The Venezuelan Crisis with a technology silver lining

 

This is what unchecked Socialism can do to a rich country!.

Terrible to see so many Venezuelans leaving their country.

 

 

It used to be a great country.

 

 

Hyperinflation Hits 80,000% Per Year in 2018

 

 

 

 

 

 

 

 

 

 

 

A silver lining in the Venezuelan crisis. Hyperinflation meets tech.

Cash-scarce Venezuela sees boom in payment apps

Venezuela’s hyperinflation, one of the first of the digital era, is producing surprise winners in a tough business climate: small technology companies based in the crisis-stricken country.

“We don’t handle cash because our clients don’t have it,” he added. “With the applications I use, I’ve got their money before they’ve even left the parking lot.”

“I accept transfers. I have Tpago, Vippo and almost all the applications out there!” said one merchant, as he clutched a worn-out tablet and a basic mobile phone.

  

 

About PicNet: Founded in 2002, PicNet has been a leading provider of IT services and solutions to Australian businesses and Government.  PicNet (People, Information and Collaboration Network) helps organisations use technology to increase productivity – www.PicNet.com.au

 

About Marco Tapia: PicNet Managing Director MBA (UNSW), BSc, Dip (Business Analysis), MAICD – Founder of PicNet and responsible for its overall strategic direction, its consulting services and its business development –  marco.tapia@PicNet.com.au

 

Sources:

 

Aljazeera: https://www.aljazeera.com/indepth/interactive/2018/08/venezuela-crisis-numbers-180824123136718.html

Forbes: https://www.forbes.com/sites/stevehanke/2019/01/01/venezuelas-hyperinflation-hits-80000-per-year-in-2018/#710b961f4572

Reuters: https://www.reuters.com/article/us-venezuela-economy-apps/hyperinflation-meets-tech-cash-scarce-venezuela-sees-boom-in-payment-apps-idUSKCN1FZ1E4

 

 

 

14/2/2019

Feb, 14, 2019

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