December 15, 2019 by Antoine
Alex Gladstein, the head of the Human Rights Foundation, spoke about a potential use of Bitcoin in a recent episode of The Scoop. Suggested by the Open Money Initiative, the use of Bitcoin is a method of saving to support the citizens of venezuela in financial difficulty.
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The defenders of human rights are based on the Bitcoin
Currently, the venezuelan government interposes itself in the humanitarian aid coming from abroad, so as to ensure that no humanitarian organization can send funds.
However, the use of bitcoins can not be prohibited and it is a means through which the Human Rights Foundation plans to provide support.
International agencies and non-profit organizations are free to convert their fiat currencies into bitcoins to send them on the local markets. Once transited in Venezuela, the crypto-currency is converted into bolivars.
Moreover, the markets are peer-to-peer are quite functional on the territory, which facilitates the exchange between fiat currency and bitcoins.
The political resistance of Venezuela
The emerging sector is facing a difficulty of size, which is the mistrust of the government of venezuela vis-à-vis the rest of the world. Large organizations such as the world Bank may fear the reaction of the leaders; even if they are willing to adopt new technologies .
“We could get a lot more resources to Venezuela today if the main aid agencies planned to send and receive the Bitcoin, but they will not do it,” said Gladstein.
The other hand, the market for peer-to-peer popular LocalBitcoins is available only on computer and not on mobile phone.
However, a large number of venezuelans do not have a laptop computer and power failures are an integral part of daily life in Venezuela. The economic slump has claimed many victims in the country.
The Open Money Initiative is active to solve these recurring problems, by asking for the support and engagement of the private sector in this movement.
Alex Gladstein said :
“It is very important to show that certain things, such as the Bitcoin have an impact and are useful tools to help people. It is important to get out of the bubble of the industry of crypto-currencies and show the general public that this can make a difference “.
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