Venezuela needs to make Digibyte the national backed currency and get rid of your fiat. Venezuela should also allow POS products to be used in every business in the nation. Pass a law for this to occur. Then buy a ton of Crypo Currency ATM's so people can access crypto nationwide with ease. Thirdly, allow bitcoin exchanges and mining to occur in the country. Every mining rig produces liquid assets than could be used for purchasing goods and services throughout Venezuela. Your country should be an economic powerhouse based on oil alone. The government has no food to give out to the poor and destitute. The middle class has also been wiped out.
A black market currency exchange and underground crypto mining and trading has popped up all over the country to counter the high inflation rates. This is the trending action many other countries throughout Africa, Asia, and the Middle East have taken. Every day we hear news of crackdowns on "illegal" mining operations and crypto companies being shut down so that people will believe in the national fiat currency. Humans are not dumb though, especially when they are hungry. It is clear that we must come up with innovative solutions to solve these issues. I think options like Digibyte, Pundi X, Crypto Currency ATM's, and Bitcoin provide some real ways to save the country.
So, like I said before, make Digibyte the national backed currency and get rid of your fiat. It can have old backing as well. Venezuela should allow POS products to be used in every business in the nation. Pass a law for this to occur. Then buy a ton of Crypo Currency ATM's so people can access crypto nationwide. Thirdly, allow bitcoin exchanges and mining to occur in the country. Every mining rig produces liquid assets than could be used for purchasing goods and services throughout Venezuela. Your country should be an economic powerhouse based on oil alone.
Until the government realizes that Crypto Currencies are the only escape route, they will never fix the issue. They are sitting on trillion in oil, but they need a liquid digital currency asset to make that money flow internationally. This is a no brainer and hopefully they figure this out soon so people can go back to eating and providing for their families.