The world we live in grows better and more developed over time. Societies become more tolerant, people – more open-minded, economy – more prosperous, technology – more revolutionary. This constant drive towards improvement has brought us where we are right now.
And if we were to name any particular development or innovation that takes the centre stage today, it could very well be cryptocurrencies. Cryptocurrencies were conceived as an idea that the drawbacks of the conventional currencies could be alleviated via decentralized and anonymous financial mediums. And cryptocurrencies more or less achieved that goal.
But while these and other technological advancements have become intrinsic for one part of the world, the other parts were unfortunately left out without any knowledge of cryptocurrencies or blockchain.
Not only that, even in developed nations, only a small fraction of people know what Bitcoin is and how it works. Plus, many of them believe that just like the financial frauds, such as the Itrader scam, cryptocurrencies are also fraudulent and used for illegal purposes, be it terrorist funding or money laundering.
Fighting for basic rights
As for the third world, Hong Kong, for example, has been submerged in a tornado of protest movements. The government of the city decided to enact a law that would extradite its citizens to other countries, and mainly – China. The people of Hong Kong know that if they’re trialled under China’s despotic laws, their life might as well be in danger.
In Venezuela, the Socialist government has seized every single industry, as well as every means of getting a stable income. The Venezuelans are literally starving to death; the inflation is skyrocketing; people cannot buy anything; the government monitors every financial transaction and prohibits its citizens from making international remittances.
And these two countries are just a fraction of what’s going on in these countries. Syria, Iran, Iraq, Palestine, Turkey, Argentina, Nigeria – all these and other developing countries are deeply sunk into crisis, both economic and political. Their governments contribute to further escalating the already-unbearable situation, some willingly and some – by accident.
In one way or another, these people need something to lift themselves out of this misery. They need leverage to finally return their freedom and push back the oppressors. As a general rule, these oppressors are the governments that cause: skyrocketing inflations, deliberate currency devaluations, financial surveillance, increased debt – both foreign and internal, and a heavy load of taxes.
But what if there was a tool that could potentially alleviate all those shortcomings and help those societies regain their dignity? The answer to that question is yes, that tool already exists and we’ve briefly mentioned it in the introduction – cryptocurrencies.
Bitcoin ousting the government
Cryptocurrencies, and in particular – Bitcoin, were created in 2008 by an anonymous entity under the alias of Satoshi Nakamoto. Alongside Bitcoin, a ledger platform called blockchain was also announced which, in turn, accommodated cryptocurrencies. While today the two inventions aren’t exactly innovative, back then, some 12 years ago, they began to turn things upside down.
Bitcoin became the first currency that wasn’t issued by any government or a centralized institution. In fact, blockchain had no governing body of any sort – it was, and still is, a decentralized ledger where every single decision is made and granted by its users.
So, since the governments were ousted from this system, cryptocurrencies started to fix some of the problems that were so intrinsic to the fiat currencies. For example, Bitcoin got rid of politically-induced inflation, financial surveillance, cross-border payment restrictions, and so much more. In other words, it became a more rational choice for storing value.
Cryptocurrencies are still new for the developed nations
But as mentioned above, Bitcoin and other altcoins are largely used in developed nations. More people in those countries know about this technology and can successfully utilize its perks and advantages. In other parts of the world, however, people are cannot get their hands on cryptocurrencies. The majority of them don’t even know that they exist.
We’ve listed some advantages of Bitcoin and the whole blockchain network. But we didn’t mention how they can help poor and struggling nations in their battle against oppression and poverty. While almost nobody in a third world knows about them, there are still those nations that are already familiar with Bitcoin and use it for various purposes. Let’s see how some of them utilize their advantages.
Hong Kong to make a precedent
In Hong Kong, for example, individuals, civic groups, and media outlets increasingly see their financial accounts blocked by the government. The Hong Kong authorities want to limit the protesters in every way possible, and since they manage the monetary system, it’s almost no-brainer to use it to their advantage.
However, the protesters haven’t been inactive either. They have found Bitcoin and its anonymity feature that can pretty much lift the whole problem. Some independent media outlets and civic groups have begun to accept Bitcoin donations that are both secure and encrypted, thus, no one can track where the money comes from and where it’s headed.
Even the developed nations struggle for freedom
Funny enough, the third world countries aren’t alone in their struggles against political oppression and surveillance. If you remember George Orwell’s novel “1984”, everyone thought that it was about the Soviet Union – and in fact, it was. But the USSR wasn’t its only focus; as Orwell himself explained, every modern state that takes security and safety in front of freedom will eventually turn into an oppressive entity.
And it can be visible in developed nations as well. In just the US, more than 60 million surveillance cameras are installed all across the country, tracking the citizens’ every movement. And in this environment, it’s incredibly important to fight back and draw the red lines. Bitcoin can definitely help us in this battle.