Hive Is Powerful In Developing Economies
The economy is Sucre is the Hive economy.
As of last night, there are 21 businesses in Sucre, Venezuela that accept payment for goods and services in HBD and $HIVE. This is up from the 13 just a couple weeks ago.
While this might not be an overwhelming amount, we have to start somewhere. The key to transactions is getting the currency moving around. Unfortunately, these are first layer activities. The Hive economy will really start to thrive once we reach the second tier.
Sucre provides Hive coins with a powerful use case. We fill a need where there otherwise was not a terrific solution. HBD is shaping up to be something that can really help the residents in that region.
The advantage to Hive is we can build things organically. All of this is grassroots. We are completely dependent upon community. Regardless of the aspect of the ecosystem we focus upon, we can see where it is up to individual members to "take the bull by the horns". This requires a shift in mindset as most are accustomed to letting others do things for them.
With this, there are no others. If you have an idea, get it done. It is really that simple. Even if you, personally, do not have the talent, start talking to others. Writer about it and enlist those who might be able to assist in bringing it to fruition.
This is where Hive can excel. As we tap into more markets, we can see different components of the Hive ecosystem expanding.
The combination of social media and finance cannot be overstated.
With an area like Sucre, there are two factors to consider. The first is to get money into the local economy. After that, the key is to keep it there.
Here is where the two layers enter.
So far, the expansion is in giving people areas to use HBD. With 21 different locations accepting HBD, individuals are able to use the coin for payments. That is phase 1.
The question, however, is what happens after that?
Most likely, the HBD is moved to an exchange and swapped for another currency, either the Bolivar or [USD](https://leofinance.io/@leoglossary/leoglossary-usd0 (probably the former). Therefore, we see the money exiting the local economy.
We enter the second phase when the merchants realize the value of holding HBD as opposed to swapping it to the local currency. Of course, since bills have to be paid, this means these individuals have to be able to buy for the goods and services they require also.
Economists try to chart this through the idea of velocity of money. This is really a simple formula. It boils down to the amount of money in an economy and the number of times a unit of the currency changes hands over a certain period of time.
HBD changing hands once and then exiting the economy is not the ideal. For the Hive economy to expand in that area, it has to keep moving around through different generations.
People Open To New Ideas When Hurting
The reason why Hive can make a huge difference in developing economies is because of the circumstances that are present. Whether we are discussing Venezuela, Nigeria, Cuba, or India, many are struggling. The economies are suffering in different ways, especially when we break it down regionally. People are having a tough time with corruption, broken trust, and a lack of opportunities.
Hive can offer a solution.
In many ways, this ecosystem still abides by the core tenets of cryptocurrency. Dating back to the days of Satoshi and the Bitcoin white paper, we are carrying the idea of decentralization and removal of the traditional power players forward. This means reduction (elimination) of gatekeepers.
One of the biggest benefits to this is the ability to truly bank the unbanked. We can do this in a digital manner which means less dependence upon banknotes. It also gives people in these localities access to a larger, global economy.
In the developed nations, it is difficult to get people to look at Hive. People, for the most part, will not change unless they have to. Ultimately, much of the developed world is comfortable. This is not the target audience.
The people in areas such as Sucre are a different matter. They are willing to look at things and learn then, simply out of necessity. Human creativity and ingenuity is required since they tend to be failed by most institutions. It is where grassroot movement comes in.
This is Hive's target audience.
Low Barrier Of Impact
We tend to take for granted how much a single vote can make in the proper situation. There are people in this world where a couple dollars makes a major difference. It is a fact that many overlook.
There are many countries where the average salary is miniscule. When we have people making the equivalent of a few dollars per day, this shows the barrier of impact. Get a few dollars heading in that direction on a daily basis and we can see a marked improvement.
It we move this to the collective level, and push it to thousands of people, we can see a region transformed.
This is the potentiality of hive.
My view is that Hive will be an ecosystem that is worth billions in the future. That is a fair bit of value spread throughout the world. The effect in developing nations, if they are the ones who help build Hive, can be enormous.
For us to do this, the only requirement is for people to get involved. Social media allows entry with just a Hive account. After that, one simply takes part in online activity. Since we monetize most aspect of the ecosystem, there is value being captured in coins and tokens that end up in people's wallets.
