Project Hope: An Example of Why the World Needs Crypto
Monitoring the Situation in Venezuela
I was doing a bit of research over the India-China border conflict. After getting a better grasp over the strategic implications of the military buildup, as well as global alliances, I happened across a GDP chart from FocusEconomics.
Now, I doubt more than a few people outside of Project Hope wonder where Venezuela ranks. Google’s thumbnail didn’t list it in the top five.
figure adapted from FocusEconomics
Confirming the Need for Change at the Nation's Core
Intrigued and concerned, I visited the site and found Venezuela listed at number 33 of 126 countries. This is not at all a good ranking but I needed more. There just has to be
a statistic that's more telling of what is going on in the nation where buying a loaf of bread requires a larger stacked volume of paper money.
An Economic Collapse that's Off the Charts
What better statistic to illustrate the immediacy of a nation in crisis than
no statistic at all. Because this is what I found. Venezuela was the only nation on the list that did not have an (actual) value for BOTH 2017 and a (projected) value for 2023.
Finding a Place to Start
Rankings do not always tell the whole story. Neither does a single statistic. Only three other nations had empty slots on this GDP per capita list. They were Yemen at #5, Ethiopia (#7) and India (#19) Both Yemen and Ethiopia did not have an actual value for 2017. The projection data for 2023 was missing from India.
We need data that is:
- relevant
- timely
- and accurate
Wouldn't you know it, blockchain technology has proven itself capable at all of these things.
Empowerment: How Crypto Can Help
Crypto has already permeated the Venezuelan economy. In relative terms, it would not take much for independent citizens to contribute to a global blockchain that reports at least somewhat accurate economic data. More than this, any honest crypto venture will likely provide relevant data. This could be life altering if it is in anyway
connected to individual lives.
Live in harmony with one another. Do not be haughty, but associate with the lowly. Never be wise in your own sight.
- Romans 12:16 ESV from OpenBible.com via 'solidarity'
#ProjectHOPE
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I read your article and am not sure I understand what the chart is explaining. I do understand your reference though about the stack of bills needed to pay for bread being larger than the bread.
I remember Mexico in 1993 when 3000 pesos was worth 1USD. They then created the Nuevo Peso (New Peso) which basically took 3 zeroes off their currency.
The Mexican peso was then 3 to one, and moved almost immediately to 6 to 1. Now it is 22 to 1, the decline has been gradual and steady.
I disagree that only those on the steem blockchain watch the Venezuelan economy closely. My parents for example, who grew up in Mexico, live in the United States, are less than 15 miles from the city they grew up in and are far away from crypto, watch the Venezuelan news daily. I get more Venezuela information from them than I do from steem.
Thank you for sharing. I hope crypto offers solutions worldwide, it is a time for abundance and crypto is more abundant than fiat as there are no banks and governments sucking up its value.
Oh, I believe that everyone in Venezuela is watching their economy. I was referring to the few American's really.
As far as the what the GDP chart and the forecast of production...
The lack of a reported statistic means that governments, business and many other types of organizations, like research institutions, do not have a basis from which to plan.
Questions like...
How much bread can we expect see throughout the country in 2023 have no reference point. Now, while bread has a quick turnover rate, the trucks that supply them do not. Same would go with steel and other infrastructure materials.
GDP is probably the most basic business common ground, and hence asset, for communication in large scale development. It will almost certainly also impact local communities that are not entirely self dependent.
Sorry if I went on too long. Took many a business class- mostly from the perspective of aviation and finance.
I did not really follow what happened in Mexico, but every time I hear a story, it's sad.
Nice knowing you have strong Mexican ties. Cuban and Puerto Rico myself.
Mexican, Cuban, Puerto Rican, those are all labels the colonizers gave us to help us forget that we are Natives to the "Americas" as far as I am concerned, we are all (distant) cousins.
Don't apologize for the long answer, I learned something from it, and that is very valuable to me, thank you for taking the time.
:)
Hello @metzli, I think the pandemic has greatly diminished the news from Venezuela in the world.
I tell you, I am Venezuelan, living for almost three years in Colombia. Until before the start of the pandemic, the topic here and in many places was Venezuela. However, that has diminished.
To know Venezuela, more than numbers or sensational news that sometimes arise, could be through the newspapers, the daily dynamic that has created @steemitblog, more than half of the participants are Venezuelan, they relate their daily lives. It is through the people that the country is really known. In my opinion.
Many things today of Colombia before I left, and when I did, I had some expectations, even some fears, however, I am here and few of the news I came to see, are true. It's interesting to know other realities, I'm sure that's what you should know about having Mexican parents.
Take away zeros from coins, that has been done 4 times in the last 11 years in Venezuela. What used to be worth 1 Bolivar (Venezuelan currency), is now worth 1,000,000,000,000 Bolivars.
Crazy, literal.
That is crazy, four times in 11 years. It costs so much to reprint money, I wonder who lines their bags with that. I do read a lot about Venezuela here on the blockchain which always surprises my parents, they, like many people see me as American and therefore self centered.
Yes @metzli, behind that there are some new millionaires, who get stronger with every devaluation of money.
They're not interested in anything else. But, you have to see where it all ends. What is certain is that the Venezuelan currency is no longer worth anything
@machnbirdsparo first of very nice article , as I said before also crypto is the future of financial revolution the sooner we understand the sooner will get advancement.
yes ASAP!
Hello friend, this is very interesting, and I also believe that for this and more, cryptography is necessary in the world. This example you bring is a very pertinent one.
Knowing what really happens in Venezuela from data that is all with a little truth, what the state wants to show, is far from reliable.
I also think it is difficult to know what is happening there. I'm Venezuelan but I've been lame for more than two years outside my country, and the truth now is not the same as the truth I left behind. They tell me many things that didn't happen when I was there. And it's terrible. Without a doubt this aspect, a public blockchain in which from anywhere I could provide data and be verifiable, would leave many things uncovered, not only in my country but in all. I think this is what the politicians are afraid of.
I liked your approach @machnbirdsparo thanks for sharing.
Thanks for confirming the situation. Hope to stay in touch.
the solution you are proposing for insurance is one of the smart solutions for Venezuela, especially due to transparency the speed of transactions The country is going through the biggest crisis in its history, we all hope that with ideas like the one you propose, things will soon straighten up
Hello friend, for me it is very difficult to put the situation in Venezuela in numbers, when you use statistics and you realize the magnitude of the Hyper inflation, the numbers seem to be taken from a fictional movie.
For example, the numbers provided by @josevas217 although it seems an exorbitant amount are real, many people around the world find it hard to believe that the salary of most in the country does not exceed 4 $ a month, a sad reality but very difficult to explain.
In my particular case, cryptography and particularly Steem and Project HOPE are my personal lifesavers.
Yes, so mind-boggling. I heard someone who lives there speak about the salary. People were like, per day, and he was like no, per month.
There's actually no doubt that cryptocurrency and blockchain technology can actually solve some part of the problems we may be facing in the world today. I just hope the government will look more into this aspect and make the necessary move to adopt cryptos and blockchain technology.
Thanks for sharing this great post with love from @hardaeborlaand and I hope you have a great day ahead
💕❤️💕💖❤️💕❤️💖❤️💕❤️💕💖❤️💖
yep
keeping an eye on crypto friendly politicians