Forget Prices, Ethereum Is Offering a Different Value in Afghanistan

Circular economy

Speaking of what's called a circular economy – whereby the women can be compensated in ether and then use that ether to buy other products – this has been the real problem with crypto adoption in the developing world.


And it's a problem that often requires systemic change.


Whereas Venezuelan cryptocurrency enthusiasts can use bitcoin, ether and even zcash to buy rice, diapers and other essentials online, then have those items shipped to their homes, this isn't the case in Afghanistan, where Forough said the postal service isn't reliable and many roads and houses aren't marked like they are in other parts of the world.


Still, cryptocurrency has gained some traction in the country since Forough first started experimenting with it in 2014.


For instance, a few Facebook pages and other websites show that money traders are looking for more information on accessing cryptocurrency.


But Janey Gak, an Afghan-American bitcoin enthusiast who works with communities in her homeland, isn't super optimistic about the prospects for ether in Afghanistan. People in the country are still asking pretty simple questions about the industry – mostly bitcoin – at this point; and she's only had one Afghan trader ask about ether, she said.


According to her, one thing that could help, though, is if the in-person money sellers, called sarafis, were to start trading cryptocurrencies.


Afghans rarely trust financial institutions or corresponding mobile apps to convert currency, and instead prefer to use sarafis, who deal with the multitude of fiat currencies used across war-torn Afghanistan. And if sarafis got involved, people might move over to cryptocurrency as a long-term store of value rather than putting their savings in gold and other physical goods, which can lead to a number of issues, like they do today, Gak said.


Global access

Still, even with much development to be done in Afghanistan to make it ripe for cryptocurrency adoption, Forough sees the partnership with Bounties Network to give her students an introduction to ether is a beneficial step on a long road towards financial independence.


"A lot of women are not able to travel to other cities, some families don't want their daughters to travel alone by herself or to work in other cities," Forough said, adding:


"If there are single digit chances for them to work in Herat, there are a million opportunities online."


Herat is the third-largest city in Afghanistan and home to CTI, although the nonprofit will allow women to take classes or work online, instead of coming into the office. As such, CTI provides them with employment opportunities they might not have in their home cities.


"I think it's a good thing for our students to do projects online and get paid. It can be very useful for our students, especially our web design students," CTI mentor Aalem Daneshyar, whose first experience with cryptocurrency was getting paid in it through a CTI class, told CoinDesk.


Plus, since Forough feels like the broader blockchain industry overlooks war zones like Afghanistan, she hopes teaching these woman how to earn crypto will be the first step in seeing homegrown technological solutions to local challenges.


In Forough's mind, the opportunity to engage with the global economy and become familiar with cryptocurrency wallets might prove more valuable, in the short-term at least, than the digital coins themselves.


"There are girls in Afghanistan who know how to code," Forough said, adding:


"And they are going to change the future of Afghanistan, their country, by just accessing this 21st-century knowledge."


Reprint:  Publisher:  Leigh Cuen
Source: Coindesk Author:  123
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