As Sucre is showing, there only needs to be a few motivated people in the area and the movement can start.
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So basically, phase 2 would be when you are able to pay your bills and groceries without ever exiting the Hive ecosystem, right?
How would that affect the country itself? I feel like at that point they could declare it legal tender.
No. Phase 2 is when the merchants are able to use HBD for what they need.
The ability for individuals to buy stuff is the first phase.
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I'm sorry, but isn't that the same thing, only the scale is bigger?
For me, being from the capital city, I think it's great, I hope other businesses and services will accept this form of payment.
I totally agree with this
It is future and in near future all such payments will regulate as soon as ...
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Well, the part about the merchants who have begun to accept the #HBD or #Hive as part of payment and keep it in their respective wallets is complicated because how do you have to pay the suppliers and up to now they only accept the majority the Dollars $ and thus cover a bit of how volatile the Venezuelan economy is. I live, let's say, near the Sucre state and I hope that this wave of growth reached our city.
Small steps forward. Indeed, we do have to start somewhere. I'd love to see something like HiveList really take off and make a peer-to-peer marketplace with a variety of goods and services a reality.
It'll be exciting to watch the process... and see where this all is, in 10 years from now.
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Hello brother, yes, here in Sucre Venezuela we have made great strides. 21 businesses that accept hive and hbd in its first stage is something wonderful, even more when this economy comes to solve in some way many needs of the people of Cuman. We have hardware stores, construction companies, barber shops, Creole food, pastry shops, hotels, bodegones where we not only acquire liquors, but also food. And stop counting.
The idea is, as you say, that the currency circulates and does not leave the wallet, this implies that businesses can pay their suppliers and these can pay their distributors. There is a long way to go, but we have started and we are not going to stop. There is HiveSucre for this. All with zero commissions, a hug.
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After a couple of weeks, from 13 to 21 businesses using #HIVE and #HBD? That's really impressive. If this will continue and is replicated in other places, I could not imagine how big will it be.
Coming from an educational institution, I am thinking of forming a community with its own token and also as a way to onboard students and my colleagues on Hive.
This is really an accurate assessment.
Thank you also for clarifying Hive's target audience.
A privilege indeed to become part of it.
The power of a Hive account!
Since the incentives are micro, many still don't see the future potential of these tokens being distributed daily.
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I saw the crypto maniac's podcast and I think it's quite amazing. They get merchants to accept HBD and allow them to get the dollars (which are in short supply). If I remember correctly, they use Binance to get the dollars out. I think their next step is to get the suppliers to accept HBD and if it works out, then it can spread out even further.
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Importance of hive hbd leo decentralized and crytocurrencies adoptions
#hbd and #hive are highly needed worldly to be able to counter-attack and fight against total control if the schwab scholtz vonderlayen macron decide with biden to exercise total control on us with
1/ Confiscations of our savings money and salaries to pay for the debt of 3000 billion euros for France only
2/ Setting up universal salaries is a good way to buy us
3/ Perishable money making savings and credits impossible resulting in no house car or anything. As Schwab says they will have nothing and that's normal??
4/ Points systems for controls of all and their facts and gestures willed by these centralized banks institutions and politics mafias the rotten part of the 1 per cent.
The implementation of HivePay at a high scale here there and everywhere is a good thing for us, for the #hive, #hbd, #leo, commerces, services providers, and all businesses that want or wish emancipation from centralized powers
The acceptance of utilities bills are not the main and only ones, all can be payed with @hbd @hive @leo and others from the Hive if people understand the urgency or emergency of keeping the hive and hbd and others as if they were fiat. When the centralized powers decide to apply their PLANS, they will not ask the people if they have enough savings as they will confiscate assets to pay their debts in France for example.
Local economies need to start worrying about changes that happen like the covid or compulsory vaccinations to babies and pregnant mothers, if they do that they can do worse and they did and do worse at the time he writes this as they know before the typing these assholes. people need to agree to the fact they need to hang on to this cryptomoney rather than the EURO in France, gold silver stones etc is also good but solid not in banks or institutions, If one buy gold or silver he needs to test purity and in the purse to go wherever NO PAPERS!
