The people who have the capability to use and exchange cryptocurrencies in developing countries are those who already have local or foreign bank accounts denominated in USD or EUR.
These same people then mine coins in those countries, utilising cheap or subsidised electricity, resulting in power shortages.
As we have seen in Turkey, these exchanges can be easily shut down, or the founder can simply disappear with all the cash.
These are not really long term solutions, and the existence of cyrptocoins is probably making the individual lives of people in the 3rd world worse.
I think its more likely that if these grey-market coins didn't exist, the local tech bros in the 2nd/3rd world would actually be pushing Governments to improve general financial regulation and stability, and building a proper series of banking companies themselves.
These same people then mine coins in those countries, utilising cheap or subsidised electricity, resulting in power shortages.
As we have seen in Turkey, these exchanges can be easily shut down, or the founder can simply disappear with all the cash.
These are not really long term solutions, and the existence of cyrptocoins is probably making the individual lives of people in the 3rd world worse.
I think its more likely that if these grey-market coins didn't exist, the local tech bros in the 2nd/3rd world would actually be pushing Governments to improve general financial regulation and stability, and building a proper series of banking companies themselves.