Cryptocurrencie – The situation in Venezueal (Part 1)

I Venezuela har ett ekonomiskt kaos resulterat i att kryptovalutor blivit en del av vardagen. För José Lanz är microinkomster via kryptovalutor ett sätt att livnära sin familj. Vissa månader har inkomsten via krypto till och med varit större än hans 10USD/månadslön som lärare.

Detta är del 1 i intervjun med honom kring situationen i Venezuela – Del 2 kan läsas här.

Whats your name and where do you live?

José Lanz, (@lanzjoseg in all my networks) I am a professor at the Universidad de Oriente “UDO” and head of the Payroll Department of the same, happily married my wife is also a teacher, we have two beautiful daughters, I currently live in Venezuela a beautiful country with great natural and human resources but economic catastrophy.

How is the situation in your Country?

The situation in my country is terrible. The population lost their purchasing power, their purchasing capacity decreased considerably, directly affecting their health, food, housing, clothing and education due to a very serious hyperinflation that every hour is worse given that our official currency “El Bolivar”.

Although the government blocks all dollars, taking full control of them, here the black market prevails in a public and shameless manner where the washing of dollars is revealed through dirty businesses (stews).

Because with such low wages, the economy is declining every day, people are in a constant race to survive and try to work miracles with what they earn. The money we can earn is not enough to buy more than two basic food products.

Have the value of your currencie been more sustainable for the past?

No, the fluctuation of the dollar is unsustainable, one day one price, then in the morning one and in the other afternoon.

For example:

The dollar three days ago was at 19 thousand bolivars per dollar. Yesterday I was at 20 thousand bolivars per dollar. Today it is at 22 thousand bolivars per dollar that is the price of the black market.

Although the government also has its own rates dictated by the Central Bank of Venezuela that in some cases is well below the price of the black market and sometimes above.

How much do you earn?

A university professor earns by the order of 9 to 10 dollars monthly as salary that could vary according to the rate on the day you have to receive the salary. But I must clarify that nobody in the country is paid in dollars at least in the public sector, our entire economy is managed in the official currency (El Bolívar) although it is also measured in dollars and can be traded in dollars.

This is the situation for people in Venezuela. A economic situation that many of us in Sweden not can imagine. Can crypo be a part of the solution….Also read part 2 “Cryptocurence help him getting food for the day

Läs mer:

How Venezuela Came to be one of the biggest market for Crypto in the world /