It is true that the ever-growing cryptocurrency industry has enabled millions of people from all over the world to generate income, at a time when the world economy is going through a massive crisis. Millions of jobs were lost last year due to the ongoing lockdowns, and unfortunately it doesn't seem like we will get out of this mess any time soon. And even if we do, there's no magic button to push and bring back to life all those businesses that have permanently shut down. It's sad but true.
However, there is light at the end of the tunnel, as the crypto space keeps growing and offering all sorts of awesome opportunities to earn money from the safety of your home through a wide range of activities, be it blogging, tipping, curating, staking, mining, consuming content etc. There's a plethora of options, and we are just getting started. I can't imagine what we will build around the blockchain technology in the near future.
Unemployment is rising along with inflation, and as a result, consumer spending is at comparatively low levels. Regardless, I personally believe that the message portrayed by the chart is not a very accurate one, because crypto is still underground. This basically means that the study conducted by the IMF doesn't take into account the amount of wealth generated in crypto, and I'm pretty sure it has already been life-changing for millions of people around the world.
The study also excludes all those job openings available thanks to the crypto game, and the positive impact they have had on local economies by enabling individuals to buy groceries for their families with crypto money. What's even more interesting is the fact that the amount of job openings in crypto is growing exponentially, which serves as evidence that we are now heading towards an era of abundance powered by the blockchain technology.
Now, don't get me wrong, I'm not saying that crypto has created millions of new millionaires out there, but you don't have to become a millionaire in order to change your life for the better. There are many countries in the world where a hundred bucks translate into a fortune, and those places in particular have benefited the most from this emerging crypto economy. There's hope thanks to crypto, and this is something that the powers that be can't take away from us.
Let's not forget that we are talking about an industry with a total market capitalization of $2.2 trillion. That's like 10% of USA's GDP, and we've been around for less than 12 years. Let that sink in.
By September 2020, every advanced economy had fallen to recession, and as the months go by, it's becoming increasingly clear that countries will have a hard time bouncing back. This leads me to believe that the crypto revolution of our days couldn't have come at a better time; central banks and governments will soon realize that this is all a huge opportunity to produce and distribute wealth, and one that we need to take advantage of.
As a matter of fact, governments need everything the crypto space has to offer. The establishment is dying. The crypto game is proving to be a powerful tool we can use to boost development and generate more resources, which in turn will help us overcome the obstacles we are currently faced with. The possibilites are endless; there are no limitations.
Some of the smartest people in the world are working in crypto, creating tools and technologies that will solve problems that have been stalling our development as a species for centuries. We've got some of the brightest minds brainstorming, writing code, cooperating with like-minded individuals, producing innovation. We can't fail. What's even more important is the fact that everyone can be part of this collective effort.
You don't have to have any extra funds laying around to invest in the game. All you need is time and energy. If you can devote your precious time to producing and consuming precious information, you will be in for a big surprise down the road. They say that time is our most valuable asset, and it has never been easier to exchange it for resources. Power to the people, that's what the blockchain technology is all about.
Alright guys, that's it for now. Thank you for taking the time to read those lines.
Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.
Stay safe and have a good one,
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