259: What Bitcoin means for Colombia and Venezuela

The potential for cryptocurrencies like Bitcoin in Latin America is huge according to Ep259's guest, Matt Aaron. I for one am a complete newbie to this new form of finance and so, we go through the basics with Aaron and talk about the challenges facing Bitcoin and other coins in South America, but also their very real benefits. 

Additional to the upsides of working with cryptocurrencies in Colombia - providing users with, "censorship resistant money," (more about this term on the podcast), there is an added opportunity for people in Venezuela where the traditional economy has completely collapsed under President Nicolas Maduro to use a currency which will remain practically unaffected by their government's interference. 

Did you know that there will be a cryptocurrency “airdrop” fundraiser to help Venezuelans dropping on May 27 2019? People have been donating funds via a number of different coins to the citizens of the crisis-stricken South American nation — many of whom are refugees. Our advice though, is to not invest all your money in Venezuela's cryptocurrency, the Petro, just yet!

So tune in to find out more on this profoundly interesting episode about the aim to change the market economy as we know it, to something more social and less restrictive. For more information, check out www.bitcoin.com