The UN wants to cut the tap to developing countries?

Sat August 13, 2022 ▪ 2:00 p.m. ▪

4
min read – by
Mikaia ANDRIAMAHAZOARIMANANA

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

Steps must be taken to curb the rise of cryptocurrencies in developing countries “. This is one of the strong messages contained in the policy briefs published by UNCTAD last Wednesday.

No escape route for developing countries

Taking 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 the like that may affect the economy of developing countries;
  • jeopardizing the monetary sovereignty of these;
  • 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 which 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 now?

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, it 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 effectively, in developing countries, have fairly weak 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 lured into going through platforms which, in the end, will make them debtors and put them in a difficult financial situation. »

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

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 boost progress [des Nations Unies] towards sustainable development goalse “.

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

For the United Nations to best perform its mission in the digital age, we must embrace 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 chocolate bars”, the acceptance of donations in BTC/ETH/LTC…

It seems strange that the UNICEF site hosts a 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 meet the UN, the investment technology platform. Recently, the startup specializing in generational wealth set up a cryptocurrency deposit account. Something to help families and friends better build a financial future through crypto donations. The UN and the 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 of this World, against all hope, I will say that I had something to do with it

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