Reading time: ~1m
The depreciation of the Afghan currency and the lack of opportunities for women to have bank accounts forces them to turn to cryptocurrencies.
Most girls and women in Afghanistan are not allowed to open bank accounts, including due to the lack of necessary documents. For this reason, ten years ago, Roya Mahbub and her sister founded a non-profit digital foundation for citizens and began paying salaries to their employees and freelancers in bitcoin.
It wasn’t safe to send cash to every employee, mobile money wasn’t used as widely as PayPal back then. And then we heard about Bitcoin.
It was easy to use, cheaper and safer than other options. Of course, we explained to the girls how to use it, after which we started paying our employees BTC, telling them that it was an investment for the future,” Mahbub said.
Both sisters did not expect that bitcoin payments would be the only way for many women to escape the country. After the capture of Kabul by the Taliban on August 15, 2021, many of them used crypto wallets to transfer funds to evacuate their families to other countries.
Analysts warned that along with institutional investors, people without access to traditional banks, including in conflict zones or in countries with serious economic shocks, would turn to bitcoin.
The events in Afghanistan fit perfectly into the described picture, where bitcoin has become a real salvation for people, allowing them to use cryptocurrencies to solve vital problems.
#alternative #Afghan #women #banks