The Chief Strategy Officer of the Human Rights Foundation believes that bitcoin has a crucial role to play in a world that is currently undergoing “massive social transformation.” The leading decentralized cryptocurrency has been useful in countries like Venezuela, where authoritarian regimes have taken full control. The protesters in Hong Kong are also relying on the cryptocurrency to escape the surveillance of the government.
“Bitcoin’s impact will be similar to the Internet.”
Alex Gladstein of the Humans Rights Foundation, while speaking on the Scoop Podcast, said that he believes the wider impact of bitcoin in human life would be similar to what the internet had. The technology that decentralized the means of production of information and access to information, he added.
Cryptocurrency to play a key role in the time of recession.
Several economists and experts believe that a worldwide economic recession is inevitable as similar to 2008. But this time, bitcoin could make a huge difference as the value of the cryptocurrency does not depend on the traditional assets. People in countries like Venezuela where the inflation rate has been enormous are using bitcoin to hold their funds. The current political situation all over the world is in turmoil as extremists and demagogues continue to come into power.