[Future / Now] — People Brave Recession with a New Kind of Money
AI+News: stories written by journalists empowered by AI
A new financial crisis hits the world. Blaming banks and big corporations, people find a way to face the recession without relying on traditional financial systems: cryptocurrency. Bitcoin and other cryptocurrencies allow them to buy goods online and be part of an alternative economy that is based on the blockchain, which is decentralized and therefore outside of the control of governments and central banks.
This is already happening in countries like Venezuela, where the collapsing economy and the plummeting of the national currency have rendered the banking system completely obsolete.
This trend is very likely to continue in other nations facing economic turmoil, but cryptocurrency networks will need to become more accessible and stable in order to manage a bigger volume of transactions.
This story was written by a journalist empowered by AI.
The journalist is Giomar Silva (@G_SV), founder of Migrante21 (@Migrante21). Giomar has an extensive background as a reporter and editor in Peru and Washington, D.C. After covering stories about human rights, culture, technology and politics in Peru, he focused on immigrant and minorities issues as a web editor at Washington Hispanic, the largest Spanish-language newspaper in the D.C. area. His interest in these topics led him to found Migrante21, a bilingual website that aims to document the immigrant experience in America.
Minerva leverages news data collections available in the Web and uses Artificial Intelligence based on Machine Learning (AI/ML) to discover the multiple relations among global risks, a data-driven approach that is more appealing in terms of timeliness and efficient discovery of such relations than current methodologies based on opinion surveys.