Venezuela, a South American country, is currently facing a serious humanitarian crisis. People are starving, but the authorities have been reluctant to allow direct foreign aid into the country. The recent success of a food distribution initiative funded through Bitcoin donations proves that cryptocurrencies are indeed borderless.
Crypto To Solve Cash Issue
One good fact about cryptocurrencies is that they can be transferred anonymously with maximum privacy protection. Since the Venezuelan government blocked entry of food convoys through its borders, good people outside the country decided to pool resources to send money across the border so that food can be bought and distributed locally without delving into border and foreign aid issues.
For this to happen, the best way was to use cryptocurrencies because it would be difficult to send the local currency from outside the country without being traced. They decided to use Bitcoin.
Two Huge Trucks Of Food Bought With Bitcoin
A humanitarian aid project called Bitcoin Interest (BCI) was birthed and planned with the goal of gathering donations in cryptocurrencies. Once that happened, the funds were transferred to a contact within Venezuela. The contact bought food and used trucks and a few volunteers to distribute the aid in affected neighborhoods.
In fact, according to the contact, the Bitcoin funds contributed were enough to buy 2 huge trucks of food enough to serve a whole neighborhood. Local store owners who heard of the initiative were eager to offer discounts on the items bought. Families had chicken and other important foodstuff in their households. By the end of the exercise, a town of 5,000 people was feed, with around 14 tons of food distributed. That’s crypto saving lives.
Bitcoin As A Life Savior
This event hits a nerve in everyone who has come across it, and it begs the question of what could have happened to those starving innocent people were it not for the ease of use of Bitcoin across borders. Indeed, Bitcoin in this case is a life savior.