Episode 56
Alejandro Machado (Open Money Initiative) – Contemporary Dollarization in Venezuela (EP.56)
On The Brink with Castle Island · Castle Island Ventures
March 23, 20201h 25m
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Show Notes
Open Money Initiative founder Alejandro Machado joins the show to explain how Bitcoin is actually used in Venezuela, and how the country is dollarizing in real time.
In this episode:
- How a power cut has been linked to a recent dollarization movement in Venezuela, and how dollar usage became decriminalized
- Whether dollarization has improved the prospects of everyday Venezuelans
- Why Maduro is actually in favor of partial dollarization
- How bitcoin allows you to import a system of credible property rights
- Why bitcoin still has a relatively low level of penetration in Venezuela
- Why stablecoins have not made a dent in Venezuela so far