{"id":62054,"date":"2023-10-04T18:35:15","date_gmt":"2023-10-04T18:35:15","guid":{"rendered":"https:\/\/egrowonline.com\/?p=62054"},"modified":"2023-10-04T18:35:15","modified_gmt":"2023-10-04T18:35:15","slug":"an-on-the-ground-report-cointelegraph-magazine","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=62054","title":{"rendered":"An on-the-ground report \u2013 Cointelegraph Magazine"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><strong>In Cuba\u2019s capital, Havana, a Bitcoin community has emerged from an economically antagonistic environment.<br \/><\/strong><br \/>\u201cSatoshi didn\u2019t create Bitcoin for Cubans, but it really comes in handy for us,\u201d Forte, co-founder of the aptly named local Bitcoin organization Cuba Bitcoin, tells Magazine.<\/p>\n<p>Cubans are turning to Bitcoin because their money is increasingly worthless. Zimbabwe, Venezuela and Lebanon often compete for media coverage about runaway inflation levels, but the Cuban peso is not far behind.<\/p>\n<p>The Cuban peso has devalued so much over the last few years that carrying bags of cash is increasingly common among the rich and the poor.<br \/>In practice, even if someone bought Bitcoin at the top of the 2021 bull run at $69,000, their money is worth much less in Cuban pesos. Whereas Bitcoin dropped 80% to its bear market low, it has since recovered 100%, and the peso has devalued by 90%.<\/p>\n<p>The realization that someone should swap local currency for the Bitcoin top, knowing that it will crash and they\u2019ll still retain more purchasing power, is one of the many financial wake-up calls received while working on Cointelegraph\u2019s new documentary, <em>The Truth Behind Cuba\u2019s Bitcoin Revolution<\/em>.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"The Truth Behind Cuba&#039;s Bitcoin Revolution | What it Really Looks Like\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/UPp0Xbk4bFo?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure>\n<p>In 2021, I came across the article \u201cInside Cuba\u2019s Bitcoin Revolution\u201d by Human Rights Foundation chief strategy officer Alex Gladstein, in which he explains how and why Cubans were utilizing Bitcoin\u2019s stateless and low-fee properties to save money and escape financial oppression.\u00a0<br \/>In line with the Bitcoin mantra of <em>Don\u2019t trust, Verify<\/em>, I went to see with my own eyes what Gladstein described.<\/p>\n<p>Camera in hand with my trusty travel partner <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/crypto-stories-youtuber-paco-de-la-india-explains-his-travels-using-bitcoin\" rel=\"nofollow noopener\">Paco de la India<\/a> by my side, I network my way into the Cuba Bitcoin community, which now counts thousands of enthusiasts and advocates.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-la-cultura-cubana\"><strong>La Cultura Cubana<\/strong><\/h2>\n<p>Following one of the largest financial conferences in the world, Bitcoin Miami, in arguably the world\u2019s most capitalist arena, the United States of America, I hop across the Caribbean to Cuba, one of the few extant socialist states. The contrast hits me harder than the Cuban tropical heat.\u00a0<\/p>\n<p>From the moment I landed at Havana Jose Marti International Airport, I noticed some funny quirks: doors open manually (forget automatic sensors), check-in and immigration are done on pen and paper, and the taxis are 1950s Chevrolets.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-24131\" width=\"795\" height=\"596\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5.jpg 1024w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5-300x225.jpg 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5-770x578.jpg 770w\" data-lazy-sizes=\"(max-width: 795px) 100vw, 795px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5.jpg\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5.jpg\" alt=\"\" class=\"wp-image-24131\" width=\"795\" height=\"596\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5.jpg 1024w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5-300x225.jpg 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image5-770x578.jpg 770w\" \/><figcaption class=\"wp-element-caption\">A retro car in Havana\u2019s city center. (Cointelegraph)<\/figcaption><\/figure>\n<p>It\u2019s common to describe visiting Cuba as a time warp. It\u2019s not hyperbole; Cuba cannot access world markets, financial institutions or trade. The United States has subjected Cuba to a trade embargo \u2014 the longest in modern history \u2014 since the island nation nationalized U.S. oil refineries in 1960.