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The UN wants to turn off the tap to developing countries?

sat 13 August 2022 ▪ 14:00 ▪

4
min reading – per
Mikaia ANDRIAMAHAZOARIMANANA

The invisible hand behind global banks and institutions is apparently taking a big step forward. Through its minions, in this case the UN, it intends to impose the end of crypto adventures for developing countries.

UN-CRYPTOCURRENCY

« Measures must be taken to curb the rise of cryptocurrencies in developing countries ». This is one of the strong messages contained in the guidance notes published by UNCTAD last Wednesday.

No escape route for developing countries

If we take into account this recent communication from the UN, developing countries will have an interest in abandoning cryptocurrencies for the following reasons :

  • exposure to the risk of money laundering and tax evasion ;
  • increase in ” social risks and costs » ;
  • problems related to the volatility of bitcoins and others that can affect the economy of developing countries ;
  • jeopardizing the ” monetary sovereignty “of the latter ;
  • instability and insecurity of monetary systems
  • etc.

Basically, it’s time to stop the bleeding on the side of these countries like El Salvador or the Central African Republic who had gone so far as to legalize bitcoin.

But speaking of bleeding to stop, isn’t she on the side of the fans of centralization at the moment?

« There are two concerns. One that is more about using Bitcoin as a reference currency – like El Salvador or the Central African Republic – as an alternative monetary system. There is the fear that this strategy is dangerous for the stability of the country. And then, the other side is that the fact that these populations, who indeed, in developing countries, have a fairly low confidence in their monetary and banking institutions, use alternative currencies to be able to access financing to which they do not have access in their country, since they are precarious. So, there is the fear that they will be fooled by going through platforms that, in the end, would make them debtors and put them in a delicate financial situation. »

UNCTAD to propose solutions to stop the rise of cryptos in developing countries. More details on the website of the United Nations.

The UN is pro-bitcoin if it comes to donations

« All that glitters is not gold “, this is what this branch of the UN believes, whose boss is a fan of blockchain and cryptocurrency donations.

As a reminder, Antonio Guterres has always been open to blockchain technology. The latter being capable of ” boosting progress [des Nations Unies] towards the sustainable development goalsU.S.A. ».

In December 2019, he pointed out in a statement reported by Forbes that :

« For the United Nations to best fulfill its mission in the digital age, we need to adopt technologies, such as blockchain, that can help accelerate the achievement of the Sustainable Development Goals. »

Hence the emergence of avant-garde ideas such as “tokenized candy bars”, the acceptance of donations in BTC / ETH / LTC…

It seems strange that the UNICEF website houses page totally dedicated to crypto-donation. While these donations will largely be channeled to developing countries. A real paradox, indeed?

There is UN and UN

One of these four, you will get to know the UN, the investment technology platform. Recently, the startup specializing in generational wealth has set up a cryptocurrency deposit account. Enough to help families and friends build a better financial future thanks to crypto donations. UN and UN therefore put themselves at the bedside of the less fortunate. But will the UN go so far as to abandon some of its missions for fear of decentralization?

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Mikaia ANDRIAMAHAZOARIMANANA avatar
Mikaia ANDRIAMAHAZOARIMANANA

The blockchain and crypto revolution is underway! And the day when the impacts will be felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it

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