How To Get The World Using Crypto?

Nimiq explores in-depth approaches to crypto adoption in developing countries.

A case study plan has been developed by Nimiq and TotalCrypto.io to advance mass cryptocurrency adoption. With the help of the cryptocurrency and academic communities, the goal is to explore if cryptocurrency can power a scalable, inspiring solution to provide a new way forward for people most let down by their current fiat economy and limited access to banking.

Team Nimiq, an ambitious browser-based blockchain project, has sponsored a case study plan to explore mass cryptocurrency adoption. This is an open source document which invites anyone to develop their own crypto adoption methodologies.

The concept is to create a scalable and repeatable way to encourage cryptocurrency adoption in communities facing currency and banking issues, with the ultimate goal to increase levels of wealth in their local economy.

“Many of the world’s problems are inextricably linked to human development issues. People limited with options, particularly when faced with banking challenges, are more likely to exploit the natural environment around them or turn to crime in order to provide for themselves and their family in the short term.” states Team Nimiq, continuing “which is why the idea of exploring this real world impact potential beyond the speculative value of cryptocurrency is so important”.

“Can cryptocurrency power a scalable solution to provide a new way forward for communities? Finding an answer to that question is what we want to encourage”

It is proposed that the deployment of the case study is made up of three key components:

1. A local exchange: To swap local currency for cryptocurrency and back again. It is also recommended that the exchange acts as a crypto information center for the local population. 

2. A real-life crypto airdrop: The idea is to sow the seeds of free enterprise and empower locals with the choice of how to spend their crypto. This airdrop would act as a one-time stimulus package for the local community. 

3. The Incubator: Aims to promote local economic growth by supporting locals with the ‘know how’, tools and resources to create online businesses and compete in the global economy.

Such a plan would be anticipated to be executed in collaboration with the academic, charitable, entrepreneurial and cryptocurrency communities to achieve the following: 

  • Show that cryptocurrency can be adopted by an entire real world community.
  • Attempt to raise levels of wealth within the local economy.
  • Promote academic research on the macro and wider implications of cryptocurrency adoption.
  • Leverage the case study and challenge the mainstream misconceptions that ‘cryptocurrency is only used by criminals’ or that ‘cryptocurrency does not produce anything useful’ by establishing a practical positive impact purpose.

This plan has been developed by Tom Alford of TotalCrypto.io, an independent cryptocurrency consultant and a plan overview can be seen here.

The proposed plan aims to provide academics with the necessary data to study cryptocurrency adoption and play a key role in shaping the case study methodology.

Contact: Ricardo Barquero | Email: press@nimiq.com | Website: nimiq.com