Bitcoin News

Bitcoin ‘fixes democracy’ and fights corruption: Human Rights Foundation

Bitcoin supports free expression, property rights, and open capital markets, restraining despotic governments, according to Human Rights Foundation CSO.

Alex Gladstein, chief strategy officer of the Human Rights Fund and Bitcoin enthusiast, claims that restricting government influence over its people solves damaged democracies and combat corruption.

Gladstein claimed in a Feb. 20 interview that Bitcoin’s decentralization can prevent corruption and dictatorship.”Where democracies have gone down, I do think it’s very clearly tied to fiat currency, and I do think Bitcoin fixes this,” he stated.

HRF’s chief strategy officer, Gladstein, joined the nonprofit in 2007. The charity promotes and protects human rights worldwide, especially in “authoritarian rule” countries.According to his bio, Gladstein lectures at Singularity University about Bitcoin and the future of money.

“This is what China and Russia need to survive they need censorship, they need close capital markets and they need confiscation,” Gladstein said in the interview. “Bitcoin makes it really hard for governments to impose those things on their people.”

Russia and China have opposed crypto. The Chinese government prohibited almost all crypto transactions in 2021, but the impending Hong Kong crypto licensing regime has sparked speculation that China’s crypto attitude is changing.

In 2020, Russia’s “On Digital Financial Assets” law banned crypto payments. Russians may invest in bitcoin, but local crypto exchanges were unregulated.”I think it becomes incredibly challenging for these totalitarian powers in a Bitcoin standard,” Gladstein said.

Gladstein’s crypto argument echoes others’. Bitcoin infrastructure company OpenNode wrote in 2021 that BTC donations helped avoid government crackdowns.OpenNode said that Bitcoin’s censorship resilience is a plus.

“Without any central authority to define who can and can’t use Bitcoin, many individuals and organizations who have been shut out of traditional payment methods have chosen it.”

According to a February 2022 Elliptic analysis, blockchain-based fundraising was one of the main reasons to avoid financial institutions closing traditional accounts.Gladstein expects more “trigger moments” of “technical and liquidity difficulty with traditional financial services” in the future years, leading more individuals to switch to BTC.”If there’s a dispute or a breakdown in trade or communications, you’re just going to see a whole hell of a lot of difficulties,” he said.


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