Author Isaiah Jackson is of the opinion that making the black community rich is a better way to empower them than encouraging street protests.
It’s been said that Bitcoin is the “peaceful protest.” If that is so, then there must be ways by which Bitcoin can be used to help the black community in a time like this.
Isaiah Jackson says it does not matter how the African Americans will be empowered financially. Whether they are given traditional money or BTC, it will go a long way in helping them.
The contrariety in the amount of wealth owned by the African Americans and the whites has a historical background that has continued until this day. At the banks, the whites are given preference to the black Americans thereby limiting their power to be rich. Situations like this can lead to silencing the blacks just like George Floyd was murdered. Jackson says when a community is not empowered financially, something bad can happen:
“Without economic strength, you have cops coming from outside of the community into there and they don’t value it. They don’t value your people. They don’t see you as a person and that is an issue.”
Jackson wants financial supports in response to the protests to go beyond making donations to supporting start up businesses owned by African Americans. He says when there is money available to the blacks, they can prevent police hostility better than protesting in the streets.
“As far as how you deal with an oppressor, there’s only two ways in my opinion: either bankrupt them money wise or violence.”
“I think a better option is money,” he added.
Supporting the cause
Demonstrations like what is going on now in the US and other parts of the world usually lead to an increase in the demand of Bitcoins.
There are indications in various cities that this may be the right time to buy Bitcoins. An example can be drawn from the protest in Hong Kong last year which increased the demand for cryptocurrencies even among local business owners.
However, It is important to be cautious this time as some people are using the George Floyd’s incident to get personal gains.
Jackson has recommended some crypto charity groups such as BitGive and GiveBitcoin. He is optimistic that these charity groups will get to the grassroots in empowering African Americans financially with what they get.