Hey Steemians!
Happy Tuesday! It’s been a while since I last wrote about DSES, partly also because I have been tied up with work and there’s really nothing solid I can write more about the upcoming initiatives.
Until today the Food Bank director shared with me an article she spotted.
Interesting (and quite horrifying) now in Malaysia’s economy prediction in the urban cities, to be in the middle income group range you got to be in the MYR 6.2 K and above.
Anything below 6K is under the Below Income group; and anything below 3K per household month it will be under Urban poverty range.
How is that so?
Simply because of the location, land prices are higher, rentals are higher, which will cause items purchased including food will be higher than rural area.
Moreover recently I just got news that one of my closest friends of 20 years is about to be laid off from work simply because her company is unable to cope with expenses as the market slumps further and no one is willing to spend that extra buck on price increasing expenses.
Many others, including myself, had our day job’s salary cut from SME (Small Medium Enterprise) companies when clients are not paying their due.
But obligations continues…
Mortgage, utility bills, travel expenses, insurance… some of them even if you want to sell it off and rent a smaller place for example, the rental premise could be even more expensive than your mortgage.
So imagine…
If there is no crypto opportunities at all, people would be devastated due to the fact that they are bound to only one source of income.
Even if you make multiple jobs (like my good friend in Australia who both husband and wife have to do 2 jobs just to make ends meet) it will still be tied to 1 fiat source.
And what if that fiat source, your government, is unwise with their management, corrupted, and crashes their fiat currency?
How certain are you to rely on foreign notes to sustain, how certain can you be that those other foreign countries of your choice will stay untouched and strong?
(Don’t forget many strong first world country leaders kept talking about the NWO…)
So why Crypto currency?
Since the blockchain is created through BTC as a naïve simple way to ease money transfer from one end to another quickly and without banking fuss (imagine those days when you have to wait for the next business working day), it has opened a new opportunity because it is influenced by how useful it is in the people’s eyes.
Steem blockchain (and Steemit platform) itself has proven that platforms can bring people together, and when people are together they have a voice, they have a choice to vote for the medium they can use for exchange.
In #teammalaysia we worked hard, (and still is) spreading this opportunity to the mass to see that cryptocurrencies like Steem can be an extra (not replacement) source of medium of exchange.
Just recently about a week (more) ago, when #teammalaysia had a meet up, and @zord189 didn’t have enough spare fiat change when we split the bill, chose a simple way of “You transfer me Steem instead” option that eases the pain of finding other people to change a large note into spare change.
Yes, no doubt that with the advancement of Banking security system, cashless options like transfer via QRCode by Maybank is easy, but that at this moment is still bound by transactions in the same bank name. Even cashless services like Boost and BigPay are the same.
And they are still tied with fiat.
Imagine if you suddenly overpaid your bills and you truly ran out of cash in your bank account; cashless services will not be able to help you without extra service charges.
Overdrafts will still bear interest rates charges.
How are you going to replenish those that are missing, if luck really runs out and you lose your source of (fiat) income?
And that’s why it is critical to expand your mind-set from treating crypto coins as a mere exchange stock to make more money out of it; into extra gateway of medium of exchange to help you get by monthly.
And isn’t this is starting to see some light for people in Venezuela for those who through Steem they are able to exchange back to fiat to get their monthly ration?
But that cannot be done by one person. This requires teamwork. This requires community.
Because (as far as I have observed) the strength of a crypto’s value lies in the eyes of the many, and not from one institution, or a mere few banks.
And if it stays in the exchanges, it will never grow into its full potential of its initial design. The ease of transferring wealth from one place to another.
What do you think? Would you open for the thought that having a local strong community that supports the idea of crypto currency to be use practically when needed, and create a parallel level of economy ecosystem among like-minded friends / family?
Until then
