Cryptocurrencies as a lifeline: how decentralization supports people in crisis
Date: 2025-07-03 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
CEO of the P2P platform NoOnes Ray Youssef noted that the real engine of cryptocurrency distribution is people and communities that have been bypassed by the global banking infrastructure. They are switching to decentralized tools not out of curiosity, but to survive.
“If you want to see the real growth of Web3, go not to the offices of San Francisco, but to the streets of Lagos or the markets of Manila. There, technology is not an abstraction, but a part of everyday life,” says Youssef.
In the countries of Southeast Asia, sub-Saharan Africa, Latin America and some regions of Eastern Europe, the demand for decentralized solutions is growing due to currency devaluation and limited access to traditional banking services. In Africa, stablecoins like USDT or USDC help people preserve the value of their savings and transfer money freely. In Nigeria, cryptocurrency has long ceased to be a speculative instrument — it is used to pay for purchases and services.
In Vietnam, the Philippines and Indonesia, young people actively use P2E games, DeFi applications and AI wallets, often bypassing traditional banks. In Latin America, especially in Argentina, digital assets save families from hyperinflation, and international trade increasingly relies on stablecoins, leaving SWIFT behind. For Russians and Belarusians, cryptocurrency has become a window to the world when international settlements are blocked.
Youssef emphasizes: without people, these technologies are worthless. Smart contracts and DAOs can automate processes, but they require people to install equipment, check documents or explain how everything works. Even tokenization of real assets is impossible without human participation.
A good example is Eskom, an energy giant from South Africa, which is trying to cope with billions in debt and falling demand. The company is going to give up its excess capacity for data centers and bitcoin mining, studying the experience of the United States, where such schemes help stabilize the energy system. At the same time, Eskom is forced to spend hundreds of millions of dollars on diesel so as not to turn off the lights for millions of people.
While South Africa is deciding how to mine bitcoins, Tether has signed an agreement with the authorities of Zanzibar on the development of blockchain education and the introduction of stablecoins in local payments. The company wants to help Zanzibar create an accessible digital economy, focusing on youth and education.
According to Youssef, the role of a person is especially evident in Russia. Sanctions have given rise to a whole layer of freelancers and P2P brokers who rely on personal trust and work through Telegram or local platforms. While banks are closing their doors, people remain the last infrastructure.
“A smart contract won’t teach an old man how to use Bitcoin, resolve a dispute within the DAO, or create trust. That’s what community leaders and educators do,” says Youssef. His position is clear: technology should help people, not replace them.
