In places such as Afghanistan, transacting in cryptocurrencies is most certainly essential.
What Does Bookblocks Do?
The Taliban regime is notorious for blocking females’ access to education. Seeing as this has been the case, a fledgling NFT company named Bookblocks set up a partnership with a New York-based organization called Women for Afghan Women a few weeks ago and pledged to donate its entire income from their first project, released on October 5, toward educating Afghan women. NFT art commissioned for their first project was inspired by author Louisa May Alcott.
Bookblocks fundraises for various initiatives with their NFT artworks which are intended to integrate NFT technology with the books we know and love and, also, reimagine how new books are published.
Below is a recorded article from Cointelegraph on the subject.
Crypto in a War-Torn Financial System
Since the Taliban have taken over the capital city Kabul, cryptocurrency use has skyrocketed and justifiably so.
Almost half of Afghanistan’s GDP came from foreign aid. But Western governments such as the United States have withdrawn hard currency shipments, leading Western Union and MoneyGram to stop their services in Afghanistan. Foreign reserves, up to $9 billion, in Afghanistan’s central bank, Da Afghanistan Bank (DAB), were frozen as a Taliban takeover became imminent.
Banks and money-service businesses restricted access to their finances. The country’s local currency is difficult to acquire. Moreover, conflict degrades a country’s economy and its currency so that its value is no longer stable.
Afghan citizens have few options left, significantly reduced control over their assets, and have, thus, found solace in cryptocurrency investments as many vulnerable populations do. Cryptocurrencies and crypto wallets have particularly helped girls and women without bank accounts manage and save their money, through an untraceable alternative, without the Taliban interfering.