Over the years, crypto has become the flagship financial resource in conflict zones. After a Hamas assault which reignited the outbreak, the fighting continued and Israeli citizens were paying the price. To remedy this and support the war efforts, a group of companies decided to take matters into their own hands and launched Crypto Aid Israel.
Gaza Strip, the war resumes with a vengeance
Conflicts between Israel and Hamas have lasted for decades, however, an attack by the group that controls the Gaza Strip has reignited the situation. Indeed, the Gaza Strip, which is home to more than 2 million Palestinians, has been the target of an Israeli economic and military blockade since 2007.
Hamas, which is a terrorist group according to the US government, opened hostilities by launching a multi-pronged assault on Israel last Saturday. Shortly after, the Israeli government decided to take matters into its own hands by declaring a state of war. From a general point of view, this is only a logical response but as we know, who says war says citizens in danger.
And as the losses pile up, it becomes essential to find solutions to support the country’s inhabitants. And in this momentum, it seems that crypto is the key to financing. Both sides are apparently considering using digital assets to cover humanitarian needs.
Crypto at the center of the conflict: the long-awaited economic solution?
In the midst of the state of war, a group of Israeli companies decided to launch Crypto Aid Israel, a humanitarian crypto fundraising effort to support afflicted citizens. This effort includes, among other things, the provision of shelter, medical products and food.
Launched Monday, the campaign is supported by many companies. Notably Fireblocks, MarketAccross, Blockchain B7, CryptoJungle and even Efficient Frontier. For the smooth running of the project, Crypto Aid Israel will host a multi-signature crypto wallet. The latter will allow the collection of donations which can be made in ether (ETH), bitcoin (BTC), USDC, USDT and many other assets.
However, Israel is not the only one counting on crypto in this sense, as Palestinian support groups have also thought about it. In 2021, the United Nations Relief and Works Agency for Palestine Refugees (UNRWA) partnered with a crypto donation platform, The Giving Block. Additionally, rumors accuse Binance of having ties to Hamas, which speaks volumes about their crypto adoption.
More than 1,300 people have lost their lives since fighting began this weekend. While conflicts are increasing in the world, crypto is taking a prominent place while governments still tend to eradicate them.
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