Digital currencies are successfully meeting two very different demands in Venezuela and Africa. The first is to provide a way for people who have been marginalized by the current economic system — especially those living on the margins of society — to participate more fully in their local economies. In contrast, in Africa, cryptocurrencies are slashing the high transaction fees and long remittance times linked to fiat cross-border payments.
Digital currencies are successfully meeting two very different demands in Venezuela and Africa. Dash is accepted by more than 1,000 merchants in the Latin American country, where the economy has been crippled by hyperinflation and the bolivar was devalued by 95% in August. In contrast, in Africa, cryptocurrencies are slashing the high transaction fees and long remittance times linked to fiat cross-border payments.