Post
Topic
Board Economics
Re: Can bitcoin help rebuild Venezuela? - Darb Finance
by
7788bitcoin
on 12/08/2019, 16:19:09 UTC
Certainly Bitcoin and other cryptocurrencies will be a key factor in rebuilding Venezuela but we must emphasize the need for their Government to initiate drastic reforms, good governance and formulate new socio-economic policies to help alleviate its situation right now.
It is a hard task to reform Venezuela from this slum, it is the biggest crises the world has seen and it is mainly due to bad governance and corruption and if you continue those bad policies for a while even if you are oil rich you will reap what you sow, bitcoin can help the citizens up to a certain point in trade and commerce and they could convert their wealth and store in bitcoin than their local currency.


Being a top oil producer in the world and an OPEC member, it has a rich oil resources that can make the life of every Venezuelan more comfortable and its somewhat ironic why they are in a crisis right now?
If there is bad policies and corruption for years and their income starting going down because of the oil price going down and the expenditure still continue to rise without any actions then you will end up like Venezuela.