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Cardano founder sees cryptocurrencies as an important pillar for Afghanistan

Cardano founder Charles Hoskinson is convinced that cryptocurrencies will play an “important role” for the local population after the withdrawal of American troops from Afghanistan.

As Hoskinson, who was also involved in the founding of Ethereum before founding Cardano, explains in an interview with CNBC, he assumes that “cryptocurrencies in Afghanistan will play an important role in the fight against the Taliban”.

According to this, the technology could particularly help the people of the country with the protection of personal financial data:

“The digital life of Afghans is now also being scrutinized by the Taliban, and everything and everyone who does not fit into their backward view of the world is potentially subject to punishment, imprisonment or even death.”

Although the blockchain expert does not give any precise examples of the cases in which cryptocurrencies can help, he points out that Afghan citizens can use these to prevent their spending from being minutely tracked and / or their assets being confiscated.

In addition, the digital currencies could act as a store of value or as protection against inflation, because some observers expect that a real hyperinflation could soon threaten Afghanistan.

In addition, the function as a means of payment could take on a significantly higher priority than before, because bank accounts in Afghanistan have been temporarily frozen on the instructions of the USA and some international organizations. The large payment service provider Western Union has also suspended its operations in the region since last week, which massively limits the possibilities of the Afghan population.

“The Western Union understands how urgent it is for the population to be able to receive money, which is why we want to resume operations in Afghanistan as soon as possible, if the situation allows,” said the payment service.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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