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What Bitcoin Did #108 A Bitcoin Reality Check in Venezuela with Jill Carlson, Alejandro Machado & Jamaal Montasser

Published on May 21st, 2019 by DSholla

Click to download audio version

Interview location: New York

Interview date: Monday 13th May, 2019

Company: Open Money Initiation

Role: Co-Founders - Jill Carlson, Alejandro Machado & Jamaal Montasser

Venezuela is often promoted as an ideal use case for Bitcoin, a deflationary currency in a country suffering hyperinflation. Despite the examples of people mining Bitcoin or using Bitcoin to hold value, real adoption is complicated.

In Venezuela, people are using a range of currencies including the Dollar, the Peso and Bitcoin, but there are times when the Bolivar must be used, even though getting hold of the currency can be difficult.

The Open Money Initiative is a non-profit organisation whose motivation is believing that access to a free and open financial system is a human right. Their design-led approach is to understand the human experiences of survival in Venezuela and to support and inspire their partners to develop products and services that help people.

In this interview, I talk with the team from OMI about their work, their design-led approach to research, the reality of money within Venezuela, and how Bitcoin can help.

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