Bitcoin To The Rescue in Venezuela, Airdrop Plans For Bolívar Hyperinflation Help
There Is A Plan To Send Millions In Bitcoin To Venezuela
If you read international news, you’ve probably heard about how the situation in Venezuela is bad. The government has been increasingly taking an authoritarian posture, the economy is bad and the country is facing a huge problem of distribution. Jonathan Wheeler, a former bank employee turned developer, wants to help things to change.
Wheeler has created an intricate plan to send airdrops with millions of USD worth in BTC to the Venezuelan population to help them and increase their freedom in spite of the interventionist posture of the government. However, Jonathan Wheeler has a problem: he needs help from other people but he might endanger them by revealing too much.
The Main Problem
The main problem that the developer is facing at the moment is that he definitely needs publicity to attract more investors to the plan and be able to move it forward. On the other hand, if he reveals more information about his plan, the government will also know about it and it can arrest the people who are working with him.
It is widely known that the Venezuelan regime has no problems with imprisoning its detractors, as this happens again and again in the country. The government has already banned technologies like the Tor network and exerts some level of censorship among the citizens of the country.
Also, Venezuela has just launched the Petro, which the government believes can be the key the economic revival of the country, as its economy is shaken by international sanctions and general opposition from the international community.
It is obvious that a single man would not be able to change the country politically, so Wheeler decided to at least help the people who need the most. Wheeler’s way out of this problem was the creation of an app called Azul, led by the Pale Blue Foundation. The app would be used to gather millions in donations that would be used to help the Venezuelans.
Jonathan Wheeler is so focused on his idea that he left his job at Goldman Sachs in February to dedicate his full time to this enterprise. With the help of Morgan Creta, he created a team that has 15 people right now, including several people from Venezuela.
Usability As The Solution
Venezuela is no stranger to cryptos. Not only the government has its own crypto, but Zcash and Dash are very popular in the country. The efforts to help the population, on the other hand, have not yet been completely successful.
The creators of the company argue that the main problem is a lack of usability, as these two tokens are not as successful and powerful as Bitcoin. In fact, with the Lightning Network, Wheeler and Creta are even more certain that their plan will work. The foundation has been talking to the Lightning developers to use this technology on the app.
The idea is to use the technology to create an app that will make it easier for the people to use Bitcoin, as most common people do not have the free time to learn how to use Bitcoin by reading tutorials on the internet. Also, it has to work on unsophisticated devices, as many Venezuelans do not have access to highly advanced technology.
The Plan Set In Motion
Wheeler and Creta are looking for partners with organizations like the Human Rights Foundation and the United Nations. They have been also talking to economists to understand if dropping a lot of Bitcoin in a country could have unintended consequences.
The main problem now is raising the money. Venture capitalists told the duo in February during the BitDev meetup in New York City that they should do an Initial Coin Offering (ICO) but, while Wheeler and Creta believe that they could make a lot of money this way, they do not want investors, but donors, as this is a humanitarian cause.
Will this plan work out? Will it be enough? We all will have to wait for Wheeler to set the plan in motion to find out.