Cardano founder sees bigger role for crypto in Afghanistan after US pullout

[ad_1]

Ethereum (CRYPTO: ETH) co-creator and Cardano (CRYPTO: ADA) founder Charles Hoskinson said on Tuesday that the role of cryptocurrency in Afghanistan would be greater following the US withdrawal .

What Happened: Hoskinson commented on CNBC’s “Squawk Box” program.

“I have no doubts that cryptocurrencies are going to play a bigger role in Afghanistan this time around, in the war for and against the Taliban forces,” Hoskinson said.

In the same interview, Hoskinson also stressed the importance of privacy following the Taliban takeover of Afghanistan.

See also: How to buy Ethereum (ETH)

“This [the Taliban takeover] is a great example of when the rules change, you’d like to retroactively make the things you share publicly very, very, private.

Hoskinson cited the example of posting a photo with US troops and said: “Ten years ago you didn’t think anything about that in Afghanistan, now it’s literally evidence that can be used for you. execute.

The Ethereum co-founder hoped this would spark an international conversation about privacy and the necessary tools, which he says is very closely related to “our industry.”

Why it matters: Scenes of chaos were seen following the Taliban takeover of the Afghan capital Kabul on August 15, as people frantically attempted to withdraw their savings from banks.

See Also: This Investment Strategist Says He Can Sell All His Bitcoin To Go All-In-One On Ethereum: Here’s Why

This, at the time, prompted comments from many players in the cryptocurrency industry about the usefulness of coins like Bitcoin (CRYPTO: BTC) in such a situation.

Some commentators have also said that such a situation would not happen in the first place if governments adopted decentralized currency.

Earlier this month, Hoskinson said Cardano was a “strong supporter of quality human rights” and would not build identity solutions in countries which have “a heavy record of very significant institutional violations.”

The Cardano founding mathematician believed that such solutions could be abused by local authorities.

Price Action: ETH traded 8.72% higher at $ 3,751.03 24 hour at press time while ADA traded 8.6% higher at $ 3.01. Read more: Ethereum shoots for the sky; Dogecoin and Bitcoin Follow Amid Wider Crypto Rally

[ad_2]