It is estimated that if things continue as they are now, in the years’ time, those who live under democratic principles and the rule of law, will comprise merely 26% of the global population, as for now India remains democratic.
These significant numbers are very much a result of major countries that have abandoned democracy openly like China, or secretly like Turkey, or that are thinking about it, like India and Brazil, who’s next move is anticipated.
The word comes from Ancient Greek and it is a derivative of two words: demos, meaning the populace, the common people, and Kratos, which means power, or strength.
Thousands of years later, societies grew larger, and the concept of representative democracy evolved We began electing certain people to the job of carrying our opinions to the legislature, and making decisions on our behalf.
With the internet also came another type of freedom — financial freedom.
This technology born out of the internet and expressing some of the radically egalitarian open philosophies, a free flow of information, freedom of speech, freedom of association on a transnational basis that transcends not just borders but every aspect of identity, without identity.
President Nayib Bukele claims that this will help the country, since many El Salvadorans work abroad and send money back home with huge transaction costs, and almost 70% of the population do not have a bank account.
For others bitcoin represents hope for the future: a future where even if someone lives in one of the most authoritarian regimes, they hold a piece of freedom in their digital wallets.