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Alejandro Machado (Open Money Initiative) – Contemporary Dollarization in Venezuela (EP.56)

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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
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