Being from the US and moving to Africa has really piqued my interest about cryptocurrency's possible effect on third-world countries and their economies.
For reference, I am living in Tanzania, however, it seems that many third-world countries and their fiat currencies suffer from inflationary problems. Examples include Zimbabwe, Venezuela, Vietnam, and many other countries around the world. Many crypto assets, despite their volatility, are still more stable than the local currencies of these countries. For this reason, I think cryptocurrencies will become a safe-haven for those who have their money stored in unreliable banks around the world.
Another interesting application I read about was giving immigrants a better system of sending money to support family members overseas in these third-world countries. Currently, wire transfers carry high fees for international transfers, and take away significant portions of income meant to aid development in less wealthy countries.
Often times, the family member(s) sending money overseas already doesn't have much to start with. Giving these people a faster and more affordable means of money transfer would make a huge difference in there lives. $30 to many of us in highly developed areas might not seem like much, but it can last a long time in other countries around the world.
I look forward to seeing how cryptocurrency and blockchain applications are adopted over time. Can you think of any other ways that third-world countries can benefit from the growth of cryptocurrency?