Two cryptocurrency and blockchain firms have now partnered in order to help Latin American refugees and other communities. The Latin-American based non-profit blockchain firm Cripto Conserje and Horizen, a Delaware-headquartered company will be working in order to improve the refugee situation in the continent. Horizen is formerly known as ZenCash.
These companies will start to work together and educate people about virtual currencies. Furthermore, they will be introducing the ZEN token to them. In a recent tweet, Cripto Conserje wrote that refugees were receiving basic knowledge about virtual currencies and how to work with them.
Refugiados recibiendo enseñanza básica en #criptomonedas, autoevaluación y comercializando con ellas. Gracias @horizen_spa gracias @Levis_Caycedo #crypto4good #criptoXayudahttps://t.co/gnQgjlKVBu pic.twitter.com/GMDTDuLttS
— Cripto Conserje (@CriptoConserje) November 23, 2018
The project they are now leading will be focused on Venezuelan refugees that are moving to other countries in the region. During the first phase of the project, the firms will be targeting communities that have been severely affected in Venezuela.
The country is experiencing a very hard economic crisis. The country registered the highest inflation rate in the world and it has also been the country with the largest drop in GDP during the last few years. Indeed, its currency is worth nothing and each day it keeps losing more value.
This crisis is so hard that a wage in the country does not allow individuals to even purchase a day of food in the supermarket. This is why the government gives bags of food every some days to those that are not able to purchase food.
Venezuelan citizens have been flying and leaving the country to search for a better life abroad. Countries such as Colombia, Brazil or Ecuador have received thousands of immigrants from Venezuela.
An official statement related to this project reads as follows:
“Together we are providing ZEN paper wallets and education to those in need, ensuring they have secure ways to access and control their money no matter where they are and what situation they are in. We are also onboarding 100 local merchants to begin accepting ZEN as payments.”
In Venezuela, individuals are using virtual currencies for their daily transactions. The most popular digital asset in the South American country is Dash. Furthermore, they have also been mining Ethereum (ETH) and Bitcoin (BTC) to be able to earn an extra income since energy prices in the country are one of the cheapest in the world.
Cripto Conserje is also working in the Colombian city of Cucuta so as to increase crypto adoption in Colombia, close to the Venezuelan border.