Human Rights Foundation Executive told US Politicians that Bitcoin is a powerful weapon against authoritarian controls, and offers an alternative to fiat currencies.
“With Bitcoin, the ability of these leaders to do these things is completely decimated,” Alex Gladstein, chief strategist at Human Rights Foundation said The Bitcoin Policy Summit was held in Washington, D.C., on Thursday.
“Bitcoin is bad for dictators,” He also added.
Gladstein reiterates governments cannot “hyperinflate” Bitcoins holders
Gladstein — who described the audience as a “hall full of American leaders” — explained that governments find it Bitcoin (BTCUse’correctly. “If they use Bitcoin in the right way, without linking their ID to it,” He also added.
Gladstein reaffirmed that those who control their wallets will be protected against the various ways dictators attempt to control them.
“If you’re self-custoding your Bitcoin, governments can’t delete or freeze your stuff, and they certainly can’t hyperinflate you,” he added. Bitcoin acts as an inflation hedge, particularly during times of hyperinflation. Prices rise rapidly because economies are unstable.
Gladstein declared:
“So many people from these countries and so many other countries have essentially been saved or rescued because of this technology.”
The Human Rights Foundation was the first to recognize him, he said. Bitcoin’s potential In 2013, protests were held in Ukraine by pro-democracy activists against the then President Viktor Yanukovych.
HRF tried Bitcoin at $100
According to him, many protestors have had their accounts frozen and they “wanted to do democracy work, which later ended up becoming Maidan Square.”
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“This was very early in Bitcoin’s life cycle; Bitcoin was worth like a hundred bucks at the time; we were very skeptical that this would work,” He said that the group was open to this idea and they ended up succeeding.
“It got the value to them where traditional money couldn’t go,” “He said” Gladstein has served at the Nonprofit organization since 2007.
The foundation is focused on promoting and protecting human rights globally — particularly in countries where its people live “under authoritarian rule.”
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Source: cointelegraph.com
