Cryptocurrencies have gone from the mutant turtles hiding in the sewers, to the majestic phoenix quietly saving the world from evil.
Last week:
“Let’s ban Bitcoin”, “what is Bitcoin for”, “Crypto is worthless” and “Bitcoin is for scammers”.
Today:
“Ukrainian Govt Has Raised $19M in Crypto Donations So Far”
“Binance Donates $10M To Ukraine And Launches Emergency Relief Fund”
“NGOs and volunteer groups sells NFTs to raise $4m in crypto donations to support Ukraine”
“Ukraine: Turning to cryptocurrencies in an effort to keep funds safe”
Just looking at the headlines makes me smile.
Not at the war, but at crypto.
I’m smiling at the naivety of people who didn’t understand crypto, but now do.
I’m smiling at the fact that Putin has become a public enemy no. 1 and also inextricably the loudest Bitcoin Ambassador.
I’m smiling at the fact that powerful, centralised banks with billions can do nothing to help the situation., but Bitcoin can.
Nobody wishes for a war (maybe except Putin).
But typically in a crisis, amongst the rubble, detritus, suffering and misery, something positive will emerge.
Perhaps this is a reminder of what Bitcoin really is.
A persuasion for the world to understand what crypto can do.
A definitive, clear case study on what Bitcoin can do for anyone, anywhere.
Is Bitcoin omnipotent and should we embrace it 100%?
No.
But moving forward, it shows that it is time we start embracing crypto more, and stop hindering progress to things that will matter for posterity.
Think of the millions of dollars that were donated via crypto.
Instantaneous, fuss-free, barely noticeable fees, permission-less, boundary-less and direct.
Now think of the potential hundreds of millions that COULD be donated but didn’t because there was simply no means to do so.
Like it or not, this tragic war, showed the world exactly why we need crypto.
Sadly, it takes a war for Bitcoin (or Crypto) to show its true potential.
Want to know something trippy?
Unlike people, the blockchain doesn’t lie, cheat or hide.
Transparency is its DNA and it remembers everything.
Every transaction, when it is made and who it was made to (at least to which wallet address).
So we know exactly where the cryptocurrencies are at any point of time.
You know who you are donating to.
But the end user of those cryptocurrencies are still humans and we cannot control everything.
Sure, they might abuse the money donated to them, but at least we now know who to hold accountable and have a lot more to work with than before.
Crypto may not have saved Ukraine , yet.
But it sure gave it a lot of help and hope, when nothing else could.
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Do you think crypto helped Ukraine?
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