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> I doubt it. I suspect they're thinking of bank loans, but resourceful fintech already have solutions for getting by without a loan. I see similar business mo
by Melting_Harps 4y ago
> I doubt it. I suspect they're thinking of bank loans, but resourceful fintech already have solutions for getting by without a loan. I see similar business models in Africa, so poverty is not an argument against it.
UA24 is prime example, the crowdsoured funds have helped disburse funds collected in both fiat and bitcoin (after a massive influx from various crypto communities early on in the war) for on the ground purposes; Zelensky just got confirmation of the EU and US funds last night and spoke [0] of a website tat was launched for centers for citizens to go that will have access to heat and electricity throughout the country in pharmacies and grocery stores as the shelling continues by Russia and keeps causin blackouts (Russia struck again today causing blackouts all the way to Moldova) .
It's possible, and i really hope such a thing never happens anywhere else, but their is a reason why Bitcoin was the prefered way of getting funds into the country when the UA central bank put capital controls on the first day of invasion: BTC was there since the Maidan Revolution in 2013 and had been battle tested, so when the Russian invasion happened it was battle tested and it was deployed to start doing evac and other emergency services that continue to this day.
In short, despite the inept bleating from so many in these circles: Bitcoin (the network) isn't solely the affectation of techbros and grifters in Japan or the Bahamas, it was battle hardened in conflicts and environmental catastrophe.
I fear, however, that despite these microloans geopolitics plays a much bigger role in getting infrastructure put in places like Africa since China has been exercising it's soft=power colonialsm policy for decades in order to pay off despots and have access to rare-earths. It's just another example of how the technological side of things may have been resolved, bu things like kleptocracy and nepotism prevent it from having the impact that it can and should have at addressing an issue.
0: https://www.youtube.com/watch?v=vCGWEQIrieY https://www.youtube.com/watch?v=vCGWEQIrieY