Bitcoin Gives Everyone an Equal Opportunity, and That's Revolutionary
Written Sylvain Saurel
Bitcoin protects all its users.
The protests that took place in the United States following the murder of George Floyd on May 25, 2020, by a police officer in Minneapolis brought back to the forefront a sad reality: a problem of racism against blacks is deeply rooted in American society.
The #BlackLivesMatter movement aims to make more people aware that this problem must first be admitted before it has a chance to be treated properly.
Unfortunately, many American politicians refuse to admit what seems to be obvious. During an interview in Pennsylvania on June 19, 2020, Mike Pence, for example, refused to utter the words “Black lives matter”.
The vice-president of the United States acknowledged that the death of George Floyd was a tragedy, but preferred to utter the following sentence:
“And so all lives matter in a very real sense.”
— Mike Pence
While it is obvious that all lives count, the heart of the debate is not here now. The heart of the debate is to admit that there is a problem of racism against African Americans in the United States.
To deal with this problem in the best possible way, we must first become truly aware of it.
To say that “Black lives matter” is already the beginning of consideration of this problem. As long as we have politicians like Mike Pence who refuse to understand this, the problem can never really be addressed.
The American banking system is racist
Behind this problem of police violence that kills so many African Americans every year, black Americans face a whole host of other problems in their daily lives.
Stories of Black customers discriminated against by their banks for obscure reasons are legion. The American banks concerned always hide behind their policies to detect fraud.
Unfortunately, this is racism against Blacks who find themselves excluded from the American banking system.
The #BankingWhileBlack movement which is constantly growing in the United States is there to denounce all the humiliations that African Americans have to live through daily in front of the current banking system.
Hundreds of millions of people are excluded from the global banking system
If the problem in the United States is more than preoccupying, it is perhaps even more so in Africa. Millions of people are marginalized from the current monetary and financial system.
The number of unbanked is extremely high in Africa.
Many people in Western countries do not realize this. They never take the time to look at the rest of the world to see how difficult it is for a majority of people to survive in this world.
Countries under authoritarian regimes also prevent millions of people from preserving their wealth as they wish. Hyperinflation devalues everything these people own or the corrupt governments that run them come and confiscate what they own.
In some countries, women do not have the same rights as men. They do not have access to basic banking services. They have to rely on men, which limits their chances of rising in society.
Introduced in August 1971, the current monetary and financial system has failed in its mission to stabilize the world economy. Banking and economic crises have been multiplying for 50 years as never before in history.
Besides, there has been an exponential increase in wealth inequality bu also in income inequality.
In the United States, the richest 1% saw their wealth increase by more than $21 trillion between 1989 and 2018. Over the same period, the poorest 50% saw their wealth decreased by $900 billion.
The problem is even greater elsewhere in the world.
The monetary and financial system you know is no longer sustainable in its current form. That is a certainty. Something will have to change to help include the poorest in the system.
As long as humans are at the head of the monetary and financial system, arbitrariness will take over. It will be difficult to ensure equal opportunities for all.
The world needs neutral money like Bitcoin
What the world needs is neutral money. For that, it needs money that does not depend on the arbitrary decisions of humans. The world needs money that responds just to decisions of computer source code.
Bitcoin is the money the world needs.
Invented in 2008 as a response to the 2008 banking and economic crisis, Bitcoin has no leader. Bitcoin belongs to everyone. Bitcoin does not discriminate between its users for the simple reason that its algorithm was not designed that way.
Bitcoin has the power to balance things out by correcting the disadvantage that millions of people have with the current banking system.
Everyone has equal weight in the Bitcoin world.
No matter what your skin color, gender, age, or religion, Bitcoin will not discriminate. To buy Bitcoin, and take control of your destiny, all you need is a smartphone and an Internet connection.
Bitcoin is divisible up to eight units after the decimal point. So, everyone can buy Bitcoin no matter how much money they have.
Hundreds of millions of people living in extremely poor countries have now the opportunity to buy Bitcoin to build a better future for themselves.
Once Bitcoin is in their possession, these people will be able to preserve their wealth in a way that is resistant to censorship.
Few people currently understand that Bitcoin’s mission goes far beyond financial investment. Bitcoin’s mission is also to bank the unbanked around the world.
Bitcoin must be seen by all the historically disadvantaged as a way to redress the economic injustice they suffer.
The true revolution with Bitcoin is also to give everyone the same opportunities as soon as they opt for its system instead of the current system which is flawed and not fixable.
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