<\/p>\n<p>As a result, Cuban industry, economic output and commerce lag far behind the modern world.<\/p>\n<p>The embargo, coupled with more than half a century of communism, has resulted in a highly educated, extraordinarily literate but desperately poor and hungry population, many of whom possess a heartbreaking desire to leave the island, or in Spanish, to find a \u201csalida\u201d \u2014 an exit.\u00a0<\/p>\n<p>Why stay in a country where a taxi driver earns more than an atomic engineer \u2014 and the emaciated engineer struggles to feed their family?\u00a0<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-adopting-bitcoin\"><strong>Adopting Bitcoin<\/strong><\/h2>\n<p>In such an environment, it\u2019s a wonder why Cubas don\u2019t flock to Bitcoin as money that exists outside of state control. However, many Cubans are learning about and slowly turning to Bitcoin.\u00a0<\/p>\n<p>Catrya, one of the main characters in Cointelegraph\u2019s new documentary and one of the founders of Cuba Bitcoin, explains that there could be around 5,000 Bitcoiners in Cuba, and if you include crypto enthusiasts generally, the number is higher still.\u00a0<\/p>\n<p>Cubans do not have easy on-ramps into crypto. Firstly, those with internet connections cannot sign up for Binance, Coinbase or Gemini due to their nationality. For Cuban Americans on the island, Cuba\u2019s government restricts access to American websites. Cubans buy Bitcoin peer-to-peer through Telegram or WhatsApp groups and at in-person meetups.\u00a0<\/p>\n<p>What amazes me is the tiny amounts of money Cubans put aside to save money or \u201cstack sats.\u201d Saving 1,000 satoshis (less than $1 a week) is meaningful to a Cuban on $40 monthly. The Cuban peso may not be here in 10 years, but Bitcoin certainly will be.<br \/>The peer-to-peer process is straightforward, but it\u2019s not beginner-friendly, and these hurdles can hamper adoption \u2014 although they do have a silver lining, as Catrya explains:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cSince we\u2019re denied [access to exchanges] by default for being Cuban, we can never do KYC [Know Your Customer], so that\u2019s a good thing for us, at least in terms of privacy.\u201d<\/p>\n<\/blockquote>\n<p>Buying Bitcoin peer-to-peer and storing Bitcoin by taking ownership of the private keys is safer. Customers who trusted custodians such as FTX, BlockFi, Celsius and Vauld with their crypto were wiped out. Cubans don\u2019t have that option, and while it takes longer, it\u2019s more secure.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"580\" alt=\"\" class=\"wp-image-24133\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1.png 1000w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1-300x174.png 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1-770x447.png 770w\" data-lazy-sizes=\"(max-width: 1000px) 100vw, 1000px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1.png\" \/><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"580\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1.png\" alt=\"\" class=\"wp-image-24133\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1.png 1000w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1-300x174.png 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image3-1-770x447.png 770w\" \/><\/figure>\n<p>Erich Garcia Cruz, the founder of QvaPay and BitRemesas \u2014 a currency remitter using Bitcoin that boasts tens of thousands of Cuban users \u2014 says that the small but growing number of Bitcoin customers somewhat represents Cuba\u2019s fledgling internet culture.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-connectivity-and-freedom-of-information\"><strong>Connectivity and freedom of information<\/strong><\/h2>\n<p>Cubans could get online in earnest from 2013. So, while the rest of the world was enjoying the iPhone 5C and 4G, a few lucky Cubans fortunate to access a computer could get online that year, albeit with an awful internet connection.\u00a0<\/p>\n<p>Now, Cubans can access 3G and sometimes 4G connectivity on their phones. The tech-savvy and younger Cubans use VPNs to circumnavigate online restrictions.<\/p>\n<p>Generally, the lag in internet infrastructure combined with the cost and difficulty of buying a smartphone on a frighteningly low salary means Cuba is way behind in IT.