Digital currency is gaining more popularity all over the world, and Venezuela is one of the most recent countries where Bitcoin adoption is starting to gain traction. Although the local government is not too keen on Bitcoin in general, consumers and businesses are flocking to digital currency because it operates outside of the control of central banks. Economic experts and various media outlets have jumped on the Bitcoin bandwagon as well in recent times, creating an attractive ecosystem for digital currency going forward.
Also read: What Makes The UberPay Wallet Solution So Popular? Why Bitcoin Can Work In Venezuela
For all of the negative connotations surrounding the Bitcoin ecosystem, there are twice as many positive sides to this digital currency. Even in Venezuela, there have been various allegations regarding the involvement of Bitcoin in illegal trades on the Deep Web , and terrorist activities. However, none of this can be blamed on the digital currency itself, and the terrorism relationship has never been proven.
It does not come at a surprise to see one of the major media outlets in Venezuela post a critical piece on Bitcoin, as this has been the approach by governments and banks since day one. First, they will try to discredit Bitcoin, then they will want to learn about it, and eventually, copy it. But neither of these efforts will slow down the growth of digital currency in Venezuela by the look of things.
But at the same time, more and more people are starting to realize Bitcoin is not anonymous by any means, even though the protocol can protect user privacy up to a certain extent. This type of currency is not ideal to be used for illegal activity on the Internet or in real life, and its legitimate use cases for the […]
