This move can further boost $BTC Price towards $100k.

#BTC #Syria #News

Following the overthrow of the Assad regime, the transitional government in #Syria began a reconstruction process and Bitcoin was introduced. The Syrian Center for Economic Research suggested that #Bitcoin and other cryptocurrencies be legalized to stabilize the economy and attract foreign investments.
After the fall of the Assad regime, Bitcoin was suggested to the new administration in Syria for reconstruction purposes.
In order to overcome the economic structure, stabilize the country and bring foreign investments back, the Syrian Center for Economic Research made sure that Bitcoin and cryptocurrencies were legalized as soon as possible.
The institution's relevant report also emphasized that Syria needed to adapt to the digital world in order to achieve a solid economy. It was stated that e-commerce and cross-border digital payments would also be facilitated with the strong infrastructure that would be created.
Bitcoin, gold and dollar-backed CBDC…
While it was also suggested that a digital state currency be issued in Syria, it was stated that this currency should be backed by Bitcoin, gold or the US dollar. It was also suggested that “individual custody rights” be eliminated for privacy and security, as well as for storing their own digital assets.
The report also stated that Bitcoin mining could be done with the country’s energy resources.
#BTCRebounds95K #Binance250Million #USStateBuysBTC

In an effort to mend its war-torn economy, entice investors, and face global financial issues, Syria intends to digitalize its currency and legitimize Bitcoin.

As part of its grand strategy to restore economic stability to its war-torn economy and entice international investment, Syria is contemplating the legalization of Bitcoin and the digitization of the Syrian pound. Aiming to tackle economic instability, inflation, and financial exclusion via the implementation of blockchain technology and cryptocurrencies, the plan was proposed by the Syrian Center for Economic Research (SCER).

The World Bank has recorded a 60% decline in Syria's GDP since 2010, a result of years of conflict and economic mismanagement. People no longer have faith in conventional financial institutions due to the precipitous depreciation of the Syrian pound and the accompanying inflation. The SCER addresses this by outlining a comprehensive plan that incorporates digitalization of the Syrian pound using blockchain technology and the legalization of Bitcoin for financial transactions, trading, and mining. By using assets such as gold, US dollars, and Bitcoin as backing, this strategy hopes to stabilize the currency. Furthermore, in an effort to promote sustainability and avoid monopolies, Syria may mine Bitcoin utilizing its undeveloped energy resources.

Syria is not far from having cryptocurrency, yet it is often associated with questionable applications. Some groups have allegedly used Bitcoin as a means of financing, including the influential Hay'at Tahrir al-Sham (HTS). Some worry that crypto might be misused, despite the fact that the SCER's strategy aims to legitimate and control crypto use. To guarantee openness, safety, and responsibility in cryptocurrency activities, the plan stresses stringent regulation by the central bank.

Legalizing Bitcoin might bring substantial advantages to Syria if put into practice. Millions of Syrians depend on money sent from outside for their livelihood, and this would make remittances much easier. El Salvador's financial ecosystem might benefit from legalization if the government follows a strategy similar to Bitcoin's in attracting foreign investors and collaborations. Additionally, privacy and security would be improved if individuals could keep self-custody of their digital assets.

Syria has been unable to access global financial institutions due to international sanctions, but the decentralized structure of Bitcoin gives them an opportunity to circumvent these bans. Russian, Iranian, and North Korean actions are similar to this method; all three have used cryptocurrency to evade sanctions. But there are geopolitical concerns and the possibility of increased international attention if this strategy is implemented.

Investigations into Bitcoin's potential as a financial stabilizer are on the rise around the world. For instance, as a means of stimulating innovation, Switzerland has considered adding Bitcoin to its national reserves. Similarly, in the face of sanctions, Russian politicians have suggested amassing strategic Bitcoin reserves to support financial stability. Syria may learn a lot from these cases as it gets ready to join the bitcoin market.

There are a lot of obstacles in the way of the plan, despite its promise. Blockchain technology guarantees the transparency of transactions, but it will take time and money to create effective rules that prohibit their exploitation. Strict regulation and oversight are necessary to guarantee that digital currencies only facilitate lawful economic transactions and do not facilitate illicit ones.

