Hello Hive.
Countless times we have seen bitcoin prove its worth's over fiat via chain donations and fund raising for different good/bad purpose as you may view it.
Though the relationship between bitcoin and fiat is such a one that neither can eliminate the other. Concurrently they coexist and can be used independently, there are times when you have to exchange your BTC for local currency to serve some function, this is why banks must exist for such purpose even though their services will be limited.
A major drawback to fiat and centralized economy is the authority that the government has over the local economy but with blockchain or crypto owner, you can only regulate the exchange an asset is kept in but not the coins, of course I have all the keys and authorities to my hive wallet that no one else does, and maybe not even the developer on the chain (If that's totally true, though am open to learn more if there is something am missing).
The sanctions of Russian ranged from freezing their assets and making funds unavailable to the some entities financing this war but can they stop a country with bitcoin?
And this is in no small amount, Russian can chose to finance this war with their crypto for as long as they can afford and in the same way we have seen various donations in crypto to support the Ukrainian military and now with the recent support of artist and NFT, dollars are been raised their in million through crypto.
You will experience the fastest transactions and money transfer this method instead of a bank processing that are limited and consumes times
Am not in support of this war in anyway and hoping that both parties find a peaceful resolution to mitigate the losses that can be incurred if this is prolonged but the impact of crypto is being felt at the center of it.
Thanks for stopping by.
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