Yesterday, at the Concordia Summit, the annual event held during UN General Assembly Week, Paystand CEO and co-founder Jeremy Almond argued why Bitcoin is important for people living outside the borders of very developed countries, and why it helps meet the UN Sustainable Development Goals (SDGS).
At an event that brings together government, businesses and nonprofit members to discuss solutions to some of the world’s most pressing problems, Almond appeared on a panel titled “Friction-free finance: Unlocking capital through digital assets.”
“Whether it’s Peruvian indigenous villages or El Salvador towns, these are community-driven grassroots efforts that are taking place from the bottom up,” Almond mentioned the audience at the Sheraton Hotel, just north of Times Square in New York, and the efforts of Motiv Peru, part of the original Bitcoin economy.
He added that Bitcoin adoption is growing faster than the Internet adoption, and that Bitcoin is “now changing the lives of millions of people across the globe.”
Bitcoin as a catalyst for the United Nations Sustainable Development Goals
According to Almond, despite the fact that Bitcoin can accelerate the pace at which people meet the UN SDGS, we rarely hear such rhetoric at UN or non-adjacent events.
Here and there, you may read about the United Nations taking into account the potential benefits of “digital assets”, “stablecoins” and even CBDCs, but in many cases institutions rarely recognize or cast bitcoin in negative light.
But Almond is watching Bitcoin – what he called “freedom money” from the stage and a great enabler to save people all over the world, many of whom have no access to traditional financial services – as a way to help people meet with the UN SDG more quickly.
And he was a great candidate to deliver such a message, as his company is Paystand, the largest inter-business (B2B) blockchain-based payment company in the United States. 10% of that profit will be donated to Paystand.org.
“We believe that Bitcoin’s circular economy is the main catalyst driving many of the UN’s goals,” Almond told Bitcoin Magazine. “But instead of coming to it through charity, they’re creating agencies.”
According to Almond, Bitcoin not only helps achieve certain outcomes, but also speeds up the process they do so.
“What does the UN believe in? Access to education, access to technology, access to employment, access to financial literacy are factors that will lead to better outcomes for people,” he said. “When studying the circular economy of Bitcoin, what you’ve found is that Bitcoin is a catalyst that accelerates those outcomes.”
Almond shared what happened in Bitcoin Beach, a community supported by Paystand.org, as an example. He focused on the importance of Hope House, a community education center.
“Hope House started with Bitcoin education, general literacy and tourism,” explained Almond.
“The kids are now a little older and we have a new program that teaches us about technology and computers,” he added.
“Now they’re getting an internship at a Bitcoin Mining Company.”
Almond also cited the work Bitcoin Dada does not only introduce African women to Bitcoin, but also helps them find work in the industry.
Helping Global Leaders to Recognize Bitcoin
While in the town for UN General Assembly Week, Almond will meet with global leaders and policymakers to help them understand the impact that Bitcoin has on members, particularly its most vulnerable effects.
“National state leaders are more engaged in Bitcoin than ever, in addition to at least a decade, and in addition to what I’m doing,” Almond said.
“Ultimately, leaders follow what their members are looking for,” he adds, hinting at the notion that people at the bottom of the economy of most countries are simply looking for the kind of opportunities that Bitcoin and its surrounding industries can offer.
“Bitcoin provides access to work, technology and financial literacy on the basis of its district.”
Almond also described how policymakers struggle to address the needs of people at the bottom of the economic pyramid. In particular, its demographics have little economic impact on GDP.
But when he shows these leaders and policymakers the impact that Bitcoin’s circular economy has on community members, he rarely denys the impact they have, and they quickly become followers.
He is excited by the prospect of having more followers while in New York.
“Whenever you can talk to governments and UN leaders about how Bitcoin is used in the real world, because we’re talking about why Satoshi created Bitcoin in the first place,” Almond said.
This post Bitcoin Circular Economy has been highlighted at the UN General Assembly Weekly event, first featured in Bitcoin Magazine and written by Frank Colva.
