In the midst of a severe economic depression and the devaluation of the Venezuelan bolívar, bitcoin cash (BCH) supporters have been teaching people about the benefits of using permissionless cryptocurrencies throughout the country. The BCH meetup in Venezuela has swelled to 349 registered participants and group coordinator Lizbeth Alviarez has recently detailed that dedicated members are doing everything they can to accelerate adoption in the area.
Encouraging True Adoption
Venezuela’s economy has continued to deteriorate with rising hyperinflation, causing millions of citizens to leave the country. Meanwhile, Nicolás Maduro, the man blamed for much of the country’s financial troubles, is about to take office for another six years. Maduro has also created a supposedly blockchain-based currency, the petro, that’s allegedly backed by oil reserves. However, despite the petro launch, many cryptocurrency proponents believe that real permissionless digital currencies can help Venezuelans escape the economic quagmire. Since 2014, many people have been trying to get cryptocurrencies like bitcoin core (BTC) and dash to gain traction in the region. Additionally, many crypto supporters have also been trying to spread bitcoin cash adoption in Venezuela because of the decentralized currency’s incredibly low transaction