A person has a variety of choices and these choices are crucial to shaping their personality. In general, freedom is the ability to act or change without restraint. Something is basically free if it is changeable and not constrained by the current state it is in.
Some basic acts of freedom include but are not limited to freedom of information, freedom to move, freedom of association, freedom of speech. As important as these basic rights are, it is observed that freedom to manage your finances is regulated in a constrained manner and which in the long run could be taken away from an individual based on the laws of the land for which the individual is resident.
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What is money and why do we need freedom?
According to Wikipedia, Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. In other words, money stands as a legal tender for which a nation holds firm for trade and economic activity.
However, before the creation of money, people carried out their means of exchange through the barter system where goods and services were exchanged via barter methodology. This method was totally viable as people lived through centuries using these methods of exchange and gradually moved to precious metals like gold and silver until a government system to track the freedom of the people’s finances through the method of fiat was introduced.
This gave birth to the financial system where the centralized banking system was created to completely monitor the activities of individuals and corporations on how their money moves thereby taking away their freedom to manage their finances. A coalition of governments created a centralized banking system to totally have control over the people and restrict them where necessary by means of financial laws to constrain the individuals’ activities from financial liberty.
Most of the nations and their financial system are structured around servitude and restriction from financial independence. In spite of their attempts to engage the citizenry in financial freedom through the use of various financial tools like loans, treasury bills, bonds, and other tools. This has resulted in an extremely low percentage of unbanked people within the financial system worldwide. Through the use of financial jargon backed by legal terminologies that are not properly explained for the general public, this is a ploy to impoverish the masses.
Blockchain technology and cryptocurrency, however, have changed the way people manage their finances. With Bitcoin being the first cryptocurrency to be associated with financial transactions back in 2009, it has gained mass appeal and community utility acceptance to the degree that almost every nation now talks about the emergence and utility of Bitcoin and other cryptocurrencies as a means of payment.
The spread of the use of cryptocurrencies to emancipate the young and old financially found more of its essence when the value of most of the national currency started plummeting as a result of bad Governmental policies and financial recklessness on the part of leaders and financial experts. The use of Bitcoin and other cryptocurrencies also gave the masses from the whole world an opportunity of becoming their own financial advisors and banks.
As blockchain technology alters the manner in which businesses transact over the internet, financial regulators and government institutions, who have seen that they are losing their hold and grip over the masses, have reacted by introducing policies that will constrain users of cryptocurrencies.
The use of the Klever wallet which is a P2P decentralized wallet system for storing, buying, and sending funds globally, actually puts the funds in the hands of the users and serves as a typical example for enabling financial freedom for the global community.
By itself, Klever as a blockchain technology company will educate users and potential investors about the benefits of blockchain technology and cryptocurrency development as it pertains to financial freedom and the development of internet money as a means of payment in a smart and Klever way.
It is a Klever thing to do.
James Enajite
Klever Writer
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