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### Everybody is supportive at Steemit with the x-mas spirit floating around. But can the Steemit community make a difference for the poorest in the world? By taking the Steem crypto - and the underlying blockchain technology - to the next level? Here's how blockchain can change the (third) world.


 First of all, it enables emigrants to send the money that they earn all over the world. This global cash flow is proven to make a significant difference for the financial well-being of families and societies in developing nations. With blockchain, the international payment bypasses a lot of traditional banks and institutions. Saving a lot the well-earned money. 

Second, the reason why most people in developing countries lack health insurance is that it is so expensive. Some of this is due to high administrative costs. 

> ### For every dollar of insurance premium collected, administrative costs amounted to $0.28 in Brazil, $0.54 in Costa Rica, > $0.47 in Mexico and $1.80 in the Philippines. And many people who live on less than a dollar a day have neither the ability to afford any insurance, nor any company offering them services.
> *Nir Kshetri - Professor of Management, University of North Carolina*

Online blockchain systems involve verification of transactions and can expose fraud. Cutting the costs for insurers dramatically. A blockchain-based microinsurance is already used by some Mexican people. 

Also, small businesses need cash flow and often a small loan or investment. High-speed international transactions based on blockchain technology can reduce the time that is needed to process all the bills. Now it is not uncommon that you have to wait up to 90 days.

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[Credits](https://www.pexels.com/photo/adult-asia-beverage-black-243057/)


On top of that: using blockchain, the records must be authenticated before adding to the books. Which reduces the problems with fraudulent invoices. As a result, banks in developing countries may be more willing to lend money to startups. 


Finally, it can make a huge difference in humanitarian aid. The direct transactions and traceability decrease fraud, corruption, discrimination and mismanagement. Agencies can easily track their money to make sure that it ends up with the ones who actually need it. Pilot projects have been completed in Pakistan (World Food Program) and Africa. WFP even reported that they expect a decrease in overhead costs from 3,5 to 1 percent!

### To summarize: by providing a direct and traceable system for transferring money, there are thousands of ways that blockchain can make their lives better and expand their opportunities. So keep investing!