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Cryptocurrencies May Ease Financial Consequences for People in Afghanistan By Cointelegraph


Cryptocurrencies May Ease Financial Consequences for People in Afghanistan

“One of life’s greatest tragedies,” according to author KL Toth, “is losing your sense of yourself and accepting the version of you that everyone else expects.” For the people of Afghanistan, nearly 40 million of them, the loss of self, as well as the loss of life, has become a brutal reality. With the Taliban in control, now chaos reigns. As businesses close, tens of thousands of people are desperately trying to flee the country. Furthermore, as the political system collapses, so does the financial one.

As CNBC’s MacKenzie Sigalos recently noted, Afghanistan is “a country that moves on legacy financial rails.” This painful reckoning, which has been in the works for 20 years, has resulted in a “nationwide cash shortage” as well as “closed borders, a plummeting currency and rapidly rising commodity prices.” The people are desperate as the country rapidly descends into the deepest depths of despair.

John Mac Ghlionn is a researcher and cultural commentator. His work has been published by publications such as the New York Post, The Spectator, The Sydney Morning Herald, and the National Review.