Alex Gladstein called Tether (USDT) the Humanitarian technology for millions of people from everywhere ranging from Lebanon to Nigeria to Cuba to Palestine.
Tether (USDT) The Humanitarian Technology
What is Humanitarian? It is about being concerned with trying to make people’s lives better and reduce suffering.
The humanitarian statement obviously triggers many. Bu why? Many are left wondering about the presence of any kind of evidence that would substantiate that Tether is being used by millions in countries like “Lebanon to Nigeria to Cuba to Palestine”
Why is “Humanitarian” called a case associated with Tether? It is triggering everyone.
Are there points to prove that Tether is dis-humanitarian? Alex Gladstein claims it is important to disprove.
BTC advocates believe that Bitcoin can rise to the challenge of filling the need of being humanitarian.
The extra trigger when Alex called Tether as the human technology is when he associated it with being the “Humanitarian technology for Lebanon to Humanitarian technology for Nigeria to Humanitarian technology for Cuba to Humanitarian technology for Palestine.”
Humanitarian technology for Lebanon: The Lebanese liquidity crisis is an ongoing financial crisis affecting Lebanon, that became fully apparent in August 2019, and was further exacerbated by both the COVID-19 pandemic in Lebanon and the 2020 Beirut port explosion.
Reportedly, Lebanon has witnessed a dramatic collapse in basic services, driven by depleting foreign exchange (FX) reserves and the high cost of the FX import subsidies on food, fuel and medication. Real GDP is projected to decline by 10.5% in 2021, on the back of a 21.4 contraction in 2020.
Of course, Lebanon uses the USD as its de facto currency, the USD – LBP exchange rate is fixed at 1USD = 1,500 LBP. You can pay anything in both currencies.
However, Dollars are generally unavailable at the official rate because of the economic crisis, which is why black-market rates apply. In 2020, Lebanon was the fourth most-indebted country in the world behind Japan, Greece and Eritrea.
Bitcoin in indeed fits in to Lebanon’s Banking Crisis, because banks are looking for alternative monetary policy and citizens are scrambling for alternative money.
Reportedly, people are using Bitcoin to buy black market dollars. Tether is considered to be a good stable coin to be used in Lebanese businesses. Thus, they will have something less volatile to use for their business.
Lebanese currency crash is already pushing citizens to stash their savings in Digital money.
Those who want to know more about Tether should check Paolo Ardoino, CTO of Tether discuss Tether, Stablecoins, El Salvador’s Bitcoin Bond, Coding for beginners, Duties of a CTO, Lightning network and Bitfinex staying online in a recent podcast with cryptonews.
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