Venezuela is a country that has literally sunk into the financial downtrend. It has it's socialist roots which seems to fail in the real world application. However this is where crypto has played a big role. A lot of interesting things have been noticed in that country which has plenty of sanctions on them, economy struggling and also foreign investments are done with a lot of caution. How come this economy manages to stay afloat in such inflation times?

I am not saying the economy has changed to some stable developing nation but it has changed since last 15 years. They are far from perfect. But they seem to have shown the strong signs of crypto adoption far more than any other nation out there.

I have found out few cryptocurrency tokens helping a lot of Venezuelan citizens change their financial life. Who knows this same approach may work with many other near-bankrupt nations? So let's talk about it.

Dash

I think the biggest crypto out there in the Venezuela is the dash. In fact official govt. CBDC like implementation makes use of the Dash in circulation there. So instead of opposing the crypto the govt over there is allowing it in circulation which kind of help them against global inflation. So tourism, international trade through crypto against USD value eventually helps them out.

This goes to show that Dash has proven itself in a struggling economy and kind of standing as a pillar to support such type of the financial system. I am pretty sure if this continues at a growing rate they would try to change their economy in near future.

Bitcoin Cash

Second most popular crypto in the Venezuela is BCH. A lot of POS system and the places of services make use of BCH. The adoption of BCH is getting very strong in small populated places too. And that is because extremely low fee which many cryptos don't offer in todays time. I follow some of the twitter accounts like - Bitcoin cash City and few others. Where I learned about how the Venezuelan business accepting BCH has changed their business.

I feel the BCH is one of those coins which has means to change many struggling economies and business. In fact if people were to pay during the dip times using the BCH and the value appreciates in future, that would change many lives as market improves.

STEEM and some Stablecoins...

I was talking to one of the Steem member from Venezuela. He mentioned how Project HOPE has helped them and how they have managed to push other people in the country for adopting the content based crypto platforms. Every dollar and cent adds up to change the life. Stablecoins like BUSD and the USDT has been helping some users too as most of the STEEM is often converted into that BUSD or USDT as people choose to withdraw the funds. I don't know if there are users who are heavy on Hive and other small cryptos.

Writing content, building value to the blockchains that reward with the tokens can be one of the ways you are helping your own financial life as well as helping the nation combat the hyperinflation. When people choose to run away from the Nation for better life, some people have to stay behind and fight this using the content creation to earn crypto or simply use and trade crypto to fill gap created by the hyperinflation in the due process.

I hope many other Asian, African and south American nations who are struggling on global poverty, hunger and other lifestyle issues INDEX should adopt crypto and try to help their own society in the due process.