the In an Interview with the Technology Review of the Venezuelan Journalist Carlos Hernández explains how Bitcoin will help him in his economic struggle to Survive in the country. The Bolivar, Venezuela’s crisis-ridden Fiat currency, no longer able to provide citizens with cash and food. The story of Carlos Hernández demonstrates the emancipatory Potential of crypto-currencies off-exchange transactions and speculation.

Polina Khubbeeva
At the 2. April 2019BTC$5.010,06 19.71%part Facebook Twitter LinkedIn xing mail

„is The easiest way, if I can convince an employer to pay me in Bitcoin or any other cryptocurrency,“ says the Venezuelan Economist Carlos Hernández in an E-Mail Interview from 1. April, which is printed in the Heise-offshoot Technology Review.

Hernández works as a freelance Journalist for many of the American media. His employers in Caracas, living 26 asks-Year-old to be in Bitcoin is paid.

Bitcoin as a solution for financial and political hurdles

In Venezuela, a severe economic crisis, the state President Maduro prevails for some time with modest success, other crypto-experiments in the Form of Petro.

in the face of Hyperinflation for the Venezuelan Bolívar would be, according to Hernández, „financial suicide“, his savings in Fiat currency. The highest Banknote is now just 15 US cents worth. ATM machines will work hardly, shops reject small Bank notes. In short: With the Venezuelan, it is almost impossible to pay for his daily needs of food.

He tried it first with PayPal, the 26-Year-old Hernández. To open a PayPal account without a US Bank account, whether in Venezuela, but hardly feasible. He then used the US account in the States living friend with the latter’s consent.

Later, Hernández is changed to the financial service provider Payoneer, which is the US Bank accounts. This Option of the Journalist, but only for large companies, which reject the use of BTC, because the conversion of Payoneer and PayPal money in Venezuelan Bolivar is associated with high losses. This money may not use Hernandez in Venezuela for the financing of his everyday life.

The Journalist relies instead on BTC, he is a Peer-2-Peer exchange. „So at least I have a Chance in the competition, the scarcity of goods to exist.“

Venezuela crypto scene has the Situation

in answer To the question of how people, the currencies with Crypto are not familiar with the Situation in the country to deal, answers Hernández:

There is actually a kind of arms race among the crypto-currencies in Venezuela, to see who can offer the most reliable and easiest method for your use. Digital wallets today are very easy to use. The difficult part of the exchange in Ciudad Bolivar and back. There is no shortage of manuals for these technologies, but crypto can be currencies for most of the already very intimidating.

glimmers of hope for the poor

Venezuelans like Carlos Hernández detach from the variations and defects of their Fiat currency as best you can. In order to create opportunities for the decentralised Organisation of a national economy, whose political leadership may fail to secure your Survival.

In a country where it is currently even to basic medical care for the population is lacking, you can donate to the crypto technology, people hope, by showing Alternatives.

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