Amid a financial crisis in Lebanon, citizens' ability to withdraw money from their own bank accounts has been restricted in order to avoid a banking collapse amid rising #inflation rates.
Videos have circulated showing citizen attempts to break down bank doors, having lost control and access to their own assets. The ongoing situation offers insights into the weaknesses of large institutions such as banks that were intended to act as stable, secure forms of storage for one’s hard-earned money.
#Blockchain technology poses the opportunity for financial empowerment and autonomy without having to rely on banks, with #Bitcoin often cited as a hedge against inflation due to a cap on the number of coins to be circulated.
