Being from a third wirld country myself I can attest to this. I only wish Cubans had had crypto currencies back when the communists started confiscating (stealing really) everything, down to watches and earrings from everyone escaping. Those who stayed also lost everything little by little as the economy was devastated and all private businesses confiscated and destroyed.
Today some small businesses are allowed but barely survive under the crushing regulations, bribery and lack of hard currency to buy raw materials in the world market.
I have many friends in Cuba who are investing what little they have in crypto. It's much better than keeping it under a mattress and saving it a bank is not an option, they'll just look for a way to prove you are a criminal and steal it from you. In Cuba everyone's a criminal because you need to buy illegally from the black market to survive, everyone lives with that legal uncertainty, even government officials have a damocles sword above them all the time.
There are three different currencies and a lot of uncertainty one of them will be taken out of circulation any day so people only save in dollars if at all. Commerce with the outside world is only allowed for the government.
Remittances are also ripe for disruption, to send 100 dollars you have to pay 110 to a shady agency in miami with connections to the cuban government and most of the fees go to build more prisons and pay for repressive forces. I've been helping my friends escape this situation by investing and using crypto and introducing them to steemit.
Regards Task!
Well that's the most depressing thing I've read in a while, and we have a clown for president. Here's to hoping everyone's situations improve.
I expect this president to keep economic and diplomatic pressure on the elite and take advantage of the current situation to push for real real change, hopefully democratic elections monitored internationally and where multiple parties are allowed, not just the communist one like now, or , hopefully democratic elections monitored internationally and where multiple parties are allowed, not just the communist one like now, or (hopefully democratic elections monitored internationally and where multiple parties are allowed, not just the communist one like now) or a toppling of the dictatorship.
Unfortunately, Obama threw them a lifeline after the collapse of Venezuela and extended the regime's grasp on power for many years. Socialist Obama was the worse thing that could have happened to Cuba right during the perfect time when Venezuela, the only lifeline they had collapsed. Hopefully Trump will negociate real change from a position of power rather than give everything away for nothing in return like democracy traitor Obama did.