Cryptocurrency helps the hungry in Venezuela
Venezuela's alternative currency, the Petro, isn't the only cryptocurrency serving the needs of the country's population.
A Venezuelan Reddit user who uses the screenname “Windows7733” claims to have purchased over 400 kg of food for his family and community using cryptocurrency he raised on a Reddit thread advocating for donations.
Windows7733 posted after his first donation of of 0.5 NANO, claiming that the amount was worth an entire month’s salary for him. At the time of press, one NANO is worth $2.60 USD. In an updated thread he linked to his NANO wallet for more to contribute and to provide evidence of the cash flow. In addition to the ledger, he linked an image showing proof of the food bought with the donations. He launched a movement called “Adopt a Family” in which NANO users are donating as well as advocating for adoption in the country.
The government, meanwhile, is focused on its oil-backed cryptocurrency, Petro, which launched to a rocky start. The website for pre-purchasing Petro ahead of its February launch accepted only U.S. dollars, euros, bitcoin and ether — but not the Venezuelan bolivar. The issue stemmed from a prohibition of against citizens buying foreign currency.