Lebanon Locals Explain How Cryptocurrency Can Save Their Country By DailyCoin – Investing.com
- Date: 28-Nov-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Lebanon
Lebanon Locals Explain How Cryptocurrency Can Save Their Country By DailyCoin – Investing.com
On November 24, 2021, financial journalist Omar Tamo wrote that “the Lebanese lira crashed to its all-time lowest market value against the US dollar, with little-to-no sign of recovery.”
The economic crisis in the country has been going on since 2019. Because of the financial difficulties, people began transitioning to cryptocurrency. As it’s decentralized and free from governmental power, crypto provides an escape from Lebanon’s tragic situation.
Elie M., a 30-year-old Lebanese in an exclusive interview with DailyCoin talked about how people in his country struggle and how cryptocurrency is offering an escape for citizens, however, with many obstacles.
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