Fleeing Afgans struggling to withdraw cash

If your money is in the bank, it is the bank’s money.

Afgan people learned it the hard way: when rushing to the banks to withdraw their savings in order to flee the Taliban-seized country, they found themselves stuck in absurdly long waiting lines, with bank employees giving diverse excuses as to the impossibility to get cash.

This is bad, and the Afgans didn’t really need an additional difficulty to their already shaken lives.  And yet, this is not the first time they are deceived by the banks: the 2010 scandal of the New Kabul Bank, where its management together with top politicians enriched themselves running a Ponzi scheme, should have rung the bell. Unfortunately, many are obliged to use the bank, and others don’t know the alternative.

We do hope that these banking struggles would incite Afgans to gain their personal monetary independence, which would be all the more precious in the dictatorship country Afganistan is becoming. And this independence comes with crypto.

The unique quality of Bitcoin to be free from any trusted third party gives the power over money exclusively to its owners.

If your money is Bitcoin, it is your money.