Skip to main content

Billions Living Under Authoritarian Regimes Need Bitcoin Says Human Rights Activist

Billions Living Under Authoritarian Regimes Need Bitcoin Says Human Rights Activist

When reporting on cryptocurrency, the mainstream media often focuses on price drops relating to USD. But a human rights activist reminds the general public that Bitcoin is not another commodity or stock on the market, rather, a tool for liberation.

Also Read: Iranian Students in the UK Use Bitcoin to Bypass Banks

Bitcoin is a Tool for Freedom, Not Speculation

Billions Living Under Authoritarian Regimes Need Bitcoin Says Human Rights ActivistAlex Gladstein, Chief Strategy Officer at the Human Rights Foundation, has published an article titled ”Why Bitcoin Matters for Freedom” in Time Magazine. In it he explains how cryptocurrency can help people retake control of their lives from oppressive regimes.

“Speculation, fraud, and greed in the cryptocurrency and blockchain industry have overshadowed the real, liberating potential of Satoshi Nakamoto’s invention,” writes Gladstein. “For people living under authoritarian governments, Bitcoin can be a valuable financial tool as a censorship-resistant medium of exchange.”

The article focuses on the current situation in Venezuela as the prime example of its thesis. It details how Venezuelans are using Bitcoin to evade runaway hyperinflation and harsh capital controls. It also shows how after greatly devaluing citizens’ savings, the Maduro regime is using the banking system to confiscate much of the money sent from abroad by people that want to help their families back home.

Taking Bitcoin From 40 Million Users to 4 Billion

Billions Living Under Authoritarian Regimes Need Bitcoin Says Human Rights ActivistBeyond Venezuela, the article notes how Bitcoin can help citizens suffering from inflation in Zimbabwe, those who want to avoid mass surveillance in China, NGOs that have their bank accounts frozen in Russia, and refugees without access to basic banking services. It also explains that cash fiat is used without government permission, but can be made virtually useless by hyperinflation and that many countries are moving to become cashless societies – thus strengthening the need for cryptocurrency.

“Less than 1% of the world’s population — no more than 40 million people — have ever used Bitcoin. But, according to the Human Rights Foundation, more than 50% of the world’s population lives under an authoritarian regime,” writes Gladstein. “If we invest the time and resources to develop user-friendly wallets, more exchanges, and better educational materials for Bitcoin, it has the potential to make a real difference for the 4 billion people who can’t trust their rulers or who can’t access the banking system. For them, Bitcoin can be a way out.”

When will we see widespread Bitcoin adoption by people living under authoritarian regimes? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Billions Living Under Authoritarian Regimes Need Bitcoin Says Human Rights Activist appeared first on Bitcoin News.



from Bitcoin News http://bit.ly/2EYajB0
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more