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Bitcoin ‘fixes democracy’ and fights corruption: Human Rights Foundation

Bitcoin ‘fixes democracy’ and fights corruption: Human Rights Foundation

#Bitcoin #fixes #democracy #fights #corruption #Human #Rights #Foundation Welcome to InNewCL, here is the new story we have for you today:

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Bitcoin repairs broken democracies and fights government corruption by limiting its power to control its people, argues Bitcoin proponent and Human Rights Foundation chief strategy officer Alex Gladstein.

In a Feb. 20 interview, Gladstein argued that Bitcoin’s (BTC) decentralized nature could act as a barrier against corruption and tyranny.

“Where democracies have collapsed, I think it’s very clearly related to fiat currency, and I think Bitcoin fixes that in a way,” he said.

#Bitcoin fix democracy…#Bitcoin is… free speech, property rights & open capital markets… tyrants need… the opposite: they need censorship… confiscation & closed capital markets”@gladstein

– What Bitcoin Did (@WhatBitcoinDid) February 20, 2023

Gladstein is Chief Strategy Officer of HRF and has worked for the non-profit organization since 2007. The foundation focuses on promoting and protecting human rights around the world – particularly in countries where its people live “under authoritarian rule”.

Gladstein also speaks about Bitcoin and the future of money at Singularity University events, according to his biography.

During the interview, Gladstein said bitcoin represents free speech, property rights and open capital markets, all of which stifle a tyrannical government – which often needs censorship, confiscation and closed capital markets, stating:

“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 difficult for governments to force these things on their people.”

Both Russia and China have historically been hostile to crypto. The Chinese government banned virtually all crypto transactions in 2021; However, the forthcoming crypto licensing regime in Hong Kong has prompted speculation that China’s stance on crypto is softening.

Russia’s top crypto law “On Digital Financial Assets” officially banned the use of crypto for payment purposes in 2020. The law did not ban Russians from investing in crypto, but local crypto exchanges remained unregulated.

“I don’t see these dictatorial powers doing well in a bitcoin standard; I think it’s going to be really difficult for them,” Gladstein added.

Gladstein’s argument about crypto has reflected similar views from others in the past. Bitcoin infrastructure provider OpenNode made similar comments in a 2021 post about the utility of BTC donations in evading government crackdowns.

“One of the advantages of Bitcoin is its resistance to censorship,” OpenNode wrote at the time.

“Without a central authority to dictate who can and cannot use bitcoin, it has emerged as the currency of choice for many individuals and organizations locked out of traditional payment methods.”

According to a February 2022 research by blockchain analytics firm Elliptic, one of the main reasons blockchain-based fundraising was adopted was to avoid closing traditional accounts held by financial institutions.

Related: Blockchain is the only viable path to privacy and resistance to censorship in the 21st century

Gladstein predicts there will be many more “trigger moments” in the coming years when people experience “technical and liquidity issues with traditional financial services,” which will result in more people switching to BTC as an alternative.

“When there’s a conflict or a breakdown in trade or communication, you’re just going to see a whole lot of problems, and every single one of them is like a moment when a new bitcoiner is minted out of necessity,” he said .

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