How cryptocurrency brings oppression and hope to Venezuela

Daily life in Venezuela begins and ends with one question: What is my money worth today?

Venezuela has the world’s worst inflation rate at more than 40,000 percent annually and rising, according to John’s Hopkins University. The country’s almost worthless bolivar currency is breaking deli scales and credit card readers as the more than 30 million people of Venezuela struggle to buy basic necessities in a starving economy. Citizens are trapped in an ever-worsening cycle of stagnant income and empty store shelves, their money worth less each day. All the while, the authoritarian government of President Nicolás Maduro maintains a tight grip on power through propaganda, strongman tactics, and increasingly desperate economic ploys. Read more…

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Source: Mashable | How cryptocurrency brings oppression and hope to Venezuela