• Justin Sun recently commented that blockchain technology can help reduce global poverty by providing financial services to those who lack access to U.S. dollars and other banking services.
• He believes blockchain will become an essential part of national infrastructure, like gas or water, and that stablecoins can provide a valuable alternative for those without access to cash or fiat currencies.
• His company Tron is growing rapidly, and he believes it will have a positive impact on the financial world by allowing people to open accounts easily and for free.
Justin Sun on Blockchain
Justin Sun – the crypto executive behind popular digital asset firm Tron – recently said in an interview that blockchain technology will eventually be needed by mankind the way traditional banks are, and its financial protocols could play a big role in keeping global poverty to a minimum. He noted that blockchain doesn’t discriminate against people based on their credit histories or past jobs, unlike standard banks do; rather, all one needs is an internet connection to take advantage of this technology.
Stablecoins & Financial Services
Sun further asserted that stablecoins are very important because they can provide those who cannot gain access to cash or fiat currencies with an alternative way to store value and make payments. He also mentioned that the United States has traditionally taken its easy access to financial services for granted, but he believes blockchain can help bring other countries up to par in terms of monetary capabilities. In addition, his network Tron is growing rapidly; it allows users to open accounts quickly and for free, which could have a positive impact on the world’s finances as well.
Blockchain’s Role in Reducing Poverty
Sun believes blockchain can be used as a powerful tool in reducing global poverty due its ability for people around the world – even those without bank accounts -to use it safely and securely at minimal cost. He said: “I believe blockchain will become one of the most important parts of national infrastructure, like gas or water…Everybody can use it every day without a very big cost.“ He also added: „I think a big contributor to poverty is a lack of financial services…Blockchain provides a great solution with basically zero costs.“
Tron Growing Quickly
Sun shared his optimism about how his company Tron is doing since its launch several years ago: „Currently our transaction volume is about $1 billion per day.“ This means many more people are using this platform than ever before; however, Sun believes there’s room for much more growth in both usage numbers and capabilities offered through Tron’s platform in the future.