Источник The Globe and Mail.com, Toronto, Canada
Заголовок Crypto thrives in crisis zones as investors flee crash
Дата 20220623

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Crypto thrives in crisis zones as investors flee crash

Crypto thrives in crisis zones as investors flee crash

Rina Chandran and Avi Asher -Schapiro

Bangkok/los angeles• Соединённые Штаты Америки (США) » Административные единицы США » Административное деление США » Калифорния (штат) » Города Калифорнии » Лос-Анджелес

• Соединённые Штаты Америки (США) » Населенные пункты США » Города США » Города Калифорнии » Лос-Анджелес

Reuters

Published 42 minutes ago Updated 28 minutes ago

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When the Taliban seized power in August, the online marketplace Aseel quickly
pivoted from selling handmade crafts to accepting donations of cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта
to buy emergency aid for Afghans.

The e-commerce platform is one of a growing number of charities using crypto
to support those who cannot access traditional banking systems and who
continue to rely on the digital coins, even though their value has slumped.

We cannot give cash payments because of the sanctions• Политика » Геополитика » Международные отношения » Международное право » Международно-правовые санкции,” said Aseel’s
technical lead Mohammad Nasir, referring to international sanctions• Политика » Геополитика » Международные отношения » Международное право » Международно-правовые санкции targeting
the Taliban.

Aseel takes donations in crypto, as well as official currencies, which it
converts into digital coins to buy supplies such as food and first aid.

It is also raising funds for victims of Wednesday’s earthquake in Afghanistan
that killed about 1,000 people.

We use stablecoins that limit the impact (of market volatility) on our
operations,” added Nasir, referring to crypto tokens pegged to the value of
mainstream assets such as the U.S. dollar, and are considered safer havens
than other cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта, though their value has also slumped.

The fall in crypto markets• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта - bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin has lost about 60% of its value this year
and smaller coins have also been hit hard - has left many investors nursing
losses.

It has mirrored a slide in equities prices, linked to investor concerns about
rising interest rates and the growing likelihood of a global recession.

But crypto retains its appeal in places where sanctions• Политика » Геополитика » Международные отношения » Международное право » Международно-правовые санкции and other disruptions
hamper traditional financial systems, even though more countries are clamping
down.

CRISIS LIFELINE

Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and other cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта were designed to be free of central
financial authorities such as governments and central banks. They allow for
peer-to-peer• Телекоммуникации и связь » Компьютерная сеть » Интернет » Файлообменная сеть » Одноранговая сеть” transfers between users online without any intermediaries.

Their relative anonymity offers a haven for criminals, extremist groups and
sanctioned governments - but champions say they also support citizens caught
up in crises.

When Russia invaded Ukraine, activist Lyudmyla Kozlovska relied on bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin to
buy supplies for people trapped in warzones.

The bank system didn’t work in the early days of the invasion,” said
Kozlovska, a Ukrainian based in Brussels and founder of human rights• Государство » Законы и право » Права человека
organization Open Dialogue Foundation.

We wouldn’t have been able to buy the first 100 bullet-proof vests to help
civilians defending their houses without bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin,” she told the Thomson
Reuters
Foundation.

Kozlovska said she was not substantially impacted by bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin’s crash, as the
funds were usually quickly converted into local currency.

If we had kept the money in (bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin), it would have been a disaster,” she
said.

Ukraine has raised about $100 million in crypto since the start of the
conflict in February, although the government’s fund has been depleted by the
crash.

Charities that accept crypto are still seeing generous donations despite the
steep fall in its value.

Crypto donation platform The Giving Block has recorded more than $100 million
in contributions to non-profits in the last year, said co-founder Pat Duffy.

We see more donations when the market is bouncing up and down than when the
values are increasing steadily,” he said, adding that donors benefit from tax
deductions, while charities also gain so long as they convert the digital
coins quickly.

CHEAPER OPTION

Crypto is also thriving in Gaza, where Palestinians are locked out of popular
international payment apps, and often have to pay high fees to local banks and
middlemen to send and receive payments from abroad, said Ibrahim Elhout, a
software developer in Gaza.

“It’s really difficult to get payments in Gaza. We have restrictions ... from
most of the world,” said Elhout, whose overseas clients sometimes pay him in
crypto.

People have to use “twisted ways ... and lose a lot of money,” he said,
whereas brokers in Gaza charge a 1%-2% fee to send or receive crypto from
abroad and convert it into currency, thus enabling transactions far more
cheaply and easily.

In Afghanistan too, where a majority do not have bank accounts, and the
currency has nosedived in the past year, crypto is a more effective way to
transfer money, said Sanzar Kakar, founder of HesabPay mobile app.

The app allows people to transfer money using crypto, and Kakar is testing a
new version that will allow users to send and receive money using stablecoins,
as well.

More and more Afghans are using stablecoins as a way to send and receive
money,” he said, as there have been almost no remittances through
international bank payments since August 2021, when the United States imposed
new restrictions.

Not all crypto users are as eager: in El Salvador, which made bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin legal
tender
last year with the aim of saving money on remittances, adoption was
marred by glitches, and the crash has roughly halved the value of government
bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin holdings.

“Salvadorans have lost money ... and they are losing faith in bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin,” said
Oscar Salguero, a software engineer from the capital, San Salvador.

Afghan video blogger Farhan Hotak has also lost some money in the crash. But
he is keeping his faith in crypto and said that interest among Afghans remains
high.

Of course, I always remind my followers of the risks,” said Hotak, who often
posts on crypto.

But we Afghans know about risk more than anyone.”

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============= Географические объекты: 1 34.033333333,-118.266666667 Соединённые Штаты Америки (США)#Административные единицы США #Административное деление США#Калифорния (штат) #Города Калифорнии#Лос-Анджелес


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