Hector, a pseudonymous Venezuelan, says he has distributed 300 kilos of food to 40 families, bought with just 61 nanos, currently worth $120.
“After asking them questions today I could see people crying like I was some days ago because my own family had nothing for ourselves, then they were just smiling and crying of happiness once they received that bag of food,” he says.
Pictures and pictures of Venezuelans receiving food distributions are shown with the entrepreneurial Venezuelan cryptonian packaging them to feed a family for a week.
“Several people were crying of happiness when they received the bag of food my family and I helped to pack in,” he says.
This apparently started two weeks ago when someone tipped him 0.5 nanos, worth just a dollar. In a country where the monthly wage is $5, that 0.5 was able to feed him and his family, keeping starvation at bay.
After sharing his story, people donated more nanos, allowing him to buy some 100 kilos of food last week, which he says he donated to family, friends, and neighbors.
That all snowballed, with his sharing of pictures earlier today attracting increased trust and thus a donation of 1,000 nanos, among many other donations of 35 nanos, 10, or 5.
“It’s amazing how much good this project does for many familes in here. I wish hundreds of families could benefit from this project,” he says in announcing they are to launch Adopt a Family.
The situation in Venezuela is very dire. People are starving. The government there is apparently not letting aid in, with some suggesting the government is weaponizing food distribution to maintain support in the country, sending packages to areas that support the government and less so in others.
All this now appears to have the potential to allow Venezuela to perhaps become the first country in the world to leapfrog to cryptos.
That’s because the Venezuelan money is currently worthless. Hyperinflation has been on-going there for much of this year with no end in sight.
Cryptos may however provide a solution, either completely or by forcing the government to end the hyperinflation. Hector says:
“I’ve been struggling to get merchants to accept nano as payment method or as part payment because it has not much adoption in here as other cryptocurrencies already have which are being used to hire venezuelans.
Companies abroad are hiring venezuelans and also making contracts with other venezuelan companies where cryptocurrencies are already being used as a method of payment (or part payment).”
Considering global cryptocurrencies are far more stable than the local fiat money, merchants may soon think it is best to simply transact in crypto, rather than converting it into hyperinflated fiat.
The real push would be if say Bitcoin Cash was airdropped through Cointext. Then cryptos might take off overnight in Venezuela, but even as it stands it seems at least some of the Venezuelan economy is now relying on cryptocurrencies.