Venezuela launched their first virtual currency called the petrol. It is the first crypto coin of the country, and it’s backed by oil reserves. Now AirTM and Zcash have partnered to allow the Venezuelans to buy and sell alternative currencies (altcoin) on AirTM’s peer-to-peer network.
The two firms already had a pre-sale for the petro sale, but there seems to be a lot of disagreements in the nation about this virtual currency, with the majority saying that it makes the incidence of corruption easier than ever before. It is not the first time the current regime of the country is trying to create a monopoly for their country’s money.
Presently, there has been continuing humanitarian crisis that occurs there for many years because of crazy prices that resulted from hyperinflation of their fiat currency, and sanctions that have been placed on Venezuela by many nations.
AirTM is a firm focused on allowing people in the developing countries of the world like Venezuela to gain more financial freedom and prevent their wealth from wiped out due to actions of their government.
AirTM allows everyone to easily help all citizens of the developing countries with a financial relief in the form of remittances or donations. The people receiving the funds will also have the ability to withdraw their collected funds from their local bank account or through any other e-money networks that AirTM partners with, like PayPal and Amazon or through cryptocurrency.
Privacy matter the most for people looking forward to achieving a level of-of freedom. This privacy is what Zcash brings to the table all thanks to privacy technology that makes it secure whenever users send or receive the funds, thus providing a shielded transaction for all users.
Any moment the Sapling upgrade is ready for the Zcash network, AirTM machines will be allowing the Venezuelans to carry out their business privately without exposing themselves to the dictatorial regimes which are likely to persecute them.
The two companies formed a partnership together to help allow for financial freedom to be encouraged in the areas where there are severe financial regimes in place.