Venezuela mission and fiat problems
If you live in stable country things like going to grocery shop picking daily supplies or buying daily items you don’t find very challenging. You just find them time consuming. Having electricity in your home 100% of time is totally normal and you don’t even think about not having it. Those things we take for granted. What about finance ? We don’t even need to go to Bank anymore or even use cash. Just swipe your credit or debit card and that’s it. Sending money to your friends and family ? No big deal. PayPal,Western Union, Skrill, Stripe, …. You have variety of payment processors you can choose from. And what about fees ? For having bank account you need to pay monthly maintenance and for every transaction you need to pay fees in certain percentage (0.2% to 0.5% for credit cards) + fixed fees for each transaction (all depending on card providers). To make you easy they create hundreds of payment models you can choose from . So if you transfer larger amounts of money you pay more. There are so many middleman in the fiat game. Each one lives out of the fees you need to pay for. Try sending your money to another country or even to another continent! First you will pay enormous fees and second that transfer will last for days.
Now imagine you live in a country like Brasil, Venezuela, Yemen, Uganda, Mexico or any other poor country. How those people even survive there and how rest of world can help them? Blockchain, crypto and modern technology offers great solution for those people especially because now many of them have mobile phones and internet access. By having this they all have possibility to become their own bank. According to a recent report from the World Bank, “The poorest households are more likely to have access to mobile phones than to toilets or clean water,” underscoring the fact that rapid technological development around the world hasn’t necessarily translated to higher living standards for most people.” I found excellent post on Reddit which i would like to share with you
“So, here is a true story… just got to experience it today. May 31, 2019.
I was at Walmart at the customer service checkout register, and the person next to me at the adjacent register was trying to send money to Mexico.
Ironically, just before that I was checking out Coinbase at the $XRP price and then suddenly my attention shifted towards the conversation happening at the ‘money transfer’ register.
This poor guy, removed a hundred dollar bill and wanted to send it to family (I assume) in Mexico. The Walmart clerk took the bill from him and then said.. “Sir, its $108… and it will take 4-7 days to transfer”… This guy was startled. Maybe it was his first time sending money across the US-Mexico border.. $8… that was almost 8% of the total transaction fee.. I could see the sadness in his eyes, where he had no option but to cough up another $10 bill to pay the transaction fee.. I was just thinking at the same time – what if ? I could send the transfer for him ? Seeing his state, it looked like the $8 could have made a lot of difference for him…
Long story short – I just handed him a $10 note and walked out. Wish I could have handed him $XRP instead. Imagine his delight if he would have known that this transaction could have saved him $8 ?? (The fee was almost negligible) and his transfer would have reached the recipients in less than 4 secs instead of 4 days!.. just Imagine that folks!
This my friends, is the true disruption that is about to happen. People still dont get it.. The same folks that laughed about Netflix/Blockbuster, Airbnb/Hotels, Uber/Taxis…. Imagine this digital transformation happening in a Trillion Dollar Industry.. possibly Quadrillion $.. Just imagine the potential!! “
Author sunil9, taken from Reddit post
Our mission here at crypto-insiders.net will be to try to help some of those people by spreading word about Crypto and blockchain technology. Educating and helping via donations and charity starting with Venezuela. Together with our friend Ken Smith from Maracay we will try to bring you information from the field and how crypto is changing lives in that country. Ken’s experience in surviving on crypto in day-to-day scenarios will be spread via crypto insiders Venezuela to Spanish speakers. On honest and transparent way we will show you pictures and videos Ken took on the field.
Few days ago when i chat with Ken via Telegram he told me “Tompa, lights are off”. In that moment i thought his light bulb stop working but later i found his apartment block was left out of electricity power. I didn’t even think about that because for me having power is something normal and ordinary.
This is just a small part of life in there . You can also help by any crypto donations you can afford. Even 1$ can make a difference because it’s 1/30 of average monthly paycheck. Because of crypto currency nature and blockchain technology those donations will come in few minutes and can help those people there. We will try involve as many people as we can by going into community. Wallet addresses for donations can be found on Insiders home page or you can contact us via emails or Telegram at @tompaCro or @Vemith.