Forbes: When The Financial System Can’t Reach People In Crisis, Bitcoin Can
“The problem wasn’t raising the money,” he told me from a displacement camp in Gaza. “The problem started when we had to rely on someone else to receive it for us.”
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The weakness Sami’s case exposes is not unique. Crowdfunding platforms can raise money for families facing war, disaster or repression within hours but getting it safely to the intended recipient can be far more complicated.
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Bitcoin allows funds to move across borders without a platform holding them or a beneficiary passing them on. Risks around wallet security, access and exchange rates remain.
For Mary Kate, that control has significance beyond the movement of money.
“We can’t take your account from you. We can’t shut down your campaign. We can’t take your money,” she said. “For people dealing with trauma and a lack of control over their lives, that can be a huge moment of empowerment.”
u/Worried-Flounder-615 — 10 days ago
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u/Worried-Flounder-615 — 3 months ago