Bitcoin fixes broken democracies and fights government corruption by limiting its power to control its peopleargues bitcoin advocate and director of strategy at the Human Rights Foundation, Alex Gladstein.
In an interview on February 20, Gladstein argued that the decentralized nature of Bitcoin (BTC) can act as a barrier against corruption and tyranny.
“Where democracies have broken down, I do think it’s very clearly related to fiat currency, and I do think bitcoin fixes this in some way,” he said.
“#Bitcoin fixes democracy…#Bitcoin is…free speech, property rights & open capital markets…tyrants need…the opposite: they need censorship…confiscation & closed capital markets”@gladstein https://t.co/n7mVr3bDwA
—What Bitcoin Did (@WhatBitcoinDid) February 20, 2023
“#Bitcoin fixes democracy… Bitcoin is… free speech, property rights and open capital markets… tyrants need… the opposite: they need censorship… confiscation and closed capital markets” @gladstein
Gladstein is HRF’s director of strategy and has been with the nonprofit since 2007. The foundation focuses on promoting and protecting human rights around the world, especially in countries where its population lives “under authoritarian rule.”
Gladstein also lectures on bitcoin and the future of money at Singularity University events.according to his biography.
Gladstein said during the interview that bitcoin represents free speech, property rights and open capital markets, all of which are stifling for a tyrannical government, which often necessitates censorship, confiscation and closed capital markets. He stated:
“This is what China and Russia need to survive: they need censorship, they need closed capital markets, and they need confiscation; bitcoin makes it really hard for governments to force those things on their people.”
Both Russia and China have been hostile towards cryptocurrencies in the past. The Chinese government banned virtually all cryptocurrency transactions in 2021. However, the upcoming cryptocurrency licensing regime in Hong Kong has led to speculation that China’s stance on cryptocurrencies is softening.
Russia’s main cryptocurrency law “On Digital Financial Assets” officially banned the use of cryptocurrencies for payment purposes in 2020. The law did not prohibit Russians from investing in cryptocurrency, but local crypto exchanges have remained unregulated.
“I don’t see these dictatorial powers doing well on a Bitcoin standard; I think it becomes really difficult for them,” Gladstein added.
Gladstein’s argument on cryptocurrencies has echoed similar views from others in the past. The bitcoin infrastructure provider OpenNode He expressed similar views in a 2021 post about the advantages of BTC donations to circumvent repressive measures by the authorities.
“One of the benefits of bitcoin is its resistance to censorship,” OpenNode wrote. at that moment.
“With no central authority dictating who can and cannot use bitcoin, it has proven to be the currency of choice for many individuals and organizations who have been left out of traditional payment methods.”
According to research conducted in February 2022 by blockchain analytics firm Elliptic, One of the main reasons for adopting blockchain-based fundraising was to prevent traditional accounts from being shut down by financial institutions.
Gladstein predicts that in the coming years there will be many more “trigger moments” where people will experience “liquidity and technical problems with traditional financial services,” prompting more people to switch to BTC as an alternative.
“If there is a dispute or interruption in trade or communications, you will see a lot of problems, and each one is like a moment where a new Bitcoiner will be minted out of necessity,” he said.
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