The Cryptos as a breath of fresh air – The Israeli-Palestinian conflict drags on and beyond the claims of both parties, it continues to claim victims among the population. In this context, the inhabitants of the Gaza Strip use the Bitcoin (BTC) and cryptocurrencies in general to increase their income and finance their activities, in a paralyzed economy.
The Israeli-Palestinian conflict: claims, but above all victims
Will peace reign there one day? For the past century, Jewish and Palestinian nationalists fight over territories including the religious dimension of some, such as Jerusalem, further complicates the search for a peaceful solution, which would benefit the populations.
After the end of the Second World War, the United Nations opted for a partition plan for Palestine, which divided the territory into two independent states (Arab and Jewish), and a special international regime would then apply to Jerusalem.
How has the situation evolved since then? It’s an acknowledgment of failure: Political efforts to find a compromise in favor of peace have not borne fruit. The Israeli-Palestinian conflict led to the exodus of many Palestinians, who became refugees.
Cryptocurrencies in the Gaza Strip: Bitcoin for a living
The Gaza Strip is home to around two million people. The war has made life particularly difficult in this area, for its population dependent on humanitarian aid, due to the blockade that Israel has imposed on this territory since 2007.
Despite this embargo, however, Israeli authorities and forces are unable to block the circulation of cryptocurrencies, which are part of the economy of the Gaza Strip today. The media The National News spoke with residents of this area to highlight the use and impact of cryptocurrencies in their life.
In one of these interviews, Noor, who is a Gazan, said that learning to invest in bitcoin and start selling makeup online a “ changed his fate “.
For trader Mohammed Awni, his bitcoin holdings and the bull run gave her the funds to get married. Unfortunately, bear markets have wiped out much of the gains for many traders since.
The population of the Gaza Strip is not alone in using cryptocurrencies. Hamas also uses Bitcoin and its cadets to finance its activities. The Israeli authorities must therefore also wage their war against the organization, on this ground. They seized 84 crypto wallets last summer. Hamas would have used some of these wallets, which would have held more than $7.7 million in cryptocurrencies.