The death of George Floyd at the hands of Minneapolis police ignited a series of widespread riots throughout the United States. With more than 25 cities in lockdown, protesters and the police continue their violent clash.
People are protesting against supposed police brutality in a manner that’s everything but civil. Stores are being looted, and buildings burned as the protest against the system escalates. Amid all this, Changpeng Zhao, the CEO of Binance, pointed out one simple yet undeniable truth – “Bitcoin is the peaceful protest.”
Riots Getting Out of Control
At least 40 cities have already imposed curfews while members of the US National Guard have been activated in 15 states, according to a recent report. The increased scrutiny comes as a result of violent riots that were ignited after an African American George Floyd died at the hands of Minneapolis police.
The situation in the US continues to spiral out of control as many buildings across the country were set ablaze, and many stores were looted by rioters.
Videos from various cities in the country display the seriousness of what’s happening. Most recently, the Washington DC fire department extinguished a fire in the basement of St. John’s Church, also known as the “Church of the Presidents.”
Both sides of the story have their supporters, but the undeniable truth is that a lot of what’s happening looks more like an act of vengeance rather than an act of justice. The saddest part of it is perhaps that innocent people, in no way involved or responsible for what happened, are dragged into it this situation in the worst possible way.
A Peaceful Protest Against Failing Systems
While it’s clear what the rioters are protesting against, it’s probably easy to see that the violence is causing more problems than it’s solving.
Multiple businesses across the state have been looted and burned, causing massive damages to people who have nothing to do with what happened to Floyd.
At this point, it’s perhaps reasonable to ask whether or not there is a more civilized and peaceful way to protest.
Another example comes from a relatively different yet equally important field – economics. In light of what’s currently happening in the US, the CEO of the world’s leading cryptocurrency exchange, Binance, outlined a very simple truth: Bitcoin is the peaceful protest.
#Bitcoin is the peaceful protest.
— CZ Binance 🔶🔶🔶 (@cz_binance) June 1, 2020
Indeed, Bitcoin is a form of protest against existing monetary and economic policies. It’s a scarce digital asset that virtually eliminates the middle man. It’s also censorship-resistant as anyone can be a part of it, so long as they have internet connection. And yet, this powerful protest mechanism requires no violence, no fire, and no looting.
Another association came from the Co-Founder of Blockstream and well-known Bitcoin proponent, Adam Back.
“When Rome is burning, history does not care which factions are more wrong. Zoom out, the solution does not lie within the Empire.
Opt out, exit, leave. Build and drive Bitcoin adoption. Buy, hodl. That’s the most effective thing you can do. And it’s enough.”
In any case, this begs the question: isn’t there a peaceful way to handle what’s currently happening in the US?