Thousands Of Lives Being Saved In Venezuela Thanks To Bitcoin Donations

The South American nation of Venezuela is currently going through a serious humanitarian crisis. Many citizens are starving but local authorities are refusing direct foreign aid to the country. However, the recent success found within a food distribution initiative which has been funded through Bitcoin donations has proved that cryptocurrencies are truly borderless in nature.

Could Cryptocurrencies Solve Venezuela’s Cash Problems?

One of the greatest aspects of cryptocurrencies is that they have the power to be transferred anonymously with the maximum amount of privacy protection. Due to the Venezuelan government barring entry of food convoys through its borders, many people outside the country have decided to merge resources in order to send funds over the border so that food can be bought and distributed locally without entering the country and causing foreign tension.

For this to take place, the best way to do this was by cryptocurrencies as it would prove near impossible to send the local currency from outside the nation’s borders without it being traced by local authorities. These good people decided that Bitcoin was the best option to provide aid.

Bitcoin Helped Purchase Truckloads Of Food:

Bitcoin Interest (BCI) is a humanitarian aid project which was created with the sole purposed of gathering donations in crypto. Once the donations were acquired, the crypto funds were transferred to a contact within the Venezuelan borders. The contact used the funds to purchase food, making use of trucks and some good-natured volunteers to distribute the aid in the affected districts.

According to the contact within the nation, the funds received in Bitcoin were ample enough to purchase two massive trucks of food, enough to serve entire neighbourhoods. Furthermore, local store owners who got wind of the project offered up discounts on the food purchased.

Many families were aided with chicken as well as other important and necessary foodstuffs for their homes. By the end of the project, a town of around 5,000 starving souls was fed with as much as 14 tons of food being distributed.

These events in the South American nation has struck a nerve with everyone who has had knowledge of it and it brings up the serious question: “What would have happened to these starving people had it not been for the ease of use found with a cryptocurrency such as bitcoin?”