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WikiLeaks Sidestepped VISA, MasterCard With Bitcoin

According to Jon Matonis at Forbes.com, Wikileaks has managed to get a gasp of temporary financial air by using Bitcoin to receive monetary donations. The United States government continue its efforts to blockade the whistle-blowing site by directing major financial institutions like VISA, MasterCard, PayPal, Bank of America, and Western Union from not to allow transactions for WikiLeaks.

The financial blockade is now entering its 629 day, following a flood of embarrassing U.S. diplomatic cables in November 2010. The site’s founder, Julian Assange, is currently holed up in the Ecuadorian embassy in London after he sought asylum there last June.

Although private companies have the right to accept or deny which transactions to process or not, the financial institutions helping strangle the finances of WikiLeaks are being influenced by the U.S. government. Many activists supporting WikiLeaks see this move as less than fair, and not the last time to happen.

Fortunately for WikiLeaks, there is another way to circumvent the financial blockade which is immune to monetary censorship and political pressure.

Wikileaks has reportedly received over $32,000 or roughly 1,100 different bitcoin donations throughout the financial  pressure. The said amount does not include Bitcoin addresses generated individually that the organization provides for donors upon request. One Bitcoin currency equals to $10.00.

The site has also found an ally in a French monetary system named Carte Bleue, the country’s national credit card system. WikiLeaks said that Carte Bleue have contracts with VISA and MasterCard not to cutoff merchants from their system. Also, a French non-profit organization called FDNN (Fund for the Defense of Net Neutrality- Fonds de Défense de la Net Neutralité) has set-up a Carte Bleue fund for the beleaguered web site.

 Source: Forbes.com