The recent earthquakes which have battered Turkey and Syria in the last week have served to highlight the importance of international aid and supporting other countries in crisis.
A payment platform named Alchemy Pay has recently made waves in the cryptocurrency community by donating Bitcoin to aid in the relief efforts, and it has sparked discussion among members of the crypto community as to what place the world of crypto has in international aid and relief efforts. The consensus is that crypto is poised in a unique fashion to be a strong source of assistance if people are willing to donate to a good cause.
Decentralised Currency Helps With Aid and Relief
One of the biggest strengths of the crypto community is a decentralised currency. The idea that currency doesn’t have a particular place of origin or fixed value means that it can operate consistently all over the world. This is the big factor that means the crypto community is poised to help deliver international aid and relief to countries across the world.
The economic status of the country in question no longer becomes part of the equation. In countries where the currency is worth less and goods are scarce, crypto can deliver much-needed aid through relief packages and purchasing supplies.
A good example of how crypto could help would be to look at the situation in Turkey right now. Emergency shelter and food supplies could be delivered through crypto, and much-needed equipment to help with the rescue and humanitarian efforts could also be funded by crypto. As the currency has a consistent value across the world, it doesn’t matter who the person or group providing the currency is. Their geographical location has no bearing on exchange rates or other issues involved with humanitarian aid.
Does Crypto Have a Future in Relief Aid?
As governments and financial experts alike continue to debate the role of crypto in modern society, there are some in the community who feel that it would help the reputation of crypto massively if it were to begin participating in relief efforts across the world. It will certainly help to earn some goodwill with lots of countries if crypto is actively seen contributing to humanitarian efforts and emergency relief for natural disasters and other financial issues.
There are many countries in the world that are beginning to implement crypto as legal tender, and this will undoubtedly continue over 2023 and beyond. It’s not difficult to see how crypto could be poised to deliver relief on an unprecedented scale if community members were willing to use their currency to help.
Naturally, a lot of this is just simple speculation, but the implications for crypto are clear. Using a decentralised currency to transport relief and humanitarian aid across the globe without restrictions such as exchange rates means that some of the largest groups and individual crypto traders could make a lot of difference.
We at Bitcoin Bible think the idea of using crypto to aid humanitarian efforts is a something worthwhile for humanity to ponder. We feel that crypto is uniquely positioned to help when it comes to emergency relief for those who need it most.