I just read a post by @juanmolina which unfortunately is 24 days old, but the impact of the events it describes have not yet been felt, so the post, although 24 days old, is still future oriented.
In this post he describes a situation unfolding in South America.
The Venezuelan government is currently surrounded by a series of systematic economic sanctions applied by the US government that prevents it from carrying out financial and commercial transactions with many companies and companies around the world, isolating it from the global financial system. These measures directly affect the Venezuelan state oil company PDVSA, which has been unable to make payments to suppliers and also charge for the distribution of oil to its buying partners.
In this post @juanmolina restates this historical quote:
”The situations of stress and despair often tests the creativity of the human being."
Then this fascinating bit of additional news coming from Venezuela:
The Central Bank of Venezuela (BCV) is conducting internal tests to determine if it can keep cryptocurrencies in its coffers, according to four people with direct knowledge of the matter consulted by Bloomberg. The efforts come at the request of Petroleos de Venezuela (PDVSA) that seeks to send Bitcoin and Ethereum to the BCV, and that the monetary authority pays the suppliers of the oil company with the tokens, ** according to Bloomberg sources **.
I feel this post was very insightful and I agree with his main theme that sometimes when people are under great stress, they have their most creative moments, and then even their mistakes can become monumental firsts.
To me, this is an amazing, historic development.
If this decision by the Venezuelan Government Administration to utilize cryptocurrencies in its international financial transactions, is a historic event and if other countries under economic sanctions or others not under economic sanctions adopt this, it represents an amazing big step toward mass adoption.
We are seeing something unfold here where the desperation of a single government working in concert with other desperate governments may create something larger then the individual players, a link between Iranian and Venezuelan oil, the worlds most important commodity and cryptocurrency like Bitcoin or Ethereum utilized in government level transactions in government sized transactions would be a massive new mass adoption landmark.
These efforts to avoid economic sanctions from the worlds preeminent economic power, if successful will mark the start of a global economic revolution and potentially disruption of the current world order giving Iran weapons other then military and other countries options, which will turn the world upside down.
I think it’s an amazing time to be alive and there is a tremendous amount of activity in this space.
✍🏼 By Shortsegments
Reference @juanmolina’s post