A strong digital economy also requires heavy spending on cybersecurity and infrastructure. In addition, the geopolitical situation in Syria makes things more complicated. It is unclear how involved regional countries like Russia, Iran, and Turkey will be in the country's economic recovery in the long run, but they will certainly play important roles in the short term.

In the midst of economic misery, legalizing Bitcoin might provide hope to the Syrian nation. The general public would gain substantially from streamlined money transfers, more openness about government finances, and safekeeping of assets. All of these benefits, meanwhile, are conditional on the government being able to keep its word and impose rules.

Although the proposition put out by the SCER is daring and novel, it is nevertheless a high-stakes venture. Adopting Bitcoin and blockchain technology in Syria has the potential to be a game-changer, leading the country toward economic development, stability, and recovery if the plan is carried out as planned. But if not carried out with caution, the strategy runs the danger of making financial and geopolitical problems much worse.

#Syria #Bitcoin $BTC $ETH $XRP

Sau hơn một thập kỷ nội chiến tàn phá, Syria đang tìm kiếm giải pháp để ổn định nền kinh tế và khôi phục đất nước. Một trong những đề xuất táo bạo nhất đến từ Trung tâm Nghiên cứu Kinh tế Syria (SCER), kêu gọi chính phủ chuyển tiếp hợp pháp hóa Bitcoin và số hóa đồng bảng #Syria (Syrian Pound).

Mục Tiêu Chính Của Đề Xuất

1. Kiểm soát lạm phát:

• Giảm siêu lạm phát và ổn định đồng nội tệ thông qua việc số hóa và bảo chứng bằng tài sản thanh khoản.

2. Thu hút đầu tư nước ngoài:

• Tạo điều kiện cho dòng vốn quốc tế đổ vào Syria, hỗ trợ phục hồi kinh tế sau chiến tranh.

3. Xây dựng nền kinh tế số:

• Phát triển hệ thống ngân hàng tập trung và phi tập trung, thúc đẩy giao dịch minh bạch và bảo mật hơn.

Điểm Nổi Bật Trong Sáng Kiến

• Khung pháp lý tiền mã hóa:

SCER đề xuất thiết lập luật pháp để hợp pháp hóa giao dịch, khai thác $BTC và các tài sản số khác, tuân thủ tiêu chuẩn quốc tế và địa phương.

• Số hóa đồng bảng Syria:

Blockchain sẽ được sử dụng để số hóa đồng nội tệ, bảo chứng bằng vàng và dự trữ quốc gia, dưới sự quản lý của ngân hàng trung ương.

• Hỗ trợ doanh nghiệp và startup:

Sáng kiến khuyến khích quyền sở hữu tài sản, phát triển startup và thúc đẩy giao dịch thương mại điện tử xuyên biên giới.


Thách Thức Lớn Trước Mắt

Dù tiềm năng là rất lớn, kế hoạch này vẫn đối mặt với các rào cản như:

1. Hạ tầng công nghệ kém phát triển:

• Syria cần đầu tư mạnh mẽ vào công nghệ blockchain và cơ sở hạ tầng liên quan.

2. Nhận thức hạn chế:

• Công chúng và các doanh nghiệp địa phương vẫn chưa quen thuộc với tiền mã hóa.

3. Rào cản địa chính trị:

• Các lệnh trừng phạt quốc tế tiếp tục gây khó khăn cho nền kinh tế Syria.

Kỳ Vọng Trong Tương Lai

Ngoài đề xuất của SCER, tân Ngoại trưởng Asaad Hassan al-Shibani cũng đang tích cực kêu gọi dỡ bỏ các lệnh trừng phạt quốc tế để tạo điều kiện thuận lợi cho phục hồi kinh tế. Ông nhấn mạnh rằng các biện pháp trừng phạt hiện tại chỉ làm tổn hại đến người dân và cản trở sự phát triển.

