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Crypto: Cryptocurrencies Could Gain Importance in Afghanistan

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Ethereum (ETH) co-  founder and Cardano (ADA)  founder  Charles Hoskinson claimed on Tuesday that the cryptocurrency will play a bigger role in Afghanistan following the US withdrawal.

What happened

Hoskinson made the remarks in the  program  ‘Squawk Box’ CNBC.

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“I think cryptocurrencies are now going to play a bigger role in Afghanistan, in the war for and against the Taliban forces,” Hoskinson said.

In the same interview, Hoskinson also emphasized the importance of privacy after the Taliban take over Afghanistan.

“[The Taliban’s takeover] is a great example that when the rules change, we retroactively want the things we share publicly to be very, very private.”

Hoskinson gave an example of posting a photo with US troops, noting: “Ten years ago no one thought something like this could happen in Afghanistan, but now it is literally evidence that it can be used to kill you.”

The Ethereum co-founder hopes this will spark an international dialogue about privacy and the necessary tools, which he said are closely related to “our industry.”

Because it is important

After the capture of Kabul, the Afghan capital, scenes of chaos by the Taliban were witnessed on August 15, as people  desperately tried to withdraw their life savings  from the banks.

At that time, what happened generated comments from many specialists in the cryptocurrency sector regarding the usefulness of currencies such as  Bitcoin (BTC) in such situations.

Some commentators also claimed that such a situation would never come to pass if governments adopted decentralized money.

Earlier in the month, Hoskinson declared that Cardano was a  “great believer in quality human rights”  and that it would not constitute identity solutions in countries that have a “burdensome record of very significant institutional violations.”

The mathematician and founder of Cardano thought that local authorities could abuse such solutions.

Price action

At press time and after a 24-hour tracking period, ETH was trading 8.72% higher at $ 3,751.03 and ADA was up 8.6% to $ 3.01.

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