Bitcoin technology is revolutionary for many reasons, but one of the most exciting reasons is the ability for Bitcoin to bring economic freedom to everyone in the world which is literally a life changing event for many millions if not billions of humans on this planet. In this article we talk about why Bitcoin is life changing, and how it saves lives through this newfound freedom.
How Bitcoin provides economic freedom
Bitcoin has many aspects to it but one of the main characteristics of Bitcoin is that it gives the power of your money back to you. It takes away the power from banks and governments, who all control and issue fiat dollars to you, and gives you the ability to fully control it however you want and please. Bitcoin is uncensorable, it’s decentralized and it’s global. It allows anyone to voluntarily participate in a permissionless network which empowers people to not be marginalized by governments and financial institutions; nobody can stop you from using it, where you use it, and how and what you use it for. Governments, banks, and financial institutions cannot stop Bitcoin transactions.
The power and control is back in your hands by becoming a Bitcoin user. Many people like to say, you can be your own bank with Bitcoin, which is very true. With these characteristics, you can see how Bitcoin brings freedom to people that use it and are empowered by it.
Bitcoin saves lives through it’s empowerment
You may think this is a stretch of the imagination — how does Bitcoin save lives? It’s true, Bitcoin is literally saving lives. At the most basic level, countries that embrace the principles of economic freedom have the means, and are more likely to provide better health care overall from birth to death. According to a report by The Heritage Foundation, they write:
“Infant mortality and life expectancy are two broad measures of health standards that give some indication of the ability of a society to provide good health care to its citizens. Low rates of infant mortality mean that women can afford to take care of their children throughout their pregnancy, and it indicates that good health care facilities are available to provide care during and after birth. Life expectancy is another broad and useful measurement of how well a country’s health care system performs. Longer life expectancies indicate that a country’s citizens are able to prolong their lives through access to higher quality health care for the young, middle-aged, and old.
Beginning life healthy and strong is vital for sustainable childhood and adolescent development. Infant mortality remains a huge challenge throughout the world, particularly in countries that do not embrace economic freedom principles. Low rates of infant mortality are correlated with higher levels of economic freedom. Most tragically, an additional 40 infants per 1,000 births die in the most economically repressed countries in the world (quartile four of the Index) versus the freest (quartile one); see the chart below.”
In this second chart, you can see that individuals who live in countries that fall into the highest areas of economic freedom tend to live 14 years longer than those who live in the most economically repressed countries in the world. The relationship between economic freedom scores and life expectancy is positive.
In a video from Bitcoin entrepreneur and Bitcoin.com CEO Roger Ver, called “Bitcoin Economics Explained – Is Bitcoin For the Poor or Rich? Are Babies Dying?“, he discusses this very topic in great detail, explaining how people are dying due to less economic freedom in the world and how infant mortalities are up in countries with less economic freedom. Using another source of data, Ver cited this Yours article. In this article, user Solitude wrote,
“Less economic freedom implies less economic opportunities, less investment, less jobs, etc. It is not hard to see this leading to starvation or deaths. I think this is a tautology.”
In the article are more data and sources, provided by Common Sense Economics, which also show a clear path that people who live in countries with a higher rate of economic freedom prosper more. Also, in countries with more corruption it is highly correlated with less economic freedoms.
In this chart below, you can see how people in countries who are the least economically free have a lower life expectancy.
In this chart below, you can see how people in countries who are the least economically free have the highest levels of corruption.
With this evidence we can conclude that with higher economic freedoms in the world this is not only life changing, but is life saving for people in many different countries. Through the use of Bitcoin and providing people the ability to take their own economic and financial actions into their own hands, we show that this breakthrough technology is not only far-reaching but is liberating.
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