Cardano’s Charles Hoskinson expects cryptocurrencies to play a much bigger position in Afghanistan

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Cardano founder and co-founder of Ethereum Charles Hoskinson says he expects cryptocurrencies to “play a bigger role” in Afghanistan amid the war with Taliban forces.

Charles Hoskinson sees a bigger role for cryptocurrencies in Afghanistan

Charles Hoskinson, the founder of Cardano and co-founder of Ethereum, stated in an interview with CNBC on Tuesday that cryptocurrencies are likely to play a bigger role in Afghanistan, citing the growing need for more privacy.

The Cardano founder believes that there will be an ongoing civil war in the country and that “the remnants of the Northern Alliance have already been formed and they will need resources”. He noted that “unlike the last time this happened in the 1990s, there are now cryptocurrencies,” and stated:

I believe that this time cryptocurrencies will play a bigger role in Afghanistan, in the war for and against the Taliban troops.

The Pentagon announced Monday that the US had completed its withdrawal efforts from the airport in Kabul, Afghanistan, effectively ending a 20-year conflict that began shortly after the September 11, 2001 terrorist attack in the country that left Afghanistan wanted, but couldn’t.

Hoskinson described:

It will be really interesting to see how that is integrated into statecraft and how that is integrated into opposition to a regime that clearly does not care about the rights of many people and clearly wants to introduce a theocracy that is more into the 13th century. Century than in the 21st century.

The adoption of cryptocurrency and bitcoin has increased in Afghanistan, particularly during the recent cash shortage.

The Global Crypto Adoption Index 2021 compiled by the blockchain data platform Chainalysis shows that Afghanistan ranks 20th out of 154 countries. In comparison, the US ranks 8th on the index. The country with the highest rank in adopting cryptocurrencies is Vietnam, followed by India and Pakistan.

Do you agree with Charles Hoskinson on the role of crypto in Afghanistan? Let us know in the comment section below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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