Topic: Bitcoin is Used to Aid Belarus Protestors - page 2. (Read 422 times)

1500 EUR is a pretty big sum of money for people in Belarus where minimum wage is around 150 USD a month.

I feel like Belarus is only one of many corrupt countries in the former Soviet Union. Russia and Ukraine are pretty much the same and sending money there won't change a thing. I feel like it's another struggle between corrupt communist government and the free market revolutionists supported by the West.

Taking into account all that is happening in Belarus, it can be assumed that in the near future, crypto-transactions will be prohibited on the territory of the republic, obviously if this initiative with support in crypto-currencies continues.
And the participants, naturally, will receive criminal liability, as is the case now. The regime will stifle protests at all costs.

I checked, and while the minimum wage is still low, it's now 375 Belarusian rubles or $140. As for the protests and totalitarianism, you are absolutely right. It's inspiring and unique that Belarus is finally fighting for a change, and I hope they'll succeed with their demand of fair elections.
I've read lots of things about the protests and I follow what's going on there, but it's the first time I'm seeing this information about Bitcoin. I'm not surprised they are using it because it's not the first time protestors do that. However, I thought it might be problematic there due to the Internet being blocked and slowed down across the country...

This situation may become very unusual in history of this country and in the world history as well. But it is a bit ambiguous. From one side it may help BTC become more popular as a good example of new opportunities comparing with ordinary banking cards or fiat money, but from the other side it is not clear nowadays will it give something more for developing of BTC and mass adoption there and in the whole world. I can add only that it is a pity that different political processes are very often associated with technological things and good ideas and products. But sometimes it helps to develop and to attract mass attention to some directions and processes.

Elections in Belarus, protests and economic hurdles

Belarus is considered as the last dictatorship active in Europe. Belarus President Alexander Lukashenko has been accused of electoral fraud for decades and is in office since 1994 and the collapse of the former Soviet Union. This is 26 years currently. The latest Belarusian elections are disputed and a series of massive protests against Lukashenko and his government are taking place in most Belarusian cities for more than three months.(Source: Wikipedia)

It is important to add that Belarus is one of the poorest countries in Europe, minimum wage is around $140, and the rest official data is manipulated by the government to a point that it is hard to make a valid analysis. The Belarusian government is accused of rigging the elections and the opposition candidate Sviatlana Tsikhanouskaya claims victory with at least 60% of the votes. The authoritarian government is trying to crack down the peaceful protests of Belarusian citizens from more than three months and there have been reported many cases of torture of detainees and human rights violations by UN experts, as well as cases of enforced disappearances of vital members of the opposition. (Source: United Nations)

The situation is far worse and I only gave a brief description without moving into more of the reports coming from Belarus and the UN. The Belarus elections took place between 4-8 August and it was announced that Lukashenko won with 80,1% of the voters. Belarus also cut off the internet from their citizens during the heat of the protests on August 10th blaming outside forces and large scale DDoS attacks. Although it seems that VPNs weren't affected but internet speeds were slower than usual. (Source: Vice)
A major cryptocurrency exchange in Belarus Currency.com announced they were dealing successfully with all the internet shortage problems. (Source: forklog the link also contains information on how to bypass internet blocking)

Also important about the Belarus Economy is the depreciation of the national currency. The government has limited liquidity and issuance of loans for the retail and corporate sector in a bit to strengthen the ruble but these restrictions may lead to a shadow currency market.
The Lithuanian Foreign Minister stated that "the Belarusian economy is on the verge of collapse". (Source: Interfax)


Bitcoin is already helping

The good news comes with the use of Bitcoin as a way to fund the opposition in a country where all funding options have been cut-off by the government. A Dutch NGO (non-profit/government organization) "Bysol" - Belarusian Solidarity Fund" (link: http://belaruswith.me/) has started funding Belarusian dissidents using Bitcoin as means of payments.

Belarusian protestors that were fired from their job for political reasons can apply for aid and a one-time payment of 1500 euro that will be deposited in their Bitcoin account. The move is seen as a system of parallel currency and a free economy movement for Belarus, with the help of Bitcoin.

Three categories can apply for payments:

• employees of state enterprises dismissed for active civic stance;
• civil servants and security officials who left office due to disagreement with the actions of the current government;
  
• employees of state enterprises who are on strike, but not dismissed, who have no one to replace (for example, miners).
  

The requirements for the Bitcoin payments are:

• The one-time payment is € 1,500

• Applicants must prove the fact of dismissal or participation in protests at enterprises

• Publicly declare their citizenship in a video message

(Source: forklog)


Tech sector asks for radical changes

Meanwhile, a Trustee wallet representative in Belarus and CEO of Crypto Emcee Eugene Romanenko, who is also hosting cryptocurrency conferences in the country, was arrested on August 9 (Source) but he was released a few days later. He spoke out of the role of Bitcoin and cryptocurrencies:
"Decentralization is the main sign of the Belarusian protest in 2020. Don't forget that Belarus is a world-famous IT country. Belarusians have learned how to communicate effectively using Telegram and Viber. What prevents them from transferring money to each other 24/7/365 in Bitcoin and other cryptocurrencies? Nothing. Turn off the Internet - Web 3.0 will help out"
"The laid-off workers are already receiving support in Bitcoins. The next step is to sell goods/services for cryptocurrency, bypassing fiat money. The next step is to sell goods/services for cryptocurrency, bypassing fiat money. There are already dozens of stores ready to put up price tags in cryptocurrencies. Before our eyes, the birth of the Belarusian crypto-economy is taking place, in which millions of Belarusians will be involved within a year or two."

This event in my opinion is huge and perhaps similar in effect to the Cyprus banking crisis of 2013, although different in circumstances. Bitcoin besides other features has a use case that is to bypass central governments and authoritarian regimes and help fund dissidents in their fight against corrupt and oppressive governments.


Other sources and more information:
Coindesk: Belarus Nonprofit Helps Protestors With Bitcoin Grants
Beincrypto: Dutch NGO is Sending Bitcoin Aid to Protestors in Belarus
Sifted: Belarus Tech Protests