The US exchange COINBASE and its subsidiary Airtm have partnered with the US government to distribute $ 18 million. The amount was allegedly confiscated by the Maduro government from 62,000 Venezuelan health workers.
Yes you read correctly, the US government used cryptocurrencies (stable coinst pegged with USD) for the first time ever officially.. The money, in order to reach the workers, the traditional banking system was not used (obviously because the Venezuelan GOV could block it easy). They were sent in stablecoins, cryptocurrencies that have a locked exchange rate with the US dollar. But the difference with "normal" dollars is that their circulation can not be hindered (Blockchain baby). The workers will reportedly receive $ 300 each for three months in equal installments.
Obviously there are political expediencies behind this action (putting pressure on Maduro government), but that isn't a point that we will discuss here.
What's more important here is that is now confirmed with the most deafening (USA is not a random small country) way that cryptocurrncies are not a bubble ready to explode, can be used to avoid 3rd parties (banks) and Gov's can't do anything about it. Taking into account the rumors that want the US Gov considering the use of Blockchain technology for the upcoming Presidential elections, we can understand that we are closer than we thought in the new Blockchain era.
My source is Euro2day
Posted Using LeoFinance
