RE: A Modest Proposal to help the people in Crisis
Hello @shortsegments, I am pleased to know that you have investigated a little about my country and the issue of the socioeconomic crisis that we have been experiencing for a long time.
I really like this initiative that you illustrate, certainly the great advantage is that you do not need the internet to make a transaction by SMS, and with basic cell phones anyone could mobilize cryptocurrencies.
I can tell you that in Venezuela for some years, banking transactions have been made by SMS (among other modalities), such as transfers between bank accounts and payments to businesses affiliated with this modality, there is even a system called "biopayment" where only the fingerprint of the user to validate a payment (but this one if you need internet). It would be great if local financial institutions adopted the use of cryptocurrency electronic wallets to facilitate transactions in the local economy but in an inclusive way with a wide variety of tokens.
We also have a great variety of apps from different local banks, and these arose in the middle of a crisis that we lived through some time ago where "we did not have notes or coins" to make payments, we only had money in bank accounts that we could not withdraw, Can you believe it?
I would like to see your project consolidated not only in South America, it would be great if it worked worldwide.
Thank you for dedicating this post as a valuable contribution to publicize the situation in my country.
Hi @tocho2
Your story about not having coins or notes, and only moving money via the bank electronically is amazing! I an sure it was a inconvenient and shocking situation at the time, but strangely a foreshadowing of the digital future.
I am glad you feel this proposal may help in your country and South America.
Hello @shortsegments, the difference on that date with respect to the current one is not very different, we still don't have coins or bills (Bolívares), now there are only US Dollars in circulation, so we continue to depend on electronic transactions. In our case it is nothing positive at all, but it is certainly a rehearsal for the near future.
Thanks for comment