Just read Palestinians Are Using Bitcoin to Transact Across Borders Amid Conflict

Palestinians Are Using Bitcoin to Transact Across Borders Amid Conflict

For a small but growing community of users in the occupied Palestinian territories of the Gaza Strip and the West Bank, bitcoin has become a lifeline. This would appear to solve a real problem for a population with restricted access to the global economy amid the ongoing conflict with Israel. Facts on the groundWhile sending or receiving bitcoin may be frictionless, on- and off-ramps just don't exist in the Palestinian territories. Ammous said it "completely misses the point to think of bitcoin as a payment solution that can be added onto existing monetary systems." According to World Bank estimates, 21 percent of Palestinians live below the poverty line on less than $5.50 a day.

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Wednesday, September 19, 2018