Alex Gladstein, Chief Strategy Officer (CSO) at the Human Rights Foundation, has compared Bitcoin with the internet, talking about its impact on society. When the internet was introduced to the world, nobody could envision that it would revolutionize the production of and access to information.
Speaking on the Scoop Podcast, the CSO of the New York-based Human Rights Foundation said he is of the firm opinion that the overall impact of Bitcoin in human life would be similar to that of the internet.
Praising the premier cryptocurrency and saying that Bitcoin’s full potential is yet to be uncovered, Gladstein said that the maximum human potential impact of any technology is not known straight away. As the world today is undergoing a massive social transformation, Bitcoin has a crucial role to play, Alex said.
Founded in 2005 by Venezuelan film producer and human rights advocate Thor Halvorssen Mendoza, the Human Rights Foundation is a non-profit organization promoting and protecting human rights globally, with a focus on closed societies.
Gladstein pointed out how Bitcoin has been useful in countries like Venezuela, which was hit hard by the stringent economic sanctions imposed by the US and other nations.
Faced with an ever-increasing economic crisis due to tough international sanctions, Venezuela’s apex bank, Banco Central de Venezuela (BCV) is now toying with the idea of holding Bitcoin and Ether in its coffers as foreign reserves, as the nation’s state-owned oil company is looking to pay suppliers in cryptocurrencies via the central bank.
The BVC’s action in this regard emanates from the fact that US sanctions against Nicolas Maduro’s administration have miserably isolated the country from the global financial system, leaving it to search for alternate routes to survive the situation.
Besides, protesters in Hong Kong are also relying on cryptocurrency to escape the surveillance of the government. Due to the protests in Hong Kong and severe response from the police and the military against people marching in the streets, local ATMs are either empty of cash or have very long queues. This could be a ready environment for Bitcoin adoption.