Stick and adopt the hive hbd leo and other cryptos decentralized and avoid changing it towards centralized banks except for minimum needs.
Shops handcrafts bakeries supermarkets before water gas electricity bills to the ecosystem to become autonomous needs to be interesting and it is primordial when the concepts are understood and anticipated. The adoption will follow as we followed in France when it wasn’t the banks that converted French Francs to Euros but the task was the hyper supermarkets the commerces and shops. We can do that with the Hive.
The pain is not only for Venezuela, Nigeria, Cuba, or India, where many are struggling as they are beta countries or countriees where tests are made and the poor are the ones who suffer. The pain is in countries all over the world where this force power and wealths owned by criminals is exercising and France UK and others do suffer from these people, plasma blood and organs from kids and adults, slaves are imported and exported to and from UK as an example, is that bad enough? Corruption mafias are powerful in the producing and earth wealthy countries but mafias in the European Germany Belgium Holland countries are distributors all over Europe and the UK, the producers are nothing if no distributors, if lots of cocaine and no macronistas and co to buy in France, there is no mafia in France because all mafia trades are connected tied the ones to others and allied much more than what countries are supposed to be allies or aligned. French are really zealous in putting down other french, really good in telling the French people Lemaire that he will have Putin and the Russian to kneel in front of the macronistas, trying to get the french kneel the macronistas have signed for their end. BUT THEY NEED TO STOP REPAIR AND DISAPPEAR FIRST!
The people from developped nations might look comfortable but only in France of 68 million inhabitants more than twelve million poors plus the pme tpe and handcrafters, doctors teachers professors paramedics firebrigades being sacked unneeded abused diminished by mafias the convergence of these countries might be faster than we think. Particularly when economists financial advisors and councellors are themselves treating mafias are corrupted financial banks and instuitutions as the bank of France the BCE the World bank the ONG the IMF OMC OMS all regarded as they are and not as will to be seen by the puppeteers. And we don’t want to get the puppets we will get the puppeteers to stop repair and disappear with their tech metaphysics biotech AI IoT machine learning data procesing and analysing the garfem Google Facebook and F… that we also have these and not against the poor the weak or the silenced to win, by squashing but by being better! We win not by destroying jalousing envying abusing we win because we are better! The loan sharks and corrupted mafias gatekeepers will be replaced by the oones honest straight and reliable that have always been there.
The couple or three dollars a day wages countries exist and the potential of willing creative hard worker is just amazing like in Thailand but they are held by mafia that have all meta tech bio biotech ai IoT and money and wealths and powers to maintain the poor poor and the weak weak. Nothing stops from redoing projects with planifications of microcredits the Hive way with hbd leo and so on cryptocurrencies, but trhee mafias and corruptions are high in power and mass muders or serial killings of Thais lisu or hilltribes and foreigners isn’t bothering the locals mafias as long as it brings something to them. NOT THE POOR AND THE WEAK, THE MAFIAS THE CORRUPTED THAT MAINTAIN THE POOR POOR AND WEAK WEAK IN THAILAND, deliverance from these perverts sadistic persecutors will free thailand and its inhabitants even if like anywhere mafia is intertwinned with all close or further.
Monetizing most aspects of the ecosystems is the way lead by emerging countries in Africa South America in India but in Thailand Myanmar and SE Asia and Asia and Europe France and the rest of the world too!
This is fantastic news. With v4v.app, people in Venezuela can easily convert $HIVE & $HBD to $BTC, which has far more acceptance than $HBD at the moment, but, also provides a way for people to diversify and spread their risk around, rather than solely holding their savings in $HIVE or $HBD. I am all in favor of keeping the value in the Hive ecosystem, though, because that's where the real growth will take place. Bitcoin layer-1 is too slow and expensive to use for everyday purchases like at a grocery store or c-store, while $HIVE is instant and free, which really makes a difference in developing countries where credit card companies and banks prey on the people through high-% interest debt.
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That is not new but i have mixed feelings about it. I don't want people to just suck off the value of the token. To be a circular economy they need to save and invest into the token. I think there should be more staking activities promoted on these countries.
I don't think people talk about it enough and with a hyper inflated currencies going on, they should be benefited greatly from earning interests in hive.
And Hive can save ours too!