Human Rights Foundation Executive told US Politicians that Bitcoin is proving to be an effective tool to combat authoritarian controls, and offers an alternative to fiat currencies which are increasingly being manipulated.
“With Bitcoin, the ability of these leaders to do these things is completely decimated,” Alex Gladstein is the chief strategy officer at Human Rights Foundation. said On Thursday, the Bitcoin Policy Summit took place in Washington, D.C.
“Bitcoin is bad for dictators,” He 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 Bitcoins (BTCUse’correctly. “If they use Bitcoin in the right way, without linking their ID to it,” He added.
Gladstein said that if people are in control of their finances, they can protect themselves 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 said. 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.”
The Human Rights Foundation was the first to recognize him, he said. Bitcoin’s potential During the 2013 pro-democracy demonstrations in Ukraine.
HRF has been experimenting with Bitcoin since it was worth $100
According to him, many protesters had their accounts frozen and were not able to access them. “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 added that they had been open-minded about the idea. It ended up working.
“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
