We recently reported on the efforts of Mexican financial services company AirTM to help raise funds for refugees attempting to escape the ongoing economic crisis in Venezuela. Over the past year, a combination of factors including corruption and sanctions have caused hyperinflation in the country and seen local currency the Venezuelan bolivar become almost worthless.
As the situation continues to unravel, several retailers across the country have begun adopting cryptocurrency as a means of payment. DASH has been at the forefront of the drive to help grow cryptocurrency adoption in the country, instigating a program to help retailers accept digital assets as payment. Through its Dash Merchant Organization, it has assisted over 2,400 shop owners deal in DASH transactions.
Solving the Issue of Adoption
However, the biggest issue that continues to hinder adoption is the ability of everyday citizens to gain access to cryptocurrencies. In an attempt to solve this issue, Horizen (formally ZenCash) has partnered with Latin American non-profit startup Cripto Conserje, a blockchain company that builds crypto-enabled Point-of-Sale (POS) devices similar to PundiX.
Together the companies will provide Venezuelan refugees with digital wallets and work towards educating them in how to use he Horizen (ZEN) cryptocurrency. An official announcement of the collaboration stated: “Together we are providing ZEN paper wallets and education to those in need, ensuring they have secure ways to access and control their money.”
Initially, the project will be aimed at the millions of refugees that have settled in the Colombian border town of Cucuta but hopes to expand its reach if successful. In line with its existing adoption scheme entitled Alpha Project, Cripto Conserje will work with Horizen to rollout ZEN-enabled POS machines to over 100 local merchants in the area.