One of the popular faces in the crypto industry and U.S. presidential candidate John McAfee offered crypto services to the government of Cuba. He wants to help them with their plans to use crypto in order to improve the country’s economic situation.
On July 4th, McAfee tweeted an image from an article, which stated that, at present, Cuban authorities are consulting with academics about the potential for crypto to be used in the country’s “national and international commercial transactions”.
McAfee claims that the country will be able to use crypto to get around the “economic strangulation” imposed by decades of U.S. sanctions, and believes this is an important “real world applications”.
Mcafee believes that millions of people in Cuba are in poverty due to U.S. policies, and he is trying to stop that interference.
Economy Minister Alejandro Gil Fernandez said the following regarding Cuba’s plan to utilize crypto:
“We are studying the potential use of cryptocurrency…in our national and international commercial transactions, and we are working on that together with academics.”
Cuba is probably seeking to utilize digital currency as a means of evading U.S. sanctions. However, Sanctioned nations like Venezuela, Russia, and Iran have all floated the idea of using crypto as a means of trading internationally.
According to the reports of CCN, it is still unclear that, what type of cryptocurrency might emerge from Cuba’s research. However, it is clear that John McAfee would love to simultaneously help to develop “Cuba Coin”.
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