Headline July 25, 2019/ '' 'STUDENTS ' CRYPTO STANDARDS' ''



LARKS LIGHTS : The World Students Society's cryptocurrency, to be seen and heard the wide world over, will have a new meaning

It will set about creating a modern and futuristic revolution the entire world over.

The Poverty ridden world, for the first time in the History of Mankind will have no exclusives. IMAGINE, women in Pakistan are 45 percent less likely than men to own a mobile phone and 63 percent less likely to use mobile internet.

Larks Lights, the cryptocurrency then?

FROM SILVER COINS - TO GOLD STANDARD to flat currency, 'Lark Light', The World Students Society's cryptocurrency to be, may well be the next step in the evolution of money.

BUT throughout history, many new technologies launched with great hype have failed to live up to their potential.

Blockchain and Bitcoin are first rate examples of such 'revolutionary' technologies that are yet to cause any real disruption. Facebook's Libra, is likely to follow in their footsteps. But not and never, Larks Lights.

IN 2008, a paper published under the pseudonym Satoshi Nakamoto introduced the first  cryptocurrency, Bitcoin. The author [s] found that one of the greatest faults of the financial system is that we are forced to trust third parties, ie financial institutions.

By creating a cryptocurrency based on Blockchain technology, they hoped to create ''an electronic payment system...........without the need for a trusted third party''.

The idea held great promise in the wake of the financial crisis. People's trust in financial institutions and government had been damaged. Bitcoin was a way out : a way to participate in the economy without being at the mercy of flawed financial system.

Cryptocurrencies presented solutions to many associated with traditional currencies, reigniting the dream of the internet enabling decentralisation. No one entity could control money supply and financial institutions would no longer mediate all transactions and get damn rich in doing so.

Despite the excitement, there were many reasons why Bitcoin never took off. Fears of crypto-anarchy and anonymous transactions led to the widespread bans.

It was also criticized for its high-energy consumption.

The nail in the coffin was its volatility, which effectively made it useless as a store of value.

As the Bitcoin dream fades, Facebook, along with its partners, has announced plans for a new cryptcurrency : Libra.

The announcement has generated mixed reactions - from paranoia of Facebook's deeper penetration into our lives, to hope that Facebook will solve the world's financial inclusion woes.

The white paper introducing Libra presents it as a philanthropic mission. The sales pitch - which betrays a lack of understanding of the reasons behind financial exclusion - is that Libra will give access to 1.7 billion financially excluded people.

In Pakistan, around 100 million adults lack lack access to formal financial services. How many of them use mobile internet and social media apps and can grasp the concept of crptocurrency?

It is difficult to imagine how Libra is going to be accessible for this excluded population.

Women fare worse in access than men. According to GSMA, 327 million fewer women than men use mobile internet in low and middle income countries.

Women in Pakistan are 45 percent less likely than men to own a mobile phone and 63 percent less likely to use mobile internet.

Social norms are a significant barrier to women's access to smartphones, mobile internet and social media apps.

Inability to read and write and low digital literacy also prevent women [and men] from using mobile phones for much beyond phone calls.

It is unlikely that there will be significant uptake of cryptocurrency - an obscure concept - amongst the developing world population, many of whom are neither digitally ready nor financially literate.

The Honor and Serving of the Latest Global Operation Research on Cryptocurrencies and Future, continues. The World Students Society thanks author and researcher Anum Malkani, a development practitioner.

With respectful dedication to the Global Capital Markets, Leaders, Students, professors and Teachers of the world.

See Ya all on Facebook, prepare and register on The World Students Society - for every subject in the world : wssciw.blogspot.com and Twitter - !E-WOW! - the Ecosystem 2011:

''' Financial Access '''

Good Night and God Bless

SAM Daily Times - the Voice of the Voiceless


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