Bitcoin-based rescue effort is offering aid to flood victims in Iran

Bitcoin-based rescue effort is offering aid to flood victims in Iran. Two weeks of heavy flash flooding in Iran in March and April damaged 269 cities and over 5,000 villages, displacing over 300,000 people, killing 78 and injuring 1,000, and causing $2.5 billion in damages. US sanctions have hampered aid organizations responding to the disaster (though humanitarian aid is normally exempt from sanctions). The grassroots campaign, IranRescueBit is a coordinated fundraising effort to assist the victims and accepts donations in Bitcoin and several other cryptocurrencies. Given the Bitcoin network’s global and decentralized infrastructure and lack of reliance on traditional banking structures, bitcoin can circumvent U.S. sanctions without fear of confiscation or financial blockade. Bitcoin Magazine