Published on July 18th, 2020 | by gareth0
Is Bitcoin A Socially Responsible Currency: Here Is What Experts Are Saying
I am a crypto trader and my favorite cryptocurrency is bitcoin. I invest in bitcoin for many reasons. One of the major reasons is bitcoin is the most reliable crypto coin. Bitcoin is the first crypto coin and the most popular with the highest value and market cap. Apart from this bitcoin is volatile and most trustworthy. Moreover, another interesting part of bitcoin; it is a socially responsible currency.
I am a member of the bitcoin code community, where I came to know that bitcoin is a socially responsible currency. You might be thinking that what is a socially responsible coin? Before I tell you, what is it, I would like to draw your attention to socially responsible investment. So, let’s understand this first, then I will share the perspectives of some bitcoin experts.
Socially Responsible Investment
In the last few years, bitcoin was said to be a socially responsible investment or SRI. But it is important to understand what it is so that you can decide whether or not bitcoin investment is an SRI.
Socially responsible investment means you invest in an asset being socially responsible. Now how can you invest in an asset by becoming socially responsible? Now let me explain it in more detail. When you are conscious about the society and environment then you invest in the companies which are beneficial for the society or environment. That means your investment is not only based on your personal interest to grow your money but you indirectly contribute to society through investment. I hope you got a brief idea about socially responsible investment. To make it clearer, I am giving you simple examples. You can start trading bitcoins with bitcoin banker
If you want to invest in socially responsible assets then here is an example. Instead of investing in companies which produce tobacco, cigarette, or involved in gambling, you can choose to invest in companies which produce sustainable energy or green environment or clean technology. Now let us understand what is the objective of socially responsible investment.
Objective of SRI
The main objective of socially responsible investment can be divided into two parts. One is to create a social impact by investing your money in an asset. Another is to gain profit from your investment. As a result, both your social responsibility as well as the growth of mone occurs simultaneously. But keep in mind that, the SRI asset should have potential growth that can give you good returns otherwise what is the point of investing. You can simply donate for social work, so choose your SRI asset wisely which can provide good returns as well as serve the society.
Now you have understood what is socially responsible investment. But what is a socially responsible currency? Well, it is the same way as you understand SRI. It is the currency that has some social responsibility. Now let’s come to the point, whether bitcoin is a socially responsible currency? In my opinion, yes bitcoin is a socially responsible currency. To strengthen my opinion, I am sharing some information about why bitcoin is a socially responsible currency.
Is Bitcoin a Socially Responsible Currency?
The answer is yes, bitcoin is a socially responsible currency. Now you have understood socially responsible currency means it should have a social responsibility. Let me show how bitcoin is serving society.
First, bitcoin is a digital currency it does not require any physical paper or material which saves a lot of resources of the environment.
Secondly, the transaction can be done through a simple mobile application and it doesn’t require a physical bank which also saves a lot of resources, manpower, and money.
- According to Dan Roseman, a bitcoin expert says it breaks the financial barrier as the internet solves the information barrier. He says, that it helps people to save the transaction fee and transact money easily to anyone across the globe.
- According to Phillip Christenson, bitcoin can control currency manipulation like devaluation of currency at the same time it can reduce the risk of inflation. It gives power to the public to control the currency rather than a central bank.
Finally, I would say if you want to bring a social impact and gain profit at the same time then investing in bitcoin is a great option. Now, please share your thought on this article below.