{"id":13324,"date":"2019-11-28T08:00:47","date_gmt":"2019-11-28T02:30:47","guid":{"rendered":"https:\/\/www.the-next-tech.com\/?p=13324"},"modified":"2024-03-20T17:46:34","modified_gmt":"2024-03-20T12:16:34","slug":"venezuela-inflation-drags-on-and-can-blockchain-be-a-solution","status":"publish","type":"post","link":"https:\/\/www.the-next-tech.com\/security\/venezuela-inflation-drags-on-and-can-blockchain-be-a-solution\/","title":{"rendered":"Venezuela Inflation Drags on and Can Blockchain be A Solution?"},"content":{"rendered":"

<span style=”display: inline;border-radius: 4px; padding: 4px 10px 4px 0px;background-color: #d5e9ff;”>Every day, countless stories are released on the global financial crisis, including stories on the instabilities of emerging market currencies, laying out a myriad of problems, but with few viable solutions.<\/span> Recently, a<\/span> Forbes article on Venezuela\u2019s ongoing hyperinflation<\/span><\/a> crisis made the rounds, discussing the laughability of inflation forecasts neighboring 10,000,000%, although the current reality is not all-too-better at over 10,000%.<\/span><\/p>\n

By any definition, it is a crisis: It is certainly one for those who can barely afford basic necessities, and it is a crisis for these emerging markets that are tasked with solving a seemingly insurmountable problem. Further, this crisis is far from over, as emerging markets face issues beyond inflation, from government seizure to local catastrophe, encompassing everything from downright robbery to the\u00a0plague of corruption<\/a>.<\/p>\n

The \u201cgood\u201d news, if there is any, is that we can hypothetically understand the causes of these problems, which are rooted in financial exclusion. If we were able to build and deploy systems for financial inclusion, we could attack these issues at their core\u200a\u2014\u200asomething governments have failed to do time and time again.
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