With the Taliban almost out of funds after their takeover of Afghanistan, it is very likely that the terrorist outfit will look for new solutions for their economy. Crypto will be one such avenue given its popularity and how transparent it is. And with no regulating body, there are no safeguards to prevent terrorist organizations from buying into the world of cryptocurrency.
But on Wednesday, the founder of Cardano and co-founder of Ethereum, Charles Hoskins says that cryptocurrencies will play a bigger role than people think. With Afghanistan’s digital life under scrutiny, anything that does not fit in with their regressive views will be dealt with swiftly. This means that the Taliban can persecute anyone that they think is not in line with their thinking.
Why turn to digital assets?
The crypto giant also says that crypto will be essential for Afghani citizens to acquire assets that are not directly controlled by the state. This will in turn give them access to the much-needed international resources.
Using digital assets to store value could also protect the people against the high inflation that comes with the toppling of the government. Hyperinflation will soon set in and people will have to figure out different ways of tackling this.
With local banks shutting operations so that the people cannot get foreign aid. And with Western Union suspending services until further notice crypto might just be the only option.
With Afghanistan ranking 20th in Crypto adoption, it is very likely that the country will lean towards these currencies in this time of crisis.