Bitcoin Global News (BGN)
September 18, 2018 -- ADVFN Crypto NewsWire -- From Venezuela
to Palestine, more and more, citizens of the world are relying on
Cryptocurrencies for payments amid any sort of conflict,
governmental or otherwise.
In Gaza, as of just recently,
around 20 new exchange businesses have surfaced that deal only in
Cryptocurrencies, which in this case, means mostly Bitcoin.
According to Coindesk and Ahmed Ismail, a financial analyst who
served as their primary source, people are doing this to grow their
money abroad as well as keep it safe.
Given that many have argued that
Bitcoin’s primary usage is as a store of value, this
would seem to be a good expression
of this, in practice.
A logical question which can come
from such a usage is: will the adoption of Bitcoin
by
citizens of conflict zones like
Gaza lead to true, widespread adoption one day? Logically, the easy
answer is: not alone, however, if we refer back to Satoshi’s
original white paper, then we can easily see that because he built
Bitcoin to be a currency that is free of government control, this
is how it was meant to be utilized.
Furthermore, if the fact is
considered that Palestine has no national currency of its own and
relies on what it deems to be the most stable foreign currencies,
then one could extrapolate that if and when the conflict dies down,
this might be our first example of a Crypto driven
country.
To be fair, for that to happen, the
conflict over Gaza and the rest of the West Bank would have to stop
and an infrastructure would have to be developed that lets the
Palestinian people exchange between fiat and
Crypto.
In the end, the possibility exists.
Despite this, it is a distant hope, at best.
Standing in the way is the existing
goal of the Palestinian government of eventually creating a
national currency.
By: BGN Editorial Staff
News:
Cryptocurrencies