Native American Activism: Using Divestment as a Strategy
By Luke Flowers – Crypto Specialist
Although the Dakota Access Pipeline wasn’t stopped from being built, Standing Rock became a worldwide protest with people coming together to support indigenous people and their rights. When they could stand no longer, they used divestment as a tactic. They found that 17 banks were funding the project and supporters took their money out, holding the companies accountable for engaging in this activity. Buying crypto may have been one of the ways they could have divested had it been available.
Crypto buying is raising concerns to the fundamental models of traditional banks by taking out the financial middleman. Making money on fees and using the money to lend to others with interest, you can see how people want another option to store their money.
This is where buying and selling bitcoin can challenge our economy and with technology evolving many traditional industries now have competition. People adopting these new ways and distancing themselves from traditional banking could force the banks to change the way they operate. If our savings are kept in Crypto it then gives the banks a smaller pool of money to lend from. If we buy using Crypto then they make less money on debit fees. With Crypto using blockchain technology, it is a permanent record whereas traditional banking is open to manipulation held in a central hub. You can start to see how changing the way we use our money can encourage the more old-fashioned businesses to become more transparent through fear of becoming obsolete.
At BC Bitcoin, we can help you create your own divestment protest or crypto portfolio by showing you how to buy bitcoin and other digital currencies as the UK’s most trusted bitcoin broker.