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Author: @El Crypto Chapo


Digital Poverty

The world is filled with people living in digital poverty.  If you hold even a small fraction of a BTC you are among the elite when it comes to being crypto-wealthy, as the vast majority of the population has a big fat zero in their non-existent wallets.  If you’re reading this, you likely already see the merit in blockchain technology and digital assets…but there are few people that have seen the light.

I frequently talk crypto with friends, family & coworkers who are “normies” and “nocoiners”.  I try to be politically correct and label them instead as “digitally poor”.  I hear these types of questions frequently:

“You’re into that stuff?  You’re crazy.”

“Why does it matter?  Money is already electronic and digital.”

“I heard that’s a scam.”

“What do you use it for?  Are you actually buying things with it?”

Many more questions and comments that radiate skepticism pour out of these folks, but there is typically a hint of genuine interest in what it’s all about as well.  It’s as if they want to believe, they want to join the party, but they just can’t wrap their head around the concept and convince themselves that they’re not being played. Blockchain technology is complicated, confusing for those who have heard of Bitcoin and don’t understand why there are 2000+ other cryptocurrencies.

How to End It

When the topic of crypto comes up, I always wish there was a way I could give a person all the knowledge I’ve gained over time via a quick download.  Like Neo in The Matrix, “I know Kung Fu” could turn into “I know crypto”.  As futuristic as the blockchain space is, unfortunately I don’t see this becoming reality any time soon.

With that being said, I’ve always been focused on educating the community.  Most times you have a short window of time to arm these digitally poor souls with some insight that will welcome them into our community and pique their interest to learn more about how blockchain will revolutionize our world over the course of the next few decades.  To take advantage of these opportunities you need to have an “elevator pitch”, a quick explanation of what we’re all so damn excited about.  I thought I’d share mine to provide a framework for the next time you have one of these opportunities:

 “Blockchain technology is powered by cryptocurrency, so as a starting point you have to realize that the two are tied at the hip.  If blockchain technology usage takes off, cryptocurrency usage will inherently follow & will drive increased value. So what exactly is blockchain?  It’s the next layer of the internet.  Blockchain technology relies on the world being connected to exist.  The world wasn’t fully connected until around 10 years ago, which ironically is when the first blockchain ever (Bitcoin) was created.  Back in the early days of internet and email, there wasn’t much value in it because only 1 in 100 people actually had an email address.  As more people saw the value in it and adopted email as a way to communicate, it became more useful over time.  This is called the Network Effect.  At its core, blockchain technology leverages the fact that we are now a connected world and allows us to do things that were never possible before this worldwide network of connected devices existed.  Just a few examples of what blockchain can provide:

-Worldwide currency

-Eliminating middlemen

-Reducing cost of goods & products

-Identity protection

-Fraud prevention

-Lower utility costs

-Efficient supply chain management

-Verifiable record keeping

-Enhanced digital security

And the list goes on and on…the possibilities are endless.

The Student Becomes the Teacher

How would you answer if someone asked “What can you use the internet for”?  The question sounds silly, you could spend the next 100 years providing an answer.  As a society we have continued to find more ways in which being connected can make our lives easier and make business processes more efficient.

We’re just scratching the surface of how blockchain can help the world and some of the smartest people on earth are thinking of new applications every day that will leverage the concept.  I’m a part of something on the ground level which will be an integral part of all our lives before you know it.

If you want to learn more, do some reading.  This comes with a disclaimer, however: The more you understand, the more you will question.  Once you step through the door, there’s no turning back…but you’ll never regret it.” 

I challenge all of you to show people the light, spark interest in the digitally poor and educate the world around you.  Do your part in speeding up the rate of adoption.  We all have a responsibility to be good stewards of a community which will change the world as we know it.

Also published on Medium.