Human Rights Foundation executives said in a room full of American politicians that Bitcoin continues to prove its status as a powerful tool against authoritarian rule, offering an alternative to how to manipulate and control Fiat currency.
“With Bitcoin, the ability of these leaders to do these things is completely destroyed,” Alex Gladstein, chief strategy officer of the Human Rights Foundation, said Thursday at the Bitcoin Policy Summit in Washington, DC.
“Bitcoin is bad for dictators,” he added.
Glasstein repeats that the government cannot “hyperinflation” Bitcoin holders
Describing the audience as “a hall full of American leaders,” Gladstein explained that the government decided that it would be much more difficult to track individuals if Bitcoin (BTC) is being used correctly. “If they don’t link their IDs and they’re using Bitcoin the right way,” he added.
Gladstein reiterated that those who continue to control their own wallets are protected from many ways dictators try to control people.
“If you’re independent of Bitcoin, the government cannot remove or freeze yours, and certainly cannot over-inflate you,” he said. Bitcoin is a hedge against inflation, especially during hyperinflation, where prices rise rapidly due to a volatile economy.
Gladstein declared:
“Many people in these countries and many other countries are essentially saved or rescued because of this technology.”
He said the Human Rights Foundation first recognized the potential of Bitcoin in 2013 during Ukrainian democratic protests against then-President Viktor Janukovich.
HRF experimented when Bitcoin was $100
He said many of the protesters had frozen bank accounts and “wanted to do democratic work, but later became Maidan Square.”
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“This was a very early stage in Bitcoin’s lifecycle. Bitcoin was worth $100 at the time. I was very skeptical that this would work,” he said, and they opened up to the idea and ultimately worked.
“We got value from them who couldn’t make traditional money,” he said. Glasstein has been working for a nonprofit since 2007.
The Foundation focuses on promoting and protecting human rights worldwide, particularly in countries where its people live under “authoritarian rule.”
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