Homelessness is a debilitating disease that plagues the globe. According to UN-Habitat, 1.6 billion people make do with inadequate housing conditions, while another 15 million are forcefully evicted annually. This has led to worsening homelessness rates in the last 10 years and the numbers are alarmingly high.
The pandemic has only aggravated the situation and Australia is a perfect example. In stark contrast to predictions made at the start of the pandemic, homes priced in the island continent have risen continuously. Add the loss of income to the mix and Australians are staring at a very real possibility of losing out on homeownership.
Amidst this chaotic situation, an unlikely savior has risen in the form of cryptocurrency. The People’s Reserve (TRP), a cryptocurrency designed ‘for the people, launched an initiative to address the homelessness problem in Australia. The digital currency is partnering with Reno Crew, a building company, to debut the world’s first digital currency home-building project.
It all started in September last year when TRP called upon its community to learn tasks like bricklaying, basic carpentry, painting, and landscaping. Professionals were hired to train the volunteers in exchange for TRP coins. Project volunteers would also be remunerated for services rendered in digital currency. This aligns with TRP’s vision of establishing an economy focused on financial empowerment and the freedom of all stakeholders.
Reno Crew is providing the required support and infrastructure needed to make this innovative project a success. The company’s expertise in working with recyclable materials will aid in value addition. Presently, nine training sessions and six home renovations have already been carried out successfully. The goal is to eventually offer sustainable homes to communities that need them the most.
The initiative also presents an opportunity to pick up a new trade through the training program. Recognizing unemployment as a major contributing factor towards homelessness, TRP and Reno Crew will provide training to all individuals who which to learn the trade.
The benefits of this initiative are three-fold: providing adequate shelter to those in need, normalizing the usage of digital currency like TRP by paying volunteers with it and showcasing TRP’s potential. As the world moves on from the disastrous pandemic, the involvement of digital currencies in re-building might just prove to be the ace in the hole.
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