Đề xuất hợp pháp hóa Bitcoin không chỉ là một giải pháp kinh tế mà còn mang tính chiến lược trong việc tăng cường hợp tác khu vực. Các quốc gia láng giềng như Thổ Nhĩ Kỳ và #Lebanon đã áp dụng tiền mã hóa, mở ra cơ hội hợp tác hoặc cạnh tranh để phát triển.

Lời Kết

Hợp pháp hóa Bitcoin có thể là cánh cửa đưa Syria ra khỏi khủng hoảng kinh tế, đặt nền móng cho một tương lai ổn định và thịnh vượng hơn. Dù hành trình phía trước còn nhiều khó khăn, đề xuất này thể hiện sự quyết tâm và tầm nhìn của Syria trong việc bắt kịp xu hướng kinh tế toàn cầu. Liệu Bitcoin có thể trở thành “chìa khóa vàng” cho sự phục hồi của Syria? Câu trả lời vẫn đang chờ đợi ở phía trước.

As Syria emerges from decades of conflict and economic turmoil, its transitional government is exploring an unexpected avenue for recovery: cryptocurrency adoption. The Syrian Center for Economic Research (SCER) has proposed an innovative strategy that places Bitcoin at the heart of the nation's economic rehabilitation efforts.
The devastating impact of prolonged warfare has left deep scars on Syria's economy, with World Bank data revealing a staggering 60% contraction since 2010. Hyperinflation has ravaged the Syrian pound, pushing citizens away from traditional banking and toward alternative financial solutions. Against this backdrop, the SCER's proposal represents a radical departure from conventional economic recovery approaches.
At the core of this ambitious plan lies a dual strategy: embracing Bitcoin as a legal tender while simultaneously modernizing the Syrian pound through blockchain technology. The proposal envisions backing the digital Syrian pound with a diverse portfolio of assets, including gold reserves, U.S. dollars, and Bitcoin holdings. This approach aims to restore confidence in the national currency while providing citizens with access to global financial markets.
Syria's abundant yet underutilized energy resources present a unique opportunity for Bitcoin mining operations. The SCER's framework emphasizes sustainable mining practices while proposing measures to prevent market concentration and ensure equitable distribution of mining benefits across the population.
The potential benefits of this crypto-friendly approach extend beyond immediate economic gains. For millions of Syrian expatriates sending money home, Bitcoin offers a promising alternative to traditional remittance channels, potentially reducing costs and increasing transaction speed. Furthermore, the adoption of cryptocurrency could help Syrian businesses navigate the complex landscape of international trade despite existing sanctions.
However, the path to cryptocurrency adoption is fraught with challenges. Syria faces significant hurdles in developing robust digital infrastructure, particularly in regions still recovering from conflict. The government must also address concerns about cryptocurrency's potential misuse by various actors, including militant groups that have reportedly embraced Bitcoin for funding.
The regional context adds another layer of complexity to Syria's cryptocurrency ambitions. Neighboring countries like Turkey and Lebanon have already established themselves in the crypto space, creating both opportunities for collaboration and potential competition. Their experiences offer valuable insights into the challenges and opportunities of cryptocurrency adoption in the Middle East.
Syria's interest in Bitcoin reflects a broader global shift toward cryptocurrency adoption. As nations like Switzerland contemplate including Bitcoin in their reserves and Russia explores cryptocurrency as a sanctions mitigation tool, Syria's initiative appears less isolated and more aligned with emerging financial trends.
The success of this bold economic strategy remains uncertain. Building a functional crypto economy requires more than just legislative changes; it demands substantial investment in infrastructure, education, and regulatory frameworks. Yet, for a nation grappling with economic isolation and currency instability, the potential benefits may outweigh the risks.
As Syria contemplates this unconventional path to recovery, its experience could offer valuable lessons for other nations facing similar economic challenges. The integration of Bitcoin into Syria's financial system, if successful, might not only aid its economic revival but also establish a new model for countries seeking alternatives to traditional financial systems.
While the outcome of Syria's cryptocurrency experiment remains to be seen, one thing is clear: the intersection of digital currency and economic recovery presents both unprecedented opportunities and formidable challenges for nations in crisis.
#Syria #SCER #bitcoin #BTC #CBDC $BTC