Using Blockchain to Protect Venezuelans From Hyperinflation

Simon Chamorro, co-founder of Valiu, discusses the economic crisis in Venezuela, marked by hyperinflation and the collapse of the Bolivar. Valiu aims to protect Venezuelans' wealth using cryptocurrency, offering a platform for remittances and local payments. Simon shares his personal journey from industrial design to tech and crypto, highlighting the potential of blockchain to transform society. Valiu's goal is to enable digital dollar payments, reducing reliance on the Bolivar. Despite past failures like El Petro, Simon believes blockchain remains a strong foundation for future economic solutions.

What is the primary goal of Valiu as described by Simon Chamorro?

• To increase political stability in Venezuela

• To build infrastructure in Venezuela

• To provide free education to Venezuelans

• To help Venezuelans protect their money from hyperinflation

How much value did the Bolivar lose in two years due to hyperinflation?

• 100%

• 99.9%

• 75%

• 50%

What was Simon Chamorro's initial field of study?

• Economics

• Industrial Design

• Political Science

• Computer Science

What is Valiu's main objective for merchants in Venezuela?

• To provide loans to small businesses

• To accept digital dollars as a medium of payment

• To offer free financial advice

• To accept payments in Bolivars

What is the minimum wage in Venezuela as mentioned in the video?

• $100

• $10

• $1000

• $1

What was El Petro backed by?

• Diamonds

• Oil

• Cryptocurrency

• Gold

What is considered a paradigm shift for the human race according to Simon?

• Traditional finance

• Cryptocurrency

• Blockchain technology

• Digital banking