Post
Topic
Board Bitcoin Discussion
Re: Bitcoin for Afghanistan and Taiwan
by
kryptqnick
on 21/08/2021, 08:00:42 UTC
Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.
If you're talking about the people of the country who are now left without the international aid which was 80% of the country's GDP and are facing an uncertain future, you might be right that Bitcoin is a good choice for them to keep the people they possess because the banking system isn't well-developed and is currency restricted there, and it's hard to get a hold of an ATM. That being said, I don't think there are options to spend Bitcoin in Afghanistan, so it's only a temporary solution for those who want to keep some wealth they already have, not for day-to-day life. It's only not an option in daily life because many Afghans don't have internet access on their smartphones.