The Borderless Power of Cryptocurrencies
It used to be that you had to jump through some pretty absurd financial and bureaucratic hoops if you wanted to transfer money from one place in the world to another beyond your own borders. Whether it be money you send to family in difficult times, simply buying something abroad or donating funds to a cause you want to support.
But this is all changing with the coming of decentralized finance as we know it. No longer can a bank, government or other entity decide what you do wit your own money. The crypto donations to the efforts in Ukraine right now are a clear case of that. It is evident in this article that the borderless power of our beloved magical internet money is not to be foiled with:
Crypto donations to Ukraine top $37M
The situation in Europe is not pretty at all. The fact that we can support this directly as individuals without much fuzz or central systems standing in the way is something that we can truly appreciate in these times of disaster.
The transactions are pouring in and are not being stopped by any geopolitical efforts to garner relationships or other selfish reasons. Even if they wanted to, they'd probably have a hard time doing so. Cryptocurrency is so big right now that there is supply and demand everywhere. Even here in Suriname where we didn't have any ways of going for crypto to fiat, that problem is one of the past. Slowly services are appearing to fill in the gap. It won't be long until you can buy and sell anywhere imaginable.
I have also used the convenience of crypto to transfer money from another country to myself. Most recently for receiving payments for remote work I did, but earlier I also used it to transact with other family members and friends. Certainly beats giving the bank a 20% cut, or whatever they're charging for foreign currency these days. The fact is that they are not needed.
One thing that may still stand in the way is the barrier of technological knowledge that might prevent people from relying on crypto options. Not knowing what something is and how something works can scare a person. Over time this will gradually change, giving more user friendly solutions to the masses. Platforms like Hive are already building these bridges.
Being able to be anywhere and everywhere in an instant without going through convoluted and stagnant stages of a transaction process is a great power to have. And cryptocurrencies grant us that power. The world may still see everything in terms of borders, but with cryptocurrency we are moving ahead to a borderless future.
