Crypto Money Usage Increases in Venezuela
The President of the Latin American Cryptoeconomics Association says that the use of crypto currency in Venezuela has risen dramatically and Petro, the country's digital currency, plays an important role in this process.
President of the Latin American Cryptoeconomics Association Ricardo Baptista recently participated in a broadcast by Union Radio. At the time of the publication, Baptista talked about digital coins and their use in Venezuela.
Baptista stressed that Venezuela is experiencing a serious economic crisis and is trying to use digital money to overcome this crisis. He says that the Venezuelan people adopted the crypto currency very quickly:
"We currency received a heavy blow to the bolivar. We are currently studying financial technology and are trying to create a bolivar that is valuable because it is not a piece of paper but a digital entity."
According to statements by Baptista, citizens who want to avoid the heavy effects of the economic crisis find the solution in crypto currency. So much so that the Venezuelan people use crypto money not only for investment purposes but also for shopping in general. Baptista comments on the subject:
"The people of Venezuela can use crypto money for online payments and online products. Crypto currencies are also used by entrepreneurs in various sectors in Venezuela. "
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