Bitcoin is a tool against oppression – Explica

The usefulness of Bitcoin and cryptocurrencies has long been discussed globally. The debate is normally focused on the qualities of cryptoassets as economic and financial instruments. However, the crypto world can also play a role as a tool in the fight against authoritarian governments. As Peter McCormack comments in the Tweet of the day, where he assures that Bitcoin is a tool against oppression:

Democracy is in crisis, and that is a reality that touches absolutely all of us, no matter the country in which we find ourselves. Be it with spectacular events like the attack on the Capitol in the United States, or more subtle moves by authoritarian governments to undermine democratic institutions. It is clear that this is a difficult time for liberal democracy.

In this context, it is difficult to imagine what role Bitcoin and cryptocurrencies can play. After all, normally BTC has been presented as a challenge against fiat money, and not exactly as a tool to fight for democracy.

However, this view can be misleading. Well, at the end of the day, the decentralized nature of cryptocurrencies makes them fertile ground for use in the fight against authoritarian governments.

Since, Blockchain technology places crypto assets in a terrain impossible for any government to manipulate. The reason why Bitcoin has become a tool against oppression in countries like Belarus, as Peter McCormack commented through his Twitter account.

Tell it to people in Nigeria and Belarus who use Bitcoin to survive while protesting oppressive regimes.

Thus, in the face of attempts by authoritarian governments around the world to subdue the citizenry. People turn to Bitcoin not just as a means to save, but as a survival tool. Thanks to which activists from all over the planet are facing oppression, using Blockchain technology, in places as diverse as Nigeria, Belarus or even Venezuela.

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Bitcoin is a tool against oppression - Explica