LGBTQ+ Supports

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Individuals identifying as lesbian, gay, bisexual, transgender, queer/questioning (LGBTQ+) have faced numerous social and economic challenges throughout history. Despite significant strides towards acceptance and equal rights/opportunity in different parts of the world, harassment, violence, and systemic barriers to social and economic inclusion persist. 

Social Challenges

Harassment and Violence: Members identifying within LGBTQ+ continue to face harassment and violence in many parts of the world. According to a report by the Human Rights Campaign, more than 2,000 LGBTQ individuals were killed in 2020 alone. In the United States, a Pew Research Center survey found that 40% of LGBTQ individuals have experienced harassment or discrimination in the workplace.

Lack of Legal Recognition: Many countries lack legal recognition for same-sex relationships or gender identities, leaving individuals vulnerable to discrimination and violence. For example, homosexuality is criminalized in over 70 countries, and in some areas, individuals can face the death penalty.

Health Disparities: The LGBTQ+ community faces significant health disparities, including higher rates of mental health issues, substance abuse, and HIV/AIDS. These disparities are often linked to experiences of social exclusion and trauma, and are compounded by a lack of access to healthcare and insurance, as well as stigma and discrimination within healthcare systems.

Economic Challenges

Workplace Discrimination: As mentioned earlier, workplace discrimination remains a significant issue for LGBTQ+ individuals. This can lead to lower wages, fewer job opportunities, and limited access to benefits.

Economic Inequality: Members of the LGBTQ+ community are disproportionately represented among low-wage workers and the unemployed. A study by the Center for American Progress found that LGBTQ+ individuals are more likely to live in poverty than their heterosexual counterparts.

Financial Exclusion: Financial institutions have historically discriminated against LGBTQ+ individuals and groups, denying them access to credit, loans, and other financial services. This can lead to a lack of financial security and limited opportunities for economic advancement.

Bitcoin offers several advantages that can benefit individuals identifying as LGBTQ+ and businesses and organizations working in and serving the broader LGBTQ+ community. community:

Safety and Privacy 

Bitcoin provides a level of privacy and security that traditional financial systems cannot match. Transactions on the Bitcoin network are pseudonymous, meaning that users can maintain their anonymity while conducting transactions. This is particularly important for members of the LGBTQ+ community who may face persecution, harassment, or violence due to their sexual orientation or gender identity. By using Bitcoin, individuals can protect their privacy and keep their financial information safe from prying eyes.

For example, the Human Rights Campaign (HRC) Foundation's "Growing Up LGBT in America" study found that nearly one in four respondents reported experiencing financial difficulties due to their sexual orientation or gender identity. Bitcoin can help alleviate these financial burdens by providing a secure and private means of transferring funds.

Human Rights and Advocacy

Bitcoin can also be used as a tool for human rights advocacy and support. The decentralized nature of the Bitcoin network means that it is not subject to the same regulatory constraints as traditional financial systems. This allows organizations to bypass oppressive governments and financial institutions that may restrict their ability to provide support and resources to marginalized communities.

For instance, the BitGive Foundation, a non-profit organization that uses Bitcoin to support various charitable causes, has partnered with organizations like Doctors Without Borders to provide humanitarian aid to regions affected by conflict or natural disasters. Bitcoin can be used to support similar efforts within the LGBTQ+ community, providing critical resources and assistance to individuals who may be at risk due to their sexual orientation or gender identity.

Financial Inclusion

Traditional financial systems often fail to provide adequate services to marginalized communities, including the LGBTQ+ community. Bitcoin can help bridge this gap by providing financial inclusion and access to financial services that may be unavailable through traditional channels.

Globally, more than 1.7 billion people are unbanked and lack access to basic financial services, including bank accounts, loans, and insurance. Bitcoin can help address this issue by providing a decentralized, peer-to-peer system for transferring value. This can be particularly beneficial for members of the LGBTQ+ community who may face discrimination or exclusion from traditional financial institutions.

Bitcoin can be used as a powerful tool to support LGBTQ+ individuals receiving services and supports, including education that empowers individuals and groups to use Bitcoin for privacy, safety, mobility, and financial inclusion. LGBTQ+ serving organizations should partner with educators and ally organizations to develop Bitcoin strategies and to build organizational capacity in this area.

Bitcoin can be used to support the organizational development of LGBTQ+ advocacy groups and non-profits. By utilizing Bitcoin, organizations can reduce costs associated with traditional financial transactions, such as transaction fees and exchange rates. This can help free up resources that can be used to support critical programming and initiatives. It can also support organizations in jurisdictions where LGBTQ+ identity and interaction is criminalized to avoid censorship and persecution.

Lastly, the role of Bitcoin as a long-term savings technology also provides LGBTQ+ organizations with a new tool for organizational stability and growth. Organizations should consider adding Bitcoin as a treasury reserve asset for future financial growth. This offers the potential to achieve greater financial stability and grow service capacity in future.