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 On Thursday, the Bitcoin Policy Summit took place in Washington, D.C.
“Bitcoin is bad for dictators,” he said.
Gladstein reiterates governments cannot “hyperinflate” Bitcoin holders
Gladstein — who described the audience as a “hall full of American leaders” — explained that governments find it Bitcoins are harder to trace than other currencies.BTCUse’correctly. “If they use Bitcoin in the right way, without linking their ID to it,” He also added.
Gladstein said that anyone who controls their finances is protected from dictators’ attempts to manipulate 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 hyperinflations, where prices increase rapidly because of unstable economies.
Gladstein declared:
“So many people from these countries and so many other countries have essentially been saved or rescued because of this technology.”
Human Rights Foundation, first recognised by him Bitcoin’s potential In 2013, the protests in Ukraine against Viktor Yanukovych, then President of Ukraine, were pro-democracy.
HRF has been experimenting with Bitcoin since it was worth $100
According to him, many protestors’ accounts had been frozen. “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,” It worked out,’ he added, saying that everyone was willing to try it.
“It got the value to them where traditional money couldn’t go,” He said. Gladstein has served at the Since 2007, nonprofit organizations have been operating.
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