\u00a0<\/p>\n<p>In 2021, the World Bank <a target=\"_blank\" href=\"https:\/\/data.worldbank.org\/indicator\/IT.NET.USER.ZS?locations=CU\" rel=\"nofollow noopener\">reported<\/a> that three-quarters of Cuba has access to the internet. But while the issue is improving, internet censorship is rife, and Cubans are repeatedly told to trust the government through state-sponsored TV, newspapers and media.<\/p>\n<p>Independent media publications are classified as \u201cenemy propaganda,\u201d which is something I was made aware of a few times during my investigation. I won\u2019t share those stories here, but it\u2019s safe to say reciting such stories would\u2019ve landed me in trouble had I stayed in Cuba.\u00a0<\/p>\n<p>Two exiled Cuban journalists have since advised me to avoid returning to the island for some time, especially if the Cointelegraph documentary gets a lot of attention.\u00a0<\/p>\n<p>A funny caveat to the state-run media is that some Cubans were orange-pilled by Bitcoin proponent Max Keiser. His appearances on the Russia Today news channel were approved for broadcast in Cuba. Some of Catrya\u2019s peers watched the show where Keiser bashes fiat currencies and promotes Bitcoin.\u00a0<\/p>\n<p>And yet, Bitcoin is magic internet money; it lives on the web. If Cubans aren\u2019t online \u2014 or watching Russia Today \u2014 how can they know about it?\u00a0<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-orange-pill-cuba\"><strong>Orange pill Cuba<\/strong><\/h2>\n<p>Bitalion, one of the Cuba Bitcoin founders, works in telecommunications for the government. He explains that as a privileged public sector worker, he benefits from better internet connection speeds and lower online censorship levels.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-24141\" width=\"658\" height=\"870\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-775x1024.jpg 775w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-227x300.jpg 227w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-770x1017.jpg 770w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5.jpg 936w\" data-lazy-sizes=\"(max-width: 658px) 100vw, 658px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-775x1024.jpg\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-775x1024.jpg\" alt=\"\" class=\"wp-image-24141\" width=\"658\" height=\"870\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-775x1024.jpg 775w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-227x300.jpg 227w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5-770x1017.jpg 770w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image6-5.jpg 936w\" \/><figcaption class=\"wp-element-caption\">Bitalion speaks to Paco before dinner<\/figcaption><\/figure>\n<p>Bitalion stumbled across the Bitcoin white paper in 2014 and became infatuated with the idea of an independent, borderless currency. He rhetorically poses the question: For those fortunate Cubans who are able to travel abroad, what can they bring to the new country? The peso in their pocket, or Bitcoin in a mobile wallet?\u00a0<\/p>\n<p>As with the other Bitcoin advocates on the island, Bitalion volunteers his time to educate people and support Bitcoin adoption. He\u2019s also one of the handful of Cubans running a Bitcoin node. At Cuba\u2019s <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/cuba-bitcoin-community-hosts-btc-only-meetup\" rel=\"nofollow noopener\">first-ever Bitcoin-only meetup<\/a>, he demonstrates to dozens of Cubans how to pay for goods and services directly to his Lightning Network node.<\/p>\n<p>Cruz, Forte and countless business owners explain that Bitcoin is an easy \u201corange pill\u201d to swallow, particularly for the digitally capable Cubans. You merely explain to them that nobody controls it; it\u2019s stateless money.\u00a0<\/p>\n<figure class=\"wp-block-image alignright size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"427\" height=\"430\" alt=\"\" class=\"wp-image-24142\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1.png 427w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1-298x300.png 298w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1-100x100.png 100w\" data-lazy-sizes=\"(max-width: 427px) 100vw, 427px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1.png\" \/><img loading=\"lazy\" decoding=\"async\" width=\"427\" height=\"430\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1.png\" alt=\"\" class=\"wp-image-24142\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1.png 427w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1-298x300.png 298w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image8-1-100x100.png 100w\" \/><figcaption class=\"wp-element-caption\">Interviewing Forte<\/figcaption><\/figure>\n<p>At face value, Bitcoin is a useful tool for a country that has been financially and economically handicapped for generations. But for Forte, Catrya and Bitalion, the ideology of Bitcoin resonates strongly.