Venezuelans To Get Cryptocurrency Donations Via Airtm Platform

Investing, News, Regulation | January 14, 2019 By:

Cryptocurrency platform Airtm is joining with a Johns Hopkins professor to raise $1 million in digital currency for impoverished Venezuelans.

Steve Hanke, a hyperinflation expert and professor of applied economics at The Johns Hopkins University, is the spearhead of the campaign.

“Cryptocurrency holds great promise as a mechanism for the direct transfer of donations to impoverished people,” said Hanke. “Indeed, Airdrop Venezuela will demonstrate that cryptocurrencies can be transformed via free-market peer-to-peer exchanges into useful money–real money to buy real things.”

 “One promising use for cryptocurrency is to move value across borders in a way that cannot be stopped by authoritarian regimes,” said Hanke. “For the millions of people in Venezuela whose lives have been destroyed by hyperinflation, direct cryptocurrency donations will be a lifesaver.” Prof. Hanke served as Venezuela President Rafael Caldera’s chief adviser (1995-1996) and currently commands a serious presence in Venezuela via the Instituto Hanke de Economia Aplicada in Caracas.

Airtm operates a blockchain and bank-connected digital wallet and peer-to-peer exchange platform (the AirPlatform) that provides financial services to consumers and businesses in the developing world. Airtm helps consumers and businesses in countries with devaluing currencies, hyperinflation, and limited banking systems exchange local money for cryptocurrencies (including fiat-pegged cryptocurrencies such as AirUSD), at the free market rate determined by exchanges on its peer-to-peer platform.
Venezuela is currently under severe sanctions from the US, including prohibitions on purchasing the state cryptocurrency, the oil-backed Petro. The current campaign will not support Petro as an exchange mechanism and “we are compliant with all laws and regulations wherever we operate,” claimed Tim Parsa, co-founder and executive chairman of Airtm.
Airdrop Venezuela has already raised $160,000 in cryptocurrency, with a target of $1 million. Donations will be distributed to the Airtm accounts of 100,000 Venezuelans, who will then be free to use Airtm’s peer-to-peer exchange network to exchange the cryptocurrency as they desire.