Imagine the case of a worker in a town where the financial infrastructure is scarce and its use involves, in addition to a car trip, a series of insufferable bureaucratic procedures in most cases.
Perhaps an important part of his economy consists of charging for renovation and construction services, where what he receives he receives in hand.
Those $ 10 that he will receive for the reform, taking into account the constant devaluation of the currency (whether national or common), within a year, if he could save it, it will be worth $ 9. In 10 years, it will be worth much less.
If you had decided to buy gold with that earned money, to avoid the loss of value of the currency devaluing, it would have been very difficult to get it. The network of buying gold is cumbersome, difficult and with many doubts. The minimum amount of gold that they would have been required to buy would have exceeded $ 1,000, which would be unaffordable for their economy.
Faced with this situation, millions of family and individual economies are forced into the inability to save. Having to live from day to day or month to month, without options to save money that in a few years will allow them to rest after a lifetime of work.
The situation in this hypothetical case is much more common than we think. Almost 25% of the planet’s population does not have access to a financial infrastructure.
If at this point you are thinking “well, I would have invested in Bitcoins”, we could talk about how inaccessible, slow and complex it is to acquire BTC when perhaps your monthly salary is $ 100. And let’s not say trying to maintain commercial and payment relationships between people, using Ethereum. Just with commissions it would be daunting.
Elrond has launched what may be the largest economic leap in terms of money evolution.
In a matter of 30 years we have gone from only being able to operate with cash, to having cards that, before dataphones existed, had to make a copy of your card with carbon paper to register the payment at the bank. And from there to the payment with contactless cards, and to the payment with the mobile.
The tools are already there: we have the Internet and we all have mobile phones.
What no one had invented was the use of cryptocurrencies on a daily basis.
We all remember our early days in the crypto world. Long and cumbersome wallet addresses, late transactions … Maiar has come to solve all this at once. Also incorporating DeFi 2.0 functions that will allow you not only to make your money grow, but also to be able to use it freely, without custody and in a transparent way.
Egold is the currency created by Elrond to serve as the basis for daily transactions, as it is designed to support tens of thousands of operations per second at almost no cost.
Explaining to all our acquaintances, even friends in the distance who live in countries with highly devalued currencies, how easy it is to install Maiar and start operating with it, is to offer the best economic opportunity of the last centuries to everyone equally.