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Bitcoin in the fight against Inflation: Venezuelan Department store chain Traki wants to accept BTC

The Venezuelan Department store chain Traki wants to continue to accept Bitcoin and Ether, a broad catalogue of crypto-currencies. In this case, the payment sys

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Bitcoin in the fight against Inflation: Venezuelan Department store chain Traki wants to accept BTC

The Venezuelan Department store chain Traki wants to continue to accept Bitcoin and Ether, a broad catalogue of crypto-currencies. In this case, the payment system XPOS of the Singaporean crypto is designed to help Start-ups Pundi X. With the recent collaboration aims to defy Traki the decline in the value of the Bolivar and the popularity of Bitcoin & co. for the use of.

By David Barkhausen
24. August 2019BTC$9.994,37 -4.10%part Facebook Twitter LinkedIn xing mail

Who wants to pay in Venezuela at the gas station, doing this day with a packet of biscuits. Hardly anyone trusts the Bolivar on the way. The domestic currency is in free fall and, thanks to the Hyperinflation practically worthless. Crypto-currencies such as Bitcoin in the crisis country of Venezuela, however, is highly cyclical.

In the fight against Inflation will make this Trend now also the local Department store Traki-to-Use. In the future, customers will be able to pay with crypto-currencies such as Bitcoin. To enable this, the Singaporean Start-up Pundi X. announced A joint cooperation of the Tech companies in an official blog post.

by Using its payment system XPOS want to brave the Department store Traki now, therefore, the decline in the value of money. XPOS should allow customers in the future, in addition to the crypto-sizes Bitcoin and Ether, with a broad spectrum of digital currencies for your shopping to pay.

With a network of 49 branches Traki is one of the largest Department store chains of the South American country. In addition to food, the chain also offers its customers household goods and clothing.

So that customers