Balaji Urges Crypto Industry to Build Tools for Refugees
Balaji Srinivasan called on the crypto industry to develop more financial tools for refugees facing instability from global conflicts.Summary
Tech investor and former Coinbase CTO Balaji Srinivasan urged the crypto industry to create more financial tools for refugees and stateless individuals, citing the potential increase in displaced persons due to intensifying global conflicts and economic migration.
Srinivasan argued that blockchain-based systems offer essential financial infrastructure when traditional institutions fail, describing crypto as the "wartime mode for the internet" capable of operating under hostile conditions like cyberattacks or financial restrictions.
His comments followed a critique by Andi Duro that the industry rarely builds for refugees because they are not seen as profitable consumers for gambling, though Srinivasan acknowledged the existing success of stablecoins like USDC, whose supply has recently surged amid capital flight from the UAE.
(Source：Cointelegraph)