Vatican to investigate role of crypto currencies in human trafficking

HOME POLITICS GOVERNMENTS VATICAN WANTS TO INVESTIGATE ROLE OF CRYPTO CURRENCIES IN HUMAN TRAFFICKING

The Vatican is serious: In its ambitious agenda to put an end to the modern slave trade, the Papal State is targeting crypto currencies. At the Vatican Conference against Human Trafficking last weekend, banker and crypto expert Joseph Mari of the Bank of Montreal was invited to the Apostolic See. He should inform about Kyptowährungen as money laundering instrument in the swamp of the human trafficking. With this unusual advance, the pontificate now declares war on human trafficking in the digital realm as well.

Blockchain as an opportunity for Bitcoin formula

As paradoxical as it may seem, the Catholic Church and the digital Bitcoin formula future are not mutually exclusive. This is proven by an expert hearing in the Vatican that took place last weekend. Rather, the Catholic Church, in its fight against human trafficking and modern slavery, is now also taking a look at the digital world. As Coindesk reports, Joseph Mari, Senior Manager of the Canadian Bank of Montreal, was also a guest of the Pontifical Academy of Social Sciences last weekend. He was supposed to draw attention to the role of Bitcoin formula crypto currencies as money laundering instruments in human trafficking and answered questions from the churchmen. His expertise should now strengthen the back of the papal fight against human trafficking.

According to United Nations estimates, hundreds of thousands of people are sold illegally every year and exploited as slaves in employment. 21 million men, women and children worldwide work under duress. Meanwhile, forms of such modern slavery appear in different forms. While women and children often work as sex slaves, thousands pay off loans in modern debt bondage or are bound to employers by temporary employment contracts. The International Labour Organization (ILO) estimates their unofficial profits from such forced labour at almost 150 billion US dollars a year.

Thus the church dares a promising leap forward and will possibly extend its Bitcoin trader strategies also into the digital space

With his election as Pope in 2013, Francis put the fight against human trafficking at the top of the agenda of his papal leadership course. Here is the Bitcoin trader review about it.

Pope Francis wants to counter this together with the leaders of other faith communities: According to a joint declaration, human trafficking and slavery “for all time” should be part of the past by 2020.

Another item on Joseph Mari’s agenda was the opportunities offered by blockchain technology and crypto currencies in cashless countries. These could, for example, help populations in developing countries who lack access to banks and financial services.

“Blockchain and crypto currencies must be on the radar of the Church. They must be perceived and used as something current. The faster the learning curve is overcome, the faster we can begin to work against the risks we face, said the blockchain and crypto expert about the importance of technologies for the Vatican’s agenda as church development agencies.

The hearings were part of a three-day programme to focus on the fight against human trafficking and modern slavery. The event was attended by Cardinal Pietro Parolin, the diplomatic head and Secretary of State of the Vatican, as well as numerous members of the leadership of the Papal State.