[Analysis] Cryptocurrency in Venezuela: a review of the current state of the ecosystem - Javier Bastardo

Venezuela is not a "crypto nation," but interest in digital assets like Bitcoin is still great, according to Cripto Noticias contributor Javier Bastardo. Bitcoin exists in the collective imagination of Venezuelans, Bastardo explains, but it is not a dominant medium of exchange or store of value. Importantly, understanding with detail the full extent of Bitcoin use and adoption is not possible. Collecting accurate data on peer-to-peer transactions and use, moreover, would compromise user privacy, which is important under the current regime. Cash is still king in Venezuela, Bastardo concludes, but cryptocurrencies are nonetheless a valuable tool for the country.

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