With the sudden seizure of power given in the hands of the Taliban, Afghanistan has been facing intense turmoil from the country’s economic and financial standing with many citizens looking for a way out via cryptocurrencies.
Many NGOs have materialized that accept donations in Bitcoin and cryptocurrencies such as “Code to Inspire”, an organization operating in Afghanistan that accepts donations in digital currencies via the donation platform ‘Giving Block’.
The NGO runs a coding school to support the women of Afghanistan where they are taught the basics of cryptocurrencies and blockchain programming such as game design, web design, full-stack programming, smart contract construction, and Ethereum (ETH) programming language Solidity for free.
‘Code to Inspire’ accept donations in various cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, DAI, Dogecoin, and several others
Donation platform ‘Giving Block’ donates to several other Afghanistan organizations in healthcare, child, and refugee relief.
In another initiative, Jack Butcher, founder of consulting firm Visualize Value, launched an NFT fund to offer care packages to Afghan families. The NFTs were designed in a way that each NFT would support one Afghan family for a month.
According to reports by media giant CNBC, interest in cryptocurrencies has reached a record high in Afghanistan after many banks reportedly shut down due to the lack of fiat currencies, with daily inflation and the plummeting value of fiat currencies adding fuel to the fire.
Researcher firm DataReportal.com reported that Afghanistan saw an increase of 22% in social media users this year and about 69% of the population have access to mobile phones. Therefore, the potential of cryptocurrencies’ usage might increase in the future.