The Russian Conflict and the Crypto-Morality-Freedom Trilemma

Exploring the Role of Cryptocurrencies in Balancing Morality, Freedom, and Global Politics.

Freedom is a wonderful thing to strive for, and something we all deserve. However, we also need to strive not to abuse it. Otherwise, how can we expect to coexist peacefully and still enjoy our liberties?

The Current Situation: Russia, Ukraine, and Financial Sanctions

What is happening with Russia during these days is the perfect example of this. Financial sanctions have slammed the country since Putin decided to invade Ukraine. The most recent one is the SWIFT ban. After the news, a lot of articles about Russia possibly bypassing the sanctions thanks to cryptocurrencies have popped up all around the internet. Crypto is the land of financial freedom, after all, but how is this fair?

The Two Sides of Crypto: Empowering and Challenging

“Ethereum is neutral, but I am not”
— Vitalik Buterin, Ethereum Co-Founder

Crypto, though, is also being used to raise donations supporting Ukraine in these harsh times. It can’t be all bad, can it? It is, therefore, necessary that we give our best efforts to let everyone know that the crypto space is not a no man’s land used by criminals.

The Road Ahead: Striving for a Better Crypto Ecosystem

How can we limit the impact of bad actors in the system while still remaining close to the initial vision that Satoshi had when he gifted the world with this game-changing technology? That’s the real big question.

The blockchain, at last, is just a tool and it should be treated as such. What makes the difference is how we, the people, use those tools. But it’s clear to me that some changes are needed if we want this ecosystem to keep a balance between morality and freedom.