A handful of charities have used digital currencies to send relief directly to those in need in Venezuela, circumventing banks and companies that handle remittances.
In this April 11, 2019 photo, Bertha Dun shows medicine bought with cryptocurrency through online transfers, in Barquisimeto, Venezuela, Thursday, April 11, 2019. Venezuela's political and economic crisis has now made it a prime testing ground using cryptocurrency to finance social projects or send relief directly to people living in poverty.
“I’m very grateful for what they did for us” Cordero said. “It would be a blessing if something like that were set up again.” GiveCrypto’s program provided temporary help to vulnerable families by providing them with a weekly deposit worth around $7 — or about the same as Venezuela’s monthly minimum wage. The organization is also aiming to make people familiar with crypto apps so they can transfer their own earnings into digital currency and use it to buy goods, long after they have stopped receiving free deposits.
In Barquisimeto, Leticia Luque, an informal merchant, said she began to accept crypto payments two months ago at the request of a social worker collaborating with GiveCrypto’s direct transfer scheme. She said the technology has helped her gain time to barter for better prices with suppliers and plan what she will buy next.
The one-time payment of no more than $10 a person will provide only momentary relief. But the goal is also to encourage Venezuelans to engage with the AirTM platform.
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