
One of the main benefits of cryptocurrencies is the mobility they provide, by reducing the costs and allowing people to send and receive assets all around the globe, with no time and low cost taxes. Cryptocurrencies cut all financial barriers and with this brings the economic freedom everyone is talking about.
As we said at the beginning, there are several factors that can not be impacted by cryptocurrencies. However, we can’t deny that there are factors that can be directly impacted by crypto and with that we can receive economic freedom. This has a huge impact on countries that don’t have such freedom, as it becomes easier to reach a better life.
And while many countries have banned the usage of cryptocurrencies, for one reason or another, there are others that are welcoming the crypto adoption. With that in mind and as a conclusion to everything we said, we believe that cryptocurrencies were created to be the key for economic freedom, and they really are.
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