According to multiple sources, one of Venezuela’s in
Simon Bolivar International Airport is reportedly working to allow cryptocurrency payments in accordance with local regulations. The airport is located in the center of the capital Caracas.
Freddy Borges. The director at the airport says they look forward to the introduction of $ BTC, $ DASH, and even local oil-linked digital currencies. Borges said
“We have to move forward in these new economic and technological systems in order to be accessible.”
Venezuela is a prime example of what a centralized and corrupt system can do to one of the richest countries in the world. Venezuela has some of the largest oil and diamond reserves and was once considered a developed rich country. However, corruption combined with financial mismanagement has resulted in the greatest hyperinflation in the modern world. As a result, the value of the Bolivarian currency continued to decline, so bills were thrown on the street and used as artifacts.
Many financially troubled countries have turned to crypto for a resurgence, be it Iran, which is using BTC to evade international sanctions, or El Salvador, which is making $ BTC legal tender. France and many other countries are also working to Integrate crypto support.
Important NOTE: All content on the website is for informational purposes only and does not constitute investment advice. Your money, the choice is yours.
The South American country’s funding approach seems to favor cryptocurrencies and digital currencies, as Venezuela is the first country to launch its own digital currency, the Petro. Unlike traditional CBDCs, the Petro is not based on local Fiat and is backed by oil reserves. However, government failure and enforcement did not bring great success. The government will retest the Petro when it launches a new program on October 1st.
“The bolivar will not be worth more or less, in order to make it easier to use it is brought down to a simpler monetary measure,” the central bank said.
Venezuela’s international airport isn’t the first to accept Bitcoin. In August, the Venezuelan airline Turpial Airlines accepted Bitcoin for airfare payments, while Caracas Air, the country’s largest flight training academy, offered discounts to customers who pay with Bitcoin.
The food industry also took advantage of the popularity of cryptocurrencies in the country when Pizza Hut began accepting Bitcoin and Ethereum payments in November 2020.
In January 2021, Burger King accepted Bitcoin and DASH as payment in 40 restaurants across the country.
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…
With the platform facing a cracked whip, Trump Media company is expanding into new business…
Major crypto firms, including Ripple, Kraken, and Circle, are competing for spots on President-elect Donald…
Analysts highlight a breakout alert as Shiba Inu (SHIB), and Dogecoin show signs of recovery…
SEC Chair Gary Gensler will step down on January 20, 2025, coinciding with President-elect Donald…
The MicroStrategy convertible notes offering, initially set at $1.75 billion, was increased to $2.6 billion…
This website uses cookies.