Countries like Russia and Iran are using crypto to evade sanctions placed on them by the West. When dealing with the traditional financial system, everything is not only monitored but controlled. This is how countries such as the US seek to do harm to those who do not agree (obey?) it.
In this video I discuss how these countries are using crypto to operate outside the traditional financial system. Since these transactions are peer-to-peer, we are seeing something that is standalone. Of course, the countries have the ability to bridge back to their own currencies.
This is something that reflects how crypto is outside the reach of governments. It is something that is only going to get enhanced over time as we see more being built.
Here is the article mentioned in the video:
https://www.cryptopolitan.com/crypto-so-perfect-for-evading-sanctions/
▶️ 3Speak
