Wednesday, September 28

“Cryptocurrencies are going to continue to increase their use in Venezuela,” according to Venezuelan economist and cryptocurrency expert By CoinTelegraph

© Reuters. “Cryptocurrencies will continue to increase their use in Venezuela,” according to a Venezuelan economist and cryptocurrency expert

The Venezuelan economist and cryptocurrency expert, Aarón Olmos, held an interview for the Digital Finance medium in which he stated that by 2022 the use of cryptocurrencies in countries like Venezuela will continue to increase for economic, social, and political reasons, “but , mainly, due to the international acceptance that these virtual currencies have had ”, he highlighted.

Olmos, who is CEO of Olmos Group Venezuela, a Venezuelan company committed to the formation, innovation and growth of the digital economy, stated during the interview that one of the characteristics of the nations that is repeated the most in the top 10 countries that make the most use of digital assets, of which Venezuela occupies the seventh position according to the Chainalysis firm, is that they present problems of inflation, hyperinflation, economic distortions, complex political situations and that they lack broadly democratic systems, and therefore: “Civil society knows that their money, work and investments are at risk. Consequently, these people put a high percentage of what they do in crypto assets. ”, He said.

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According to Olmos, in Venezuela there is what he described as “a big problem” and that is that there is no official figure of how many people use cryptocurrencies, however, in his opinion, the fact that many Venezuelans are playing on the platforms of NFT, to obtain profits and change it to fiat currency, or in the state of Táchira, and specifically in San Cristóbal, that a very high volume of transactions is carried out in Colombian pesos, and that in the south of the country, it is already public and It is notorious that transactions are carried out with him, this could be translated, according to Olmos, in that Venezuelans understood that through these channels they can protect the value of their work, save, receive international payments, remittances and carry out operations that allow them to generate profits. Digital Finance.

Read the full article on Cointelegraph

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