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Ethereum's co-founder says Cryptocurrency Can Help Afghanistan

Charles Hoskinson/YouTube

Charles Hoskinson, the founder of Cardano and the co-founder of Ethereum, told CNBC on Tuesday that he expects cryptocurrencies could be used as a tool to fight the Taliban; he didn't explain exactly how crypto could do that, but hinted that privacy could be something useful for the country's citizens.

"It is my belief that cryptocurrencies are going to play a larger role in Afghanistan this time around, in the war for and against the Taliban forces," he said on CNBC's "Squawk Box Asia."

Charles Hoskinson then added:

"It's going to be really interesting to see how that gets integrated into statecraft and how that gets integrated into resistance against a regime that clearly doesn't care for the rights of many people and clearly wants to put in a theocracy that belongs more in the 13th century than the 21st century," the crypto advocate said.

In fact while Afghanistan's economy collapses and Afghans still in the country face an uncertain future today the country ranks 20th out of 154 countries in an index tracking global cryptocurrency adoption, this is for the simple fact that although financial institutions such as banks in most democratic countries can be safe places to store money, banks however are controlled by governments, and in this case with the Talibans takeover, many have found their accounts frozen and cash impossible to access, this has definitely turned the spotlight on using cryptocurrency which through blockchain allows you to make anonymous transactions and have a decentralized ledger where the money can be stored securely and where governments can't take the control of your money. The future of Afghanistan is uncertain, but cryptocurrencies and the blockchain technology are offering a lifeline to millions of Afghans.