Lebanese turn to buying bitcoin with a U.S. dollar-pegged tether (USDT), earning it through mining, or using it as a means of payment for work done.
In a financial meltdown and economic hardship, there seems to be no hope for the commoner in Lebanon, which is tussling with multiple crises, which has led to the standard of living of Lebanese deteriorating.
In this article, we delve into the current economic crisis, which has led to an increase in poverty and unemployment, and how the adoption of bitcoin (a decentralized digital currency) has provided a means for the Lebanese to earn, save, and spend money outside the control of banks and politicians.
About the Author:
Ian Scarffe is a serial entrepreneur, investor, key opinion leader and Blockchain consultant with business experience from around the world.
An expert in Startup, Investment, Fintech, Web3 and Blockchain industries. Ian currently consults and advises for a range of multi-million dollar companies.
Ian’s overall mission is to foster a society of economically independent individuals who are engaged citizens, contributing to the improvement of their communities across the world.
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