Bitcoin Helps Cubans to Free Themselves From the U.S. Embargo

Bitcoin is already a Plan A for millions of people.

The U.S. dollar is the world’s reserve currency. I’m not teaching you anything by telling you this. Everyone knows that the U.S. dollar has been the world’s reserve currency for almost 100 years.

However, many people don’t realize how incredible the power it gives to the United States. The U.S. dollar grants an exorbitant privilege to the American government, which can export its monetary inflation throughout the world but also to punish any country at will.

As soon as the United States wants to bring down the leader of a country, all it has to do is declare a trade embargo on that country to try to force things.

The United States uses the embargo as a weapon of domination over the world

Countries that do not support the American decision could also be subject to severe sanctions. When the United States decides to impose an embargo on a country, this country often finds itself cut off from the world in terms of trade.

This is what Iran or Venezuela, for example, experience. To bring down authoritarian regimes in these countries, the United States imposes extremely severe embargoes.

The main problem with this type of policy is that even more than the authoritarian rulers in power, it is the citizens of these countries who suffer the most.

In Venezuela or Iran, authoritarian regimes have not yet fallen, but the population is living in increasingly difficult conditions. Americans hope that popular revolts will break out and bring down the rulers.

This does not happen, and instead, the strong anti-American sentiment is growing stronger all over the world.

While hyperinflation is wreaking havoc on the people in Iran, the rulers are not wavering and are using this to show their citizens that the problem is U.S. government attitudes.

Cuba has been suffering from the American embargo for almost 60 years

We tend to forget this, but Cuba has been living under a U.S. embargo since February 3, 1962.

Economic, commercial, and financial, this heavy embargo, which has plagued millions of Cubans for years, has eased slightly since the early 2000s. Indeed, since the early 2000s, exports of food products and medicines have become legal again between the United States and Cuba, although still subject to heavy restrictions.

Despite this, Cubans remain deprived of access to world markets.

The United Nations Assembly has condemned the U.S. attitude towards Cuba every year, but this does not change the situation, since the U.S. is the world’s policeman who can make rain or shine.

The European Union would like to be able to trade with Cuba, but the United States is also pushing to prevent this from happening. In the end, Cubans have few solutions available to free themselves from the U.S. embargo.

Bitcoin can help Cubans solve many of their everyday problems

However, the advent of Bitcoin is changing things for the people of Cuba.

Cuban YouTuber Erich Garcia, who teaches Cubans how to use Bitcoin to circumvent government restrictions and the US embargo, explains the hope that Bitcoin represents for Cubans:

“Bitcoin is a way to be a little more integrated into the globalized world.”

The real problem for the citizens of Cuba is that they are caught in the crossfire. On the one hand, they are penalized by the restrictions of their government, which controls access to the Internet, and on the other hand, they are penalized by the US embargo.

Under these conditions, Cubans find it difficult to look to the future with optimism.

For Erich Garcia, Bitcoin can provide answers to many of the daily problems that Cubans face, as he explains on the Portal do Bitcoin website:

“I believe that Bitcoin is a magnificent solution to thousands of current problems in Cuba. That’s why we want to teach and give the best ways to use it to solve our daily problems at all costs.”

Bitcoin brings hope to Cuban citizens

In a country where the free market does not exist, and where everything is controlled by the Cuban government, Bitcoin can provide the opportunity to access basic banking services, but also purchase high-tech products.

Bitcoin gives its users total freedom over the money they earn.

As long as you have the private keys associated with your Bitcoins, no one can confiscate them from you. In a country with an authoritarian regime like Cuba, this is an incredible guarantee for thousands of people.

Cubans can manage their wealth as they wish with Bitcoin, and above all, use it as they wish as well. Bitcoin will allow them to interact with the global market by carrying out transactions.

Given the restrictions on Internet access, the best way to buy or sell Bitcoin in Cuba is through informal groups that are created on WhatsApp, Telegram, or other Web platforms, as Erich Garcia explains very well.

For Cubans, the development of support for Bitcoin as a means of payment is therefore a vital necessity.

The Cuban example helps to understand why Bitcoin is essential for the future

It gives them more control over their lives, and above all, hope. With the Bitcoins they have been able to purchase, these people can also choose to opt for low time preference and avoid suffering the hyperinflation of the local currency.

This type of testimony is essential for people living in Western countries to better realize how important Bitcoin will be in the world of the future.

If you live in the United States, Canada, Australia, or Europe, you are probably among the most privileged people in the world. You may find it difficult to see Bitcoin as anything other than a financial asset with the potential for extraordinary returns.

But Bitcoin is much more than that. Above all, Bitcoin is a monetary revolution that gives each of its users the same opportunities. Thus, Bitcoin will contribute to building a fairer and better world in the future.

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Conclusion

By supporting the Bitcoin revolution, you are participating today in building a better world for all tomorrow.

It is only if you make the effort to look beyond the financial investment side that you can truly measure how important Bitcoin will be in the years to come for millions of people.

Always keep this in mind when you think of Bitcoin.


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This story was first published on Voice.