A debate is taking place over whether bitcoin can play a role in Palestinians' quest for freedom from Israeli occupation.
It began a year ago, in September 2021, when the Chief Strategy Officer for the Human Rights Foundation wrote an article for Bitcoin Magazine titled "Can Bitcoin be Palestine's Currency of Freedom?" In this argument, bitcoin allows users to securely send, receive and store value without reliance on any third party.
This enhances personal autonomy, and it can serve as a form of resistance to occupation. In his words, "It is a peaceful protest, a digital shield, that could lead to big change."
One of the authors has recently spent a lot of time falling down the bitcoin rabbit hole. The other is a Palestinian who, until recently, resided in Gaza and is newer to bitcoin but already knowledgeable about it. At the end of this post, we address some of Gladstein's reasons that call for caution and qualification, but overall, we concur with him that bitcoin has the potential to be a significant player in Palestine's quest for independence.
Some people don't. Knives have been drawn for this argument throughout the past year. That's excellent news because more discussion, not less, is required to determine whether and how bitcoin might enhance the lives of underprivileged people. But the caliber of the discussion matters.
Too many analysts make incorrect assertions, typically as a result of not making the effort to fully comprehend a location or technology, and occasionally they intentionally mislead readers in order to get points. Both types of terrible perspectives are present in a recent story, which merits a thoughtful reaction.
In the critique that follows, we aim to model analysis that academics, decision-makers, and the general public may take seriously while highlighting the types of issues that detractors are misrepresenting.
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