Cardano Founder Charles Hoskinson Says Crypto Will be Essential to Afghani Fight Against Taliban

Sahaj  |  Sep 2, 2021

Charles Hoskinson, the founder of Cardano, recently said that crypto will be vital to the Afghani fight against the Taliban. It has been predicted that Afghans will leverage crypto assets as a store of value and preserve financial privacy amid the dramatic insurgence of the Taliban.

Charles Hoskinson Says Crypto Is Important to Afghani Fight Against the Taliban

The Co-founder of Ethereum, Charles Hoskinson, sat in an interview with CNBC on September 1, and expressed his expectation that “cryptocurrencies will play a larger role in Afghanistan [...] in the war for and against the Taliban forces."

Also, Hoskinson highlighted the requirement for financial privacy-preserving technologies in Afghanistan and stated:

“Afghan’s digital life is now under scrutiny, the last two decades are being reviewed by a regime that if you expressed your opinion in ways that don’t fit their regressive viewpoints you are now under threat of harassment, imprisonment or even death.”

Charles Hoskinson believes that digital assets may play a crucial role in offering financial privacy to the citizens of Afghan following the withdrawal of US forces. 

Though nothing can be said confirmingly for what cryptocurrencies will do for the Afghan society, the adoption of digital assets would allow the citizens of Afghan to evade the attempts of the Taliban to track personal spending.

Western Union Suspends Services in the Country

Western Union, along with other banks, has suspended services in the country until further notice last week and limited the means available to the Afghani citizens seeking to transfer their assets globally.

The company released a statement that said:

"Western Union understands the urgent need people have to receive funds, and we are committed to resuming operations for our customers in Afghanistan as conditions permit."

It should be noted that crypto adoption has been on a rise over recent years and the country is on the 20th rank in accordance with the Global Crypto Adoption Index of 2021, prepared by Chainalysis. 

Related News