Cryptocurreny's effect on economic sanctions
Economic sanctions have been a key part of the United State's arsenal in enforcing its will overseas without resulting to military conflict. After reading about the increasing volume of crypto being purchased in Iran as their economy gets hit by renewed American sanctions, I've been wondering how crypto will effect economic warfare and geopolitics. I think it is fairly clear that if cryptos gain widespread adoption the threat of a nation being removed from the SWIFT system is going to be less and less effective in forcing behavior. Do you all think this will lead to an increasing number of military conflicts to try and resolve disputes, or do you think that removing the capacity to economically box out a nation will actually prevent conflict? Personally, I think that the declining prevalence of the petrodollar would cause America to be quicker to military action to preserve its declining geopolitical influence. That being said, I am neither economist nor politician. What do you think?
Btw this is the article I read about Iran and crypto: Iran’s Bitcoin Volume Soars as Rial Value Enters ‘Death Spiral’
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