Alejandro Machado

Alejandro Machado

Alejandro Machado

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Venezuelans Look to Crypto-Dollars for Financial Security
Blog iconAlejandro Machado
Aug 31
Venezuela is dollarizing: About 64% of transactions in the country take place in U.S. dollars now. The majority of these are cash transactions, as local banks don’t offer dollar checking or savings accounts for the masses. As a result, Venezuelans have to handle two kinds of suboptimal money: digital bolivars that quickly lose their value, and physical dollars that are dangerous to store in one of the world’s most crime-ridden countries. In theory, crypto-dollars should fill this space, and d...
Alejandro Machado

Alejandro Machado

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Alejandro MachadoAlejandro Machado

How to build more just financial systems, and other things I care about

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Alejandro Machado

Alejandro Machado

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Venezuelans Look to Crypto-Dollars for Financial Security
Blog iconAlejandro Machado
Aug 31
Venezuela is dollarizing: About 64% of transactions in the country take place in U.S. dollars now. The majority of these are cash transactions, as local banks don’t offer dollar checking or savings accounts for the masses. As a result, Venezuelans have to handle two kinds of suboptimal money: digital bolivars that quickly lose their value, and physical dollars that are dangerous to store in one of the world’s most crime-ridden countries. In theory, crypto-dollars should fill this space, and d...

Alejandro Machado

Written by
Alejandro Machado

How to build more just financial systems, and other things I care about

Subscribers<100
Posts1
Collects0

©️ 2025 Paragraph Technologies Inc

Privacy policyTerms of useDiscover great writing

Alejandro Machado

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