The digital Bolívar - El Bolívar digital
Fuente
In a previous post I wrote about the "electronic Bolivar" due to the fact that there is no longer enough money circulating in the street and almost all transactions are made through electronic means, while a small part is made in dollars and what is available in bolivars in cash..
On Wednesday, February 24, the President of the Bolivarian Republic of Venezuela, Nicolás Maduro, instead of betting on a traditional formula such as putting more money into circulation, creating bills with higher denominations, informs that the government is working on the creation of a digital bolivar..
He bases his assertion on the fact that, according to government statistics, more than 70% of transactions are being made in digital format and that by 2021 they aspire to reach 100%..
However, there are no explanations anywhere, beyond the President's words, about the strategies to carry out this project, which creates more uncertainty among the population and gives fuel to speculation and even to the non-acceptance of the few bills of the new monetary cone; in fact, the 10,000 bill is already not accepted in the State of Zulia.
In a country where communications are very poor, where there is a group of businessmen and traders who monopolize, together with the government, all services, including food distribution, eliminating cash but opening the door to dollar accounts and accepting dollar currency is an outlandish or illogical decision.
A digital currency could coexist with a physical currency without problems, but eliminating the latter is something I have no idea if there is any similar case in history..
Venezuela will get out of the crisis, according to the group of economic gurus surrounding the government, as wise as King Solomon, with a digital currency and a crypto (The Petro), which has not had any positive impact on the people who among millions of questions have a very simple one: How will they pay for public transportation?
Where will the dollars come from to flood the streets and serve as an exchange currency in the markets if more than 80% of the population has a salary of less than one dollar?
Regarding the last written statement, the government has authorized banks to allow individuals, that 10 or 20% privileged group, to open accounts in dollars, but when it is time to receive the money back, it will do so electronically in bolivars.
Undoubtedly a whole set of ingredients typical of a popular humorous program of the country called "What a madness".
Versión en Español
Fuente
En un post escribí acerca del “Bolivar electrónico” producto del hecho que ya no existe suficiente circulante de dinero en la calle y casi todas las operaciones se hacen a través de los medios electrónicos, mientras una pequeña parte en dólares y lo que alcana en bolívares en efectivo.
El miércoles 24 de febrero el presidente de la República Bolivariana de Venezuela, Nicolás Maduro, en lugar de apostar por una fórmula tradicional como la de poner a circular más dinero, creando billetes con denominaciones más altas, informa que el gobierno está trabajando en la creación de un bolívar digital.
Basa su aseveración en el hecho que según las estadísticas que maneja el gobierno más del 70% de las transacciones se están haciendo en formato digital y que en el 2021 aspiran que llegue al 100%.
Ahora bien, en ningún lado existen explicaciones, más allá de la palabra del mandatario, acerca de las estrategias para llevar a cabo este proyecto, lo que crea más incertidumbre a la población y le da combustible a la especulación e incluso a la no aceptación de los pocos billetes del nuevo cono monetario, de hecho ya en el Estado Zulia no aceptan el billete de 10 mil.
En un país donde las comunicaciones son paupérrimas, donde existe un grupo de empresarios y comerciantes que monopolizan, junto al gobierno, todos los servicios, incluso la distribución de alimentos, eliminar el dinero en efectivo pero abrirle la puerta a cuentas en dólares y aceptar el circulante en dólares es una decisión estrambótica o fuera de lógica.
Podría convivir una moneda digital con otra física sin problemas, pero eliminar la segunda es algo que no tengo noción si existe algún caso similar en la historia.
Venezuela saldrá de la crisis, según el grupo de gurúes económicos que rodean al gobierno, tan sabios como el rey Salomón, con una moneda digital y una cryto (El Petro), que no ha tenido ningún impacto positivo en el pueblo que entre millones de preguntas tiene una muy sencilla. ¿Cómo harán para pagar el transporte público?
¿De dónde saldrán los dólares para inundar las calles y servir de moneda de canje en los mercados si más del 80% de la población tiene un salario de menos de 1 dólar?
Tomando en cuenta en cuanto a lo último escrito que el gobierno ha autorizado a los bancos para que las personas, ese 10 o 20% privilegiado, puedan abrir cuentas en dólares, pero a la hora de recibir el dinero de vuelta lo hará electrónicamente en bolívares.
Sin dudas todo un conjunto de ingredientes propios de un popular programa humorístico del país llamado “Que locura:
Hello @joseph1956, Venezuela is a very serious thing, thinking that what should be synonymous with technological and economic updating and great progress, could suddenly become part of the economic disaster that we are experiencing because our country does not advance in line with the good changes, quite the opposite, Vzla makes a chaos of the "simple flight of a butterfly" and everything is cause for speculation.
Personally, I think that this initiative, well implemented and with the citizens well trained and informed about its correct use and operation, could be a complete success, worse when I remember that we are in Vzla I get a little discouraged.
Thanks for this information
Hello @joseph1956.
Actually an excellent analysis that you share with us in this opportunity, there are many decisions that surprise us of the Venezuelan president as the one you mention in this opportunity, and this is because there are many deficiencies as the one you mention very well in your article.
Thank you for sharing such an interesting article with all of us. Best regards.
Greetings @joseph1956.
This is a brilliant idea, actually. In any other country in the world, this would be welcomed and would surely bring progress and well-being.
But when we talk about Venezuela, the picture immediately turns gray.
This will not prosper.
The actors behind this implementation are more focused on determining how much their income from kickbacks will be, than on fine-tuning the necessary technical details.
The corruption destroys everything in Venezuela, even before the actual implementation of the projects.
Add to that ineptitude and you will understand the reason why we are getting worse and worse. It is as if we were living in a hidden camera comedy show.