As a result of the American sanctions, Cuba is not averse to introducing digital currencies, and the government is now actively studying this issue.
Now events for this country are developing in an interesting way, as a well-known supporter of cryptocurrency and runaway presidential candidate John McAfee offered his knowledge of the cryptocurrency to the Cuban government.
Aversion to American politics
It seems that before the Cuban government and John McAfee united only contempt for American power and the desire to escape from the clutches of the United States. But now much has changed.
John McAfee believes that he has the necessary experience to help Cuba develop a cryptocurrency that will allow the country to begin trading with other countries, despite various economic sanctions.
In June 2019, McAfee arrived in Havana after the authorities in the Bahamas began to pursue him. The US government also tried to reach McAfee through the Bahamas government. McAfee lives on his yacht with his wife, two bodyguards and seven other employees. In the US, he has been persecuted for refusing to pay taxes for eight years in a row.
His libertarian views seem to underlie his hatred of state power and taxation. McAfee is now considered a US presidential candidate in the 2020 election, and in the race for the presidency in 2016, he even managed to take third place.
However, it should be noted that the creation of a truly decentralized cryptocurrency, which also requires a proper ecosystem, is rather difficult in a country like Cuba, where there are still huge problems with the Internet.
Cryptocurrencies against US “power”
Using cryptocurrency to bypass America’s centralized “power” and create real trade freedom is no longer new. Some countries, including European ones, are also actively exploring the possibility of using cryptocurrencies for international trade. Venezuela even developed its own cryptocurrency backed by oil reserves in order to circumvent US sanctions.
Now, many are considering cryptocurrencies as an alternative that will help get rid of the hegemony of the US dollar as a reserve currency.