<\/p>\n<p>Forte jokes, \u201cSatoshi didn\u2019t create Bitcoin for Cubans, but it really comes in handy for us.\u201d<\/p>\n<p>In the hope of encouraging more Cubans to explore Bitcoin, the trio and the Cuba Bitcoin community host monthly educational meetups in which they explain the principles of Bitcoin and delve into its philosophy.<\/p>\n<p>They recently <a target=\"_blank\" href=\"https:\/\/twitter.com\/Cuba_BTC\/status\/1698468385506398273?s=20\" rel=\"nofollow noopener\">introduced<\/a> the popular Mi Primer Bitcoin (My First Bitcoin) program in the country, which is already picking up speed in El Salvador and will soon be <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/el-salvador-to-introduce-bitcoin-education-in-schools-by-2024\" rel=\"nofollow noopener\">instructed in schools nationwide<\/a>.\u00a0<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-por-que-aceptas-bitcoin-why-do-you-accept-bitcoin\"><strong>Por qu\u00e9 aceptas Bitcoin? Why do you accept Bitcoin?<\/strong><\/h2>\n<p>QvaPay\u2019s Cruz explains that Bitcoin is the financial tool that allows the small but growing number of Cuban business owners to access foreign products.<\/p>\n<p>Recent U.S. presidential administrations had fluctuating policies on the Cuban embargo, relaxing and tightening different aspects based on political expediency.<\/p>\n<p>Cruz orange-pills suppliers in an attempt to open up the Cuban economy to international markets where possible:<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cYou are accepting Bitcoin because you\u2019re dealing with a private [independent] coin. The government doesn\u2019t have access to the transactions you and you have the freedom to do whatever you want.\u201d<\/p>\n<\/blockquote>\n<p>The term \u201cfreedom,\u201d or \u201c<em>libertad<\/em>,\u201d popped up frequently as I mingled and met with Cuban Bitcoiners, crypto enthusiasts and entrepreneurs. The fact that citizens can hold money in a wallet, outside of government overreach, appealed to many Cubans whom the government has consistently let down.<\/p>\n<p>The ability to store wealth on a mobile phone in a Bitcoin Lightning wallet instead of in pesos at a bank is also an efficiency gain. It means no more queues at banks to cash in money that could devalue by a few pesos over a bank holiday weekend.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-24143\" width=\"640\" height=\"666\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image2-2.png 702w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image2-2-288x300.png 288w\" data-lazy-sizes=\"(max-width: 640px) 100vw, 640px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image2-2.png\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image2-2.png\" alt=\"\" class=\"wp-image-24143\" width=\"640\" height=\"666\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image2-2.png 702w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image2-2-288x300.png 288w\" \/><figcaption class=\"wp-element-caption\">Speaking with Erich Garcia Cruz. Yes, the V from Vendetta poster was intentional.<\/figcaption><\/figure>\n<p>Cruz and three other business owners also share that accepting Bitcoin benefits holidaymakers. Adan, a nightclub, bar and restaurant owner, explains that tourists bring a lot of cash to Cuba for vacation \u2014 and that\u2019s risky.\u00a0<\/p>\n<p>Having Bitcoin on a mobile phone in a wallet is a safer way to travel than flashing wads of dollar bills that end up on the black market in Cuba, inadvertently supporting the illicit and sometimes dangerous black market activity of exchanging notes in public.\u00a0<\/p>\n<p>Adan accepts Bitcoin because of the international branding the Bitcoin logo brings. It opens up his bars\u2019 doors to another potential market. Similar to El Salvador, <a target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/tourists-flock-to-el-salvador-despite-bitcoin-bear-market\" rel=\"nofollow noopener\">where Bitcoin tourism has become a trend<\/a>, bars and restaurants in Cuba could also attract holidaymakers to spend satoshis instead of pesos at the till.\u00a0<\/p>\n<p>Finally, there are myriad ways in which adopting Bitcoin can lead to positive and unexpected outcomes. Mister Navi\u2019s bar and restaurant, run by Mr. Navi and his son Julian, recently began accepting Bitcoin. Following a conversation with Forte, Catrya and Bitalion, the Cuba Bitcoin group now hosts educational Bitcoin meetups at the venue.<\/p>\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" class=\"wp-image-24144\" width=\"803\" height=\"602\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-1024x768.jpg 1024w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-300x225.jpg 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-770x578.jpg 770w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-1536x1153.jpg 1536w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4.jpg 1999w\" data-lazy-sizes=\"(max-width: 803px) 100vw, 803px\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-1024x768.jpg\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-1024x768.jpg\" alt=\"\" class=\"wp-image-24144\" width=\"803\" height=\"602\" srcset=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-1024x768.jpg 1024w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-300x225.jpg 300w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-770x578.jpg 770w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4-1536x1153.jpg 1536w, https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/09\/image4-4.jpg 1999w\" \/><figcaption class=\"wp-element-caption\">From right: Mr. Navi, Julian, Paco and me at Mr. Navi\u2019s<\/figcaption><\/figure>\n<p>I tipped one of the service staff in Bitcoin at Mr. Navi\u2019s the first day we visited. Five days later, I saw her again when we went out for dinner with Mr. Navi and Julian. She seems different \u2014 I ask her if she is OK. She confesses that she was mugged a few days ago, and the attacker stole her purse, cash and phone.\u00a0<\/p>\n<p>To her surprise, when she downloaded the Bitcoin Lightning app where I\u2019d tipped her, the funds magically reappeared on her new phone. On seeing her wide-eyed reaction, I tipped her again.<\/p>\n<p>It\u2019s clear that, for Cubans, Bitcoin could represent a critical instrument for securing their financial future in the face of runaway inflation and government interference, or as a way of opening up to embargoed markets and the international financial world. \u00a0<\/p>\n<p><em>Disclaimer: The views, opinions and perspectives expressed in this article are those of the author and are not necessarily those of Cointelegraph.<\/em><\/p>\n<div class=\"author category_page\">\n<div class=\"author__img\">\n\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" alt=\"\" height=\"300\" width=\"300\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Joseph-Hall-1024x1024.jpg\" \/><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/06\/Joseph-Hall-1024x1024.jpg\" alt=\"\" height=\"300\" width=\"300\" \/>\n\t\t\t\t\t\t<\/div>\n<div class=\"author__content\">\n<h2 class=\"author__name\">Joseph Hall<\/h2>\n<p>Joseph is a research and interview journalist with a keen interest in the monetary policy implications of Bitcoin and cryptocurrencies.<\/p>\n<\/p><\/div><\/div>\n<section class=\"news\">\n<\/section>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/magazine\/cuba-bitcoin-revolution-adoption-embargo\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In Cuba\u2019s capital, Havana, a Bitcoin community has emerged from an economically antagonistic environment.\u201cSatoshi didn\u2019t create Bitcoin for Cubans, but it really comes in handy for us,\u201d Forte, co-founder of the aptly named local Bitcoin organization Cuba Bitcoin, tells Magazine. Cubans are turning to Bitcoin because their money is increasingly worthless. Zimbabwe, Venezuela and Lebanon [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":62055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[40],"tags":[68,69,17895,146],"class_list":["post-62054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-cointelegraph","tag-magazine","tag-ontheground","tag-report"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/10\/MAgazine-Cuba-story-scaled.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/62054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62054"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/62054\/revisions"}],"predecessor-version":[{"id":62056,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/62054\/revisions\/62056"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/62055"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62054"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}