How are you? By Allah's grace, I'm doing very well. In many countries of the world, the same amount of remittances are received illegally, i.e. through Hundi. A survey shows that in 2022 country X (the country is called X for the convenience of understanding) remittances through legal channels are 21 billion dollars, that is, 21 billion dollars are also received through hundi.

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If this money could be brought in a legal way, then country X would not need loans, gas and electricity prices would not increase, prices of goods would not increase, but there is only one way to save from these things is to make cryptocurrency legal (because cryptocurrency is illegal in X country). Now many people can think about how the cryptocurrency will reduce the hundi? The cause of all the problems at present is the dollar crisis, let us explain a little about the origin of the dollar crisis. Then you can understand how cryptocurrencies can lead a country to progress. If a country wants to become a middle income country then it should have all the advantages. Such as oil, gas, electricity, daily necessities etc. But few days ago Ukraine Russia war was organized. Russia, Europe, America supply the most oil and gas to the whole world. Due to Ukraine's conflict with Russia, Russia stopped providing oil and gas here. As a result, factories in Russia were closed. Eason for some the volatility in the economy and to reduce the volatility the US dollar raised interest rates.

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Rising interest rates cause problems among countries. If a country needs dollars, that country has to take dollars from America. Since America has increased the interest rate of the dollar, it is not able to take the dollar as before and even if the dollar rate is higher, then there is the problem of hundi. With these things, a country becomes a dollar crisis, but now the question is how will cryptocurrency help to solve the dollar crisis? The impact of the Russia Ukraine war has reached the whole world, in this case the rest of the countries have nothing to do but what a country can do is to reduce the amount of hundi. But it is also true that Hundi is very popular, the reason for the popularity of Hundi is that the rate is high as well as quick access to money, everyone is very much dependent on Hundi, but both these benefits are provided in cryptocurrencies. By using cryptocurrency, the government of a country will get the entire hundi. As a result of which a country will not need to take a loan and the conditions will not be met, the country's condition will improve and not deteriorate. Again, it cannot be thought that all problems will be eliminated through the use of cryptocurrency. See everything has its pros and cons, money laundering is possible with cryptocurrencies. It is impossible to stop them forever but if the crypto sector is well looked after by the government then money laundering will not happen.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.