The aftermath of the venezuelan crisis (and how crypto can help)

Diana Aguilar
Jan 25, 2019 · 3 min read
Image caption: Close up to hundreds of faces of protesters. The venezuelan flag is imprinted in most of the hats worn by the crowd. A sign says: “No more. For a free Venezuela”.

As the world already knows, Venezuela is going through a historic turn of events after over two decades under a regime widely recognized as a dictatorship. The consequences to this nightmare have hit so hard as the millions of hands knocking desperately on our neighbors doors in South America and all over the world, after having to flee our home.

But now, there’s finally a possible exit.

The details of this constitutional exit are publicly known but not understood by many outside the country. The misconception of the town-hall assembled earlier this month as a coup d’état is not only misinformation that makes the regime look like the victim, but also lies to the public, given the fact that right now the only remaining power elected by the people -the National Assembly- is on the constitutional right to take over the presidential role.

According to a recent interview by host Patricia Janiot to Juan Guaidó -president of the National Assembly and Interim president of Venezuela- in order to move forward, right now it’s being discussed the possible amnesty of Maduro and of military commands rebelling the regime before coming forward with a government of transition and later on, regain democracy through a presidential election.

And now there’s the question: What’s next?

How the crypto community can help

Moving back to the latest years of this humanitarian an economic crisis, Venezuela has inevitably become a target, an example, and even a punchline as a real use case for cryptocurrency.

Right now most venezuelans in the country are not in a position of holding money for investment, and while we do have more and more entrepreneurships using cryptocurrency as an alternative form of payment, is not even close to be something we use on our daily basis. Most of those who use cryptocurrency mine it and then exchange it for some Bolivares to get by, while the majority of the population has never used Bitcoin.

With the current regime flirting with dollarization since the launch of the Petro and after link it with the minimum wage, there’s a chance that we do turn into the use of cryptocurrency, or leave it behind as a mere resource to survive a crisis.

Now, everybody knows the Bitcoin-against-hyperinflation scenario. But what most people are missing out is that Venezuela’s situation is quite unique. You can’t tackle it by giving away some satoshis like I’ve seen some good-hearted organizations do. For example, there’s the well-known exchange AirTM, that has set a goal of giving away 10$ in cryptocurrency to 100.000 users in Venezuela, and that’s just. not. it.

Yes, we do need dollars, but while the situation makes each penny to be swallowed by the void of hyperinflation due to elevated prices (food and services prices increase even if the dollar value falls), simply sending money over just won’t do.

So this goes to anyone who feels like giving their satoshis or altcoins to a good cause: we don’t want your money, we want your help. Help is funding shelters, providing medicine, funding the reconstruction of hospitals, and reviving our factories because Venezuela does not want charity. My country wants to get back on its feet.

Receiving help, of course, means giving back. (“Oil!” exclaimed those people in the back insisting in US interference while ignoring prior russian, chinese and cuban interference in the last decades). Venezuela has much to offer, as it has proven in the past and even now, with many professionals giving their services in adoptive countries.

Also, the country could take advantage of it’s growing situation as a crypto haven, being home of various startups with cryptocurrency and blockchain. Also, the ideas for solutions in the educational, financial and political field are not scarce. The world has still much to learn from Venezuela, even now.

In the sight of all that might come from now on, the words of Loreth Saleth, one of the most famous victims of the regime, comes to mind: “(…)We are neither close and it’s not gonna be easy. It is and it will be difficult. It has to be. When we were little they used to tell us that nothing of worth is obtained without struggle and sacrifice. And this what we are fighting for is worth it. In fact, it’s the most valuable thing we have. It’s our democracy and our freedom”.

Diana Aguilar

Written by

Journalist. Technology explorer. Blockchain, cryptocurrency and pizza enthusiast.

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