The main idea behind crypto is to allow peer-to-peer (p2p) payments at any time, while eliminating intermediaries.

Let’s start with a particular example provided by Jameson Lopp, the lead engineer at multisignature blockchain security firm BitGo. He described a typical holiday in the U.S. — President’s Day on Feb. 19. In 2018, local banks — as usual — closed down and did not provide financial services to individuals. Meanwhile, Bitcoin (BTC), as a p2p settlement system, was able to process over $1 billion worth of transactions, and more than $7 billion worth of Bitcoin was traded on a single day.

Yes, the crypto ecosystem also has its transaction fees. The miners, who approve the blocks, normally sort the transactions by a fee rate. Normally, you can choose between slow and fast transactions, or the crypto services do it themselves. However, the rates are not drastically different, and there were cases in crypto history when crypto users managed to transfer huge amounts of money for almost nothing.

For instance, in October 2018, a Bitcoin investor sent 29,999 BTC (worth about $194 million at that time) — the largest BTC transaction in recent months — with a $0.01 fee. Given that it costs around 1% of the transaction to clear a $1 million payment in fiat currency, to send a $194 million transaction could easily cost hundreds of thousands of dollars with legacy systems.

The popularity of crypto is steadily increasing among people who are unbanked or live in countries with high inflation rates.

Venezuela has been struggling with hyperinflation amid severe social and political crisis for several years now. While the national fiat, the sovereign bolivar, saw dizzying 80,000% inflation in 2018, the Bitcoin trading volumes reached an all-time high by February 2019. As Cointelegraph explained, Venezuelans, who failed to make any savings in fiat that was rapidly losing its price, started buying Bitcoin to confront the economic collapse, with weekly trading volumes reaching above 2,000 BTC on p2p exchange LocalBitcoins.

Meanwhile, U.N. Women — a United Nations entity for gender equality and empowering women — is trialing blockchain cash transfers to help the unbanked refugees in Syrian camps. Women refugees, who participate in the U.N. Women’s cash for work program, are thus able to obtain their money directly, without the assistance of third parties like banks. The blockchain solution allows them to purchase food using an iris scan instead of cash or cards. To access their funds, participants scan theirs eye, which subsequently links to an account on a blockchain.

Apart from decentralized money transfers, crypto as a part of special programs can contribute to responsible consumption and money savings.

As cryptocurrencies are steadily gaining more mainstream adoption, governments and businesses across the world legalize crypto payments in different areas. For instance, in the U.S. state of Ohio, you can pay your taxes in BTC, while in Prague, you could possibly spend your vacation without ever using traditional money, as the Czech capital is the most crypto-friendly destination nowadays, with over 150 venues accepting BTC.

Social programs aimed to support local businesses and nonprofits are another interesting crypto use case. For instance, Canada’s Calgary launchedits own digital currency, Calgary Dollars, to preserve the funds within the city. Citizens can get their coins by participating in local social programs, such as posting ads for goods and services that users want to sell in the relevant app. Later, they can spend their Canadian Dollars to pay for lunch, make a donation to some of Calgary’s nonprofits or buy inner transport tickets.

Meanwhile, Dent Wireless with over 14.3 million users is usingcryptocurrencies to change the mobile operator industry by creating an open marketplace for buying and selling mobile data. Customers can top-up mobile phones in over 60 countries with mobile data, prepaid credits or voice minutes using Dent (DENT) — the company’s native token — Bitcoin (BTC), Ethereum (ETH) or Binance Coin (BNB). On the other hand, traders can buy and sell mobile assets on the Dent Exchange in a global marketplace with mobile users from around the world.

In-app cryptocurrencies also draw the attention of major infrastructure companies, such as railways or airways. For instance, German Railway is considering granting tokens to the customers who frequently use its services.

Get more information about DENT in https://www.dentwireless.com/ 

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