Cross-border transactions are difficult for people without a national identity, and that’s where bitcoin can save the day, says Glen Roberts who is stateless after renouncing his US citizenship.
Glen Roberts, author of ‘How to Renounce Your U.S. Citizenship in Two Easy Steps’ gave up his nationality after living in various Central and South American countries for more than a decade. When he became stateless, it occurred to him that the currency he used shouldn’t have had national origin as well. Roberts has funded his debit MasterCard with bitcoin and told RT about the opportunities it gave him.
“I live in Asuncion, Paraguay, and so far I’ve found one location, a very nice restaurant where I can use bitcoin to pay for my meal and I enjoy that opportunity,” he said “Now, when I received a MasterCard I can fund with bitcoin, I am able to use bitcoin for almost all of my daily expenses. I hope in future it has a positive impact on the lives of stateless people.”
Roberts is concerned governments can take charge over all spheres of human life making it difficult to live beyond certain parameters including economic activities and civil liberties. He sees the lack of government regulation as the main advantage of bitcoin.
Bitcoin is a form of decentralized digital currency which is beyond the control of money institutions. It’s created and held electronically.
The cryptocurrency has caused controversy. Bitcoin has been linked to a number of scandals and its value is highly volatile. However, the idea of an easy, anonymous, virtual currency with low commission is something many businesses hope to bring to life soon.
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The biggest fear is that the bitcoin payment network could often be used for criminal activity. Thus, the Russian Central Bank warns against using cryptocurrencies, as they could be involved in illegal activities.
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