Horizen and Cripto Conserje to Help Refugees Adopt Crypto

Latin American non-profit Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term firm Cripto Conserje has partnered with Delaware-headquartered Horizen (formerly ZenCash) to fight the increasing Latin American refugee crisis and help the affected communities.

The two firms are aiming to educate people in crisis about cryptocurrencies by introducing the ZEN token to them. ZEN is a digital coin introduced by Horizen in mid-2017.

Refugiados recibiendo enseñanza básica en #criptomonedas, autoevaluación y comercializando con ellas. Gracias @horizen_spa gracias @Levis_Caycedo #crypto4good #criptoXayudahttps://t.co/gnQgjlKVBu pic.twitter.com/GMDTDuLttS

— Cripto Conserje (@CriptoConserje) November 23, 2018

Crisis in Venezuela

In the initial phase, the firms are targeting the heavily affected communities in Venezuela. Venezuela is facing a massive economic crisis which has turned into a grave problem in the last few years. The increasing inflation in the country has resulted in its fiat currency becoming a worthless piece of paper.

The crisis is so massive, that thousands of people are starving, and according to a Vox report, one month’s salary of a low-wage employee in the country is barely enough to by a single hot dog sandwich.

This has resulted in a massive influx of refugees from Venezuela to the Columbian border-town of Cucuta. According to reports, over 2.3 million people have fled from Venezuela over the last four years to escape staggering inflation, food, and medicine shortages.

However, the refugees only carry Venezuelan bolivars which are not accepted in Colombia. Moreover, due to the decreasing value of the bolivar, it becomes very difficult to exchange them for Colombian pesos.

“Together we are providing ZEN paper wallets and education to those in need, ensuring they have secure ways to access and control their money no matter where they are and what situation they are in,” the official statement noted. ”We are also onboarding 100 local merchants to begin accepting ZEN as Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.”

Cripto Conserje has also launched Alpha Project to increase cryptocurrency adoption in Latin America, especially in Cucuta.

Government Introducing Crypto

The Venezuelan government has also turned towards cryptocurrency due to the falling value of its fiat. Earlier this year, the country’s President launched a state-sponsored cryptocurrency called “Petro” which is said to be backed by the country’s rich oil reserves. The move by the government was heavily criticized as the valuation of the digital asset was believed to be highly controlled and the US sanctions on the country barred traders from adopting the coin.