I want to spend some time to share some of the real life use cases of Bitcoin today, this article focuses on women’s rights and ways the Bitcoin network helps oppressed people.
First, it’s important to know a little bit about Bitcoin.
What is bitcoin? Here’s how ChatGPT-4 describes it!
Bitcoin is a digital cryptocurrency that was created in 2009 by an unknown individual or group using the pseudonym Satoshi Nakamoto. It is based on a decentralized ledger technology called blockchain, which is a public digital ledger that records all Bitcoin transactions.
Bitcoin is unique in that it is not controlled by any central authority, such as a government or financial institution. Instead, it is governed by a network of users who agree on the rules for the system and validate transactions through a process called mining.
Transactions with Bitcoin are conducted peer-to-peer, without the need for intermediaries such as banks or payment processors. Bitcoin can be used to purchase goods and services, as well as exchanged for other currencies or cryptocurrencies.
The supply of Bitcoin is limited to 21 million coins, with approximately 18.8 million currently in circulation. The value of Bitcoin is subject to fluctuations, and it is often considered a highly volatile asset. Despite this, it has gained widespread popularity and is seen by many as a potential store of value and hedge against inflation.
There are countries where women can’t own property, they are not allowed to drive, or not allowed to have a bank account. There are a multitude of reasons for this. I can’t answer the question of why this happens, but I will describe how Bitcoin can give these women options.
The beauty of Bitcoin is that it’s not enforced by anyone. If women in these situations enjoy the life they live, they don’t have to participate in Bitcoin. Bitcoin just provides an alternative if they want one.
Bitcoin is True Feminism:
It’s important to focus on what Bitcoin fixes, and how Bitcoin can change the world. Not only is it important as a store of value, it also helps unbanked individuals have a medium of exchange and a unit of account.
All traditional finance relies on trusting a central party. Even global organizations that try and help countries in poverty, like the IMF or the World bank, need to trust a government or person with the funds that they provide and hope that those funds get distributed and invested properly into the country they are trying to help.
The problem with needing a centralized entity is that those entities are controlled by people and people can be oppressive in certain places.
How are women being affected by not having a useable money?
Women Who Can’t Bank
Iran – Iranian women have legal barriers to opening a bank account without their husband’s permission.
Yemen – Women may be required to have a male family member act as a guarantor or provide permission before being able to open a bank account.
Sudan – Only about 6% of women have access to formal banking services, once again they may be required to provide a male relative as a guarantor when opening an account.
Bitcoin doesn’t require anyones permission to use. Anyone with an internet connection can use the Bitcoin network. Is it perfect? Maybe not. Gold might be better in some circumstances where internet is not available, but just remember that gold is incredibly easy to seize, confiscate and steal. Bitcoin can be stored in your brain by memorizing a few words.
Women Have Difficulty Owning Property
Many of the countries above also fall into this category.
Bitcoin is decentralized, dematerialized property. Nobody can stop you from owning bitcoin and even better, you can own bitcoin without anybody knowing that you own it. This is extremely important for third world and totalitarian countries.
Women Can’t Be Educated
Afghanistan – During the Taliban regime, women are banned from attending school and many schools have been destroyed. Girls still face significant barriers even with the progress we have seen.
Pakistan – Women in rural areas face many challenges. Girls are discouraged in many faces from attending school.
Nigeria – Boko Haram, a militant group, has carried out attacked on schools and kidnapped girls in an attempt to discourage them from attending classes.
Yemen – Many schools have been damaged or destroyed to discourage girls from attending classes.
Bitcoin can allow these women to save their own money and give them an opportunity to be able to search out education and pay for it without needing a bank or government to approve where they spend their money.
How has Bitcoin Been Used Already?
Bitcoin has been used to help women in Venezuela where the government has imposed strict capital controls, making it difficult for citizens to access their money.
Bitcoin has also been used to help women in Afghanistan who are unable to access traditional banking services due to the country’s unstable political situation.
Bitcoin Fixes This
Bitcoin has no gender preference. Bitcoin has no religious preference. Bitcoin has no political preference. Anybody, anywhere, has the right to access to the Bitcoin network.
As global access expands due to mobile devices and internet becoming accessible to more and more of the world each and every year. Bitcoin can become a starting block to allow people to gain access to the global economy. This can happen in a fashion that does not rely on potentially corrupted governments, dictatorships, or household rights. I find this a beautiful step forward in global human freedom.
One way we have seen Bitcoin help all people is that it allows individuals to transport their hard-earned money from one place to another without any risk of robbery, or any trust in a 3rd party.
People can transfer all of their wealth into the Bitcoin network and flee their country by memorizing 12 words. Once they flee the country, they can find a computer or device capable of accessing the internet and transfer that wealth into any currency or asset that they wish.
It can also be used without fleeing, but this is the first time in history where people will not have to worry about their physical property being stolen, seized, or confiscated if they need to leave their borders.
About 1/3rd of adults globally do not have a bank account according to www.worldbank.org.
Banking is one of the most important foundations to the lives we live.
Let’s focus on all of the things Bitcoin can do today as well as in the future. Not only can store value, it can also assist the billions of people globally go from unbanked, to having secure and safe money for today and their future.
Bitcoin can help women all around the globe. Bitcoin can help people all around the globe.
There are thousands of ways that people around the world can be helped. Bitcoin is just one of those ways.
This is not financial advice. This is not an article encouraging people to invest into bitcoin. This is one of the many use-cases for bitcoin and hopefully someone, somewhere can use the technology to make their lives better.
Most of these links go to other websites that have articles on each topic so you can learn and come up with your own perspective on this topic. A few of these link go through Amazon. To my knowledge I will get compensated a few percent of your purchase. A book for example, will be a few pennies (under a dollar) from how I understand it. Feel free not to use my links.
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