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The Bitcoin Crazes
The concept of Bitcoin is an intriguing topic. The volatile nature of Bitcoin has now created a frenzy across the world, among several crypto enthusiasts. The excitement to learn a new way of transaction and finance has gone beyond the world of technology and now entering into the sphere of Cryptocurrency. The price of Bitcoin is a significant topic of discussion within the crypto world, and investors of the early financial markets, namely Wall Street are now indulging in its variations.
All the clamor about Bitcoin is acceptable and understandable although it can cause you to lose sight of its actual objectives. The creation of Bitcoin was to enable citizens all around the globe to derive advantage from a completely decentralized payment method, on a peer-to-peer basis, instilling complete authority on them. With various uses of Bitcoin already in everyday life, it has also spread its roots in the protection of Human Rights.
Bitcoin and Human Rights
Preserving Human Rights is an important but herculean task. The users located in the Wester countries fail to recognize this since their Human Rights are protected to the point where injustices elsewhere are not seen by them. The struggle to preserve Human Rights is under constant struggle which is jeopardizing for any country.
Bitcoin as a monetary revolution has attributes that promote preserving Human Rights to construct a better future for the digital world. In simple words, Bitcoin aims to create an exclusive world where all its users are endowed with similar opportunities. Let us see the primary Human Rights that Bitcoin helps to preserve and what makes the digital cryptocurrency a revolution on its own.
Human Rights that are preserved by Bitcoin
When purchasing Bitcoin and adopting an appropriate strategy, you are preserving these fundamental Human Rights:
Privacy Rights
The privacy issue has become a constant struggle for online users in the past few years. Several scandals regarding various social media platforms have caused millions to doubt the privacy of the Internet of Things (IoT). People are also aware that privacy breaches are expensive and services are not free. Reality-check! They are mostly funded by using your personal information. Thus, several countries are trying to adopt a digital currency that is decentralized in nature, that is, away from the scrutiny and authority of the governments and middlemen. Bitcoin provides a pseudonym for the user and privacy can be traced through Bitcoin applications such as Proton mail and register.
Basic banking rights
For residents of Canada, United States, Australia, or Europe, the right to acquire basic banking services is mandatory. The scenario is not the same for underdeveloped or developing countries and countries under authoritarian rule. In Africa, several thousand are exempted from basic banking services and thus, the role of Bitcoin comes into play. Bitcoin allows financial incorporation extremely quickly and easily for all users without prerequisites of any sort, thus creating a revolutionary financial system.
Encryption rights
The appropriate functioning of Bitcoin is governed and guaranteed by the fundamental rights of a country. In most countries, the government tries to install a backdoor in online systems although Bitcoin protects companies from their money being watched and the way it would be used in the world by guaranteeing security through online encryption.
Right to expression
In most Western countries, the right to expression has been an issue since they cannot always fairly express their opinions and concerns. It is to be mentioned that, for any sort of right to be acquired, citizens have to fight for it as the government constantly tries to reduce the same. For authoritarian countries, the right to expression is unfamiliar but with Bitcoin, you are the master of the board. Since the private codes of Bitcoin are at your disposal, they cannot be confiscated or refrained from use.
Right to savings
Financial inflation of fiat currencies such as Dollars, Rupees, Pounds, and others might cause trouble in savings although with Bitcoin one can engage in real-time technology savings. Irrespective of market conditions, the value of Bitcoin keeps rising therefore allowing users to enjoy the right to financial savings.
The most interesting thing about Bitcoin is that it allows the same opportunities for all of its users without making any distinction based on geographical locations or financial capacities.
