Tech investor Balaji Srinivasan is urging the cryptocurrency industry to develop more financial tools for refugees and stateless individuals. Srinivasan, former chief technology officer at Coinbase, noted that the number of displaced people is likely to increase due to intensifying global conflicts and economic migration.
He described crypto as operating in “wartime mode for the internet,” emphasizing that decentralized networks are built to function even under adverse conditions like cyberattacks or infrastructure failures. Srinivasan believes blockchain systems can provide essential financial infrastructure when traditional institutions falter.
While acknowledging that the crypto industry has historically focused less on refugee needs, Srinivasan pointed to the growing adoption of stablecoins as a borderless digital currency. He stated that these tools already have significant global reach but emphasized the potential for further development to assist those displaced by conflict and instability.