Can Bitcoin and Blockchain Help Financialy Blocked Economies?
In these times of great convulsions; Political, economic, social, technological, among others, it is striking that some countries receive more media attention from the media, among the information that is propagated is that some of these countries receive economic blockades, these are born from the womb of the so-called developed countries, therefore, questions arise, one of them may be, if there is a technology like blockchain-bitcoin, which every day has applications, to be discovered. So, can Blockchain and bitcoin help financially locked economies?
Now, if reviewed, the economic blockades applied to Cuba, Iran and North Korea, Russia, Syria, Venezuela, among others, are known by much of the Venezuelan population. For about 4 years inflation and now hyperinflation has hit record never seen, for example is mentioned by parts of some international news agencies, that inflation touches up to 8%, minimum wages and salaries adjust them to the new reality Economic up to 4 times in the year. This is a very worrying situation and must be taken into account by the government on duty.
Making a little flashback, it is said that economic blockades necessarily have a political foundation that seeks to impose on “regimes” considered arbitrary, dictatorial, or in general violators of human rights. In reviewing the performance of the Venezuelan government, 21 elections have been made and these are carried out with the highest technology available, there is a system that can be audited, at one time the Carter Center, said that it is one of the most reliable in the world.
It is clear that, within the so-called globalization, countries with great development and economic influence agree to apply measures of seizing or financial paralysis as punishment or pressure on certain countries in order to influence their domestic policy. That is to say, if what is previously true, what can be the objective, in changing a government. Let us take the example of Venezuela and review its possibilities in natural wealth, that is to say that has produced nature.
We will compare Venezuela with other oil producing countries, Venezuela 298.350 million barrels, Saudi Arabia 267.501 million barrels, Canada 178.1 billion barrels, Iraq 177.5 billion barrels, as the countries with the largest reserves, it is mentioned that Venezuela has oil for the next 200 years.
Other strategic minerals such as gold, Venezuela is the second country with the largest reserves of this mineral, with an approximate 7,000 tons, Minister of Petroleum and Mining, Eulogio Del Pino, said that Venezuela ranks sixth largest reserves of Diamond and the second in gold reserves.
Eulogio Del Pino, president of PDVSA, said Venezuela is a development power in the mining areas, ranking sixth in countries with higher diamond reserves, with an approximate 11,800,000,000 carats.
On the other hand, these natural riches are so great that they were offered agreements for the extraction of gold, copper, diamond, coltan, iron, bauxite and other minerals of high industrial value, which account the Mining Arc in its 114,000 square kilometers.
On the other hand the mineral Coltan, of the Venezuelan reserves the only thing that is known is that studies made by the Ministry for Basic Industries and Mining established in 2010 that the riches of “blue gold, coltan” would be in the order of 100 thousand millions of dollars.
All of the above mentioned, represents a wealth that looks incalculable, a strategic order that the great and old powers would like to continue to exercise the hegemony, financial, technological and social, among others, of this society, therefore, Blockchain- Bitcoin, could be one of the most powerful tools for Venezuela to exercise an audit for every gram or drop of oil extracted from its subsoil and that can be placed at the service of Venezuelan society.
In summary, the Venezuelan government has the floor if it wants to continue with the true development of the people, the leverage offered by natural resources is the key, to obtain financial resources, for harmonious and sustained development and to overcome the financial siege imposed by The so-called developed countries. New announcements are expected.
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