When it comes to the political side of cryptocurrencies, things have always rocky, to say the least. To this day, some countries still believe that cryptocurrencies are a threat to their financial systems. A few days ago, G20 leaders declared yet again, their previously held stance regarding cryptocurrencies and blockchain tech.
The declaration has G20 leaders declare that cryptocurrencies are currently in no way a threat to monetary stability.
The G20 Summit in Osaka on June 29th, saw the topic of technological innovation fall under in-depth discussion. According to the declaration, blockchain technology and cryptocurrencies are able to deliver significant benefits to the economy.
The #G20OsakaSummit is over and the #G20 Leaders’ Communique has been published. Interesting anti-#corruption paragraph to analyze: though there is still room for improvement is good to see the inclusion of gender and #corruption and a mention to implementation #G20takeaction pic.twitter.com/VTgj23m9sa— Emilia Berazategui (@meberazategui) June 29, 2019
The issue of corruption was also pinpointed to be one of critical importance. Unfortunately, it seems that the problems with corruption only seem to worsen. The “room for improvement” mentioned in the G20 Leaders’ Communique looks to be pretty big.
G20 leaders have very real problems to solve, and quick
When it comes to working conditions however, the problem is much, much greater in some parts of the world.
While it’s true that the millennial generation has changed work-related culture quite a bit, there are many countries where the current wages, do not allow people to live normally. Especially when it comes to young people, the job market can be incredibly hostile.
G20 leaders briefly touched on the subject that new technological innovations like blockchain tech, offers very well paid and exciting career prospects for young people.
Even before Libra was nothing more than rumors, some companies like Facebook, were quickly sucking up all the available blockchain-knowledgeable workers.
It’s also very interesting to note, that last year saw a correction of above 80% for most cryptocurrencies. The bear market was long and harsh, but blockchain developers had the rare pleasure of having rising salaries.
If the G20 leaders give more room for blockchain tech and innovative technologies to grow, they can without a doubt be used to improve working conditions in other sectors.
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