The World of Investment and the Advent of the Blockchain Technology
The wildly held, but sadly, an erroneous conceptualization among the masses of African people has always been that financial independence comes only in one sure way — through corporate work. In contemporary Africa, the ideology of Entrepreneurship has imbued only a tiny sliver of the educated elites. The dynamic and indefatigable youth of the black continent have been deluded for ions, that the sure way to a healthy financial life is through obtaining a degree and getting employed — the corporate thuglife (I called it). The concomitant effect of this wide and toxic deception is evident among its vast intellect, who form queues behind the back quarters of state and private institutions scavenging for employment. Graduates form associations and proudly parade themselves along principal streets to badger government into offering them employment. Even an eyesore is the fact that, majority of employees today live from one pay cheque to another, struggling to survive weeks into receiving their pay cheque. Truth be told, corporate work — an old traditional way of making money — is just one in a million, and often not a preferable way of making money. At best, it can only provide a stepping stone to the truth world of wealth. The advent of the internet brought along with it, better and more vibrant ways to earn money and not work your ass out in doing so — Welcome to the world of investment.
In a layman’s terms, Investment is simply letting your money work to produce more money for you. In other words, to invest means to acquire an asset (ownership of value that can be converted into cash) that can be sold when its value appreciates. And its often not difficult; For instance, instead of buying nice cloths (that depreciate with time), a rich man will acquire a piece of land or government bond(both assets ) and sell it when the price of the land or bond appreciates. Or, instead of spending too much time on social media, you could learn a skill to enhance your value that can earn you money. It is often said: the difference between the rich and the poor is that, while the rich acquire assets, the poor acquire liabilities. The wealthiest people such as the likes of Warren Buffet and Edward Thorp, have built their wealth not through intensive physical corporate work but through finding a suitable investment portfolio for their financial outlook. However, the idea of investment is uncanny even to the self-acclaimed educated elites in this part of the world.
Not so long a distant past, in my quest to become financially independent, I began exploring means to earn money. My first resort, like my fellow compatriots, was to acquire a decent job. And so, I began teaching. After eight months of sheer physical work and intellectual stress, the peanut monthly wage couldn’t sustain my daily upkeep for even for two weeks (not that I live an extravagant life but it just couldn’t literally buy anything). I undertook an exercise to look for traditional investment opportunities in the banking sector. My first option was to acquire government treasury bills but relented after looking at the interest rates of banks. Buying equity wasn’t an option I could consider due to my huge financial constraints. I explored government bonds and other options but none could suit my financial outlook at the time. So i continued my search.
Trading was the next option I reviewed. I started studying Forex and intended to start trading with 100 dollars, but wasn’t convinced by my small knowledge and skill, and the complexity and great risks involved in trading Forex. Similarly, I considered Binary trade, the stock market and penny stocks but was scared away by their intricate complexities and the great risks involved. I couldn’t consider investing in the vibrant sectors of my country’s economy such as Agriculture and Transportation because the capital and the legal requirement was more than my stand. I was out of options till I recently stumbled into cryptocurrency.
A new internet technology called the blockchain has given rise to one of the most gigantic and exponential innovation in the global financial market. Vast opportunities in the world of investment have been unlocked since the emergence of this innovative technology in 2009 by one Nakamoto Satoshi (who laid out the blueprint). Cryptocurrency, often called the internet of money, is the present and future of investment. And for the first time accessible to every individual regardless of their geopolitical jurisdiction in the world. Just like the dot.com boom, many individuals and organizations have risen to unimaginable wealth overnight and many are yet to comprehend and harness the full potential of this new technology. (Full article on cryptocurrency coming shortly).
The inconsolable truth is that, when it comes to financial success like any success, it is as if Africans are striked by the left hand of God, and secluded from the prosperity of the rich Earth. It is appalling to comprehend how a stupendous number of African youth dissipate their hard-earned energy on social media posting stuffs of the daily happenings in their poor lives. On the woke of the digital age, there are numerous opportunities out there to enrich ourselves and far better ways to spend our leisure judiciously.
I have only begun the journey of investment especially in cryptocurrency(Bitcoin), which has promised me very huge returns within a year. There are numerous ways to earn money. Corporate work is just one of them and evidently does not hold a future for people who want a healthy financial life. Cryptocurrency holds a bright future for everyone.
Welcome to the future!