Venezuelan economy

A Plan to Revive the Venezuelan Economy through Bitcoins is Ongoing

A Plan to Revive the Venezuelan Economy through Bitcoins is Ongoing

It is no longer news that Venezuela is one of the South-American countries with the worst economies at the moment. The present financial state of Venezuela has prompted Jonathan Wheeler, a former banker and currently a developer to kick-start a project which he believes will go a long way in helping stabilize the Venezuelan economy. Although Jonathan Wheeler has avoided giving out details about his plan, it basically involves helping Venezuelan citizens have access to the world’s number one cryptocurrency, Bitcoin. He plans to make this happen through a major airdrop.

Let’s look at the impact of this move to the Venezuelan economy;

 

Bitcoin Might be the Solution to the failed Venezuelan Economy

At the moment, it appears that the only way that the people of Venezuela can be saved from the financial tyranny that they are suffering from is through taking advantage of Bitcoin. It has become a norm for the government of Venezuela to arrest those that it believes have contrasting political views. Although this in itself is bad and the worst part of it is the fact that a ban has been placed on technologies that can be made use of by the Venezuelan citizens to by-pass its censorship. In addition to this, the Venezuelan government has launched its own digital currency. This currency has been presented by the government as a tool that will help the nation get out of its financial mess.

Jonathan Wheeler, being very much aware of how futile a political effort to save the Venezuelan people will be has decided to take advantage of Bitcoin to attempt to solve the economic crises that is currently being faced by the citizens of Venezuela. As it stands, Wheeler appears to have figured out a way to go about his plan to get Bitcoins into the hands of Venezuelans, and that plan involves the development of a mobile app known as Azul. The app is already being developed and should be completed by the end of the year. Although this attempt at helping the economy of Venezuela appears almost impossible, Wheeler believes so much in it and has even gone ahead to quit his job to enable him to have enough time to focus.

Wheeler is not the first to Attempt to save the Venezuelan Economy

Since leaving his job as a banker in February, Jonathan Wheeler has been able to get about 15 people to be a part of his team, and impressively, a lot of them are Venezuelans. Wheeler might be the only one with a plan like this at the moment, however, other crypto communities have attempted to help the Venezuelans in the past but have not succeeded. Although Wheeler is aware of the fact that others have tried this before him, he believes that they were not able to pull this through because of a lack of focus.

The Successful Development of Azul is not all that is required

Getting Bitcoins across to Venezuelans is much more than putting a team together and building an app, there are a lot of other things that will need to be put in place after this App are ready. Some of them include getting to know the consequences of introducing a digital currency into a country without the permission of the government and getting the people to know how to use Bitcoins. While on this, Wheeler and his team are looking to get the App ready and test it and look for ways to earn Bitcoins that will be passed on to the Venezuelans.

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