Crypto Exchanges and Usage in Venezuela

g.a. Mercado
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writer • producer • director • adviser

Venezuelan Dark Blue Pill #004

 

By G.A. Mercado

As part of a continued effort by the Imperial Banking Establishment, sorry, I mean the U.S. Imperial Foreign Policy Agenda, the Trump Administration extended its unilateral but globally orchestrated financial embargo against the Venezuelan Government, by issuing on March 19th 2018 the executive order #13827 in which it forbids U.S. persons or entities residing on the U.S. any financing or dealings in any digital currency, digital coin, or digital token, issued or to be issued by, for, or on behalf of the Government of Venezuela.

Notwithstanding, 10 days later, the Bolivarian Government of Venezuela, ratifying its commitment to transform the country’s historically obsolete economic model by unleashing a stream of financial solutions enabled by the Blockchain disruptive innovation, started issuing operating licences to all of those new Crypto-Currency Exchanges that complied with the requirements established on the Integral System of Crypto-Asset Law.

RELATED CONTENT: PETRO, a Crypto Case Study

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Moreover, SUNACRIP not only created its own exchange, the PETRO App, in which PTR can be acquired, but it also developed and implemented a Crypto-Remittance System integrated with the Patria Platform, by accepting BTC and LTC.

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Most Venezuelans living on this land of grace have demonstrated an incredible and an everlasting resilience to overcome a fierce international financial blockade, not without the aid of the Venezuelan Government and their immediate relatives who send remittances from abroad.

RELATED CONTENT: KFC Venezuela Accepts Dash Cryptocurrency, Joining Subway and Papa John’s

The evidence is everywhere; most retailers across the nation have been pricing their goods and services in US dollars and surprisingly, many buyers are paying with dollar bills. Even two large food franchises (Subway and Church’s Chicken) and a large local retailer (Traki) are accepting a few different types of crypto-currencies.

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The 18 Million plus Carnét de la Patria already deployed are an unprecedented head-start that no other government nor any other crypto-currency issuer has or ever had on any given country.

Many crypto-enthusiasts, including myself, are eagerly awaiting for the Bolivarian Government to implement an effective program to drive a massive adoption of the PETRO across the entire retailer marketplace, thus stabilizing retail prices and stopping our currency devaluation.

 

Source URL: Medium

 

g.a. Mercado

writer • producer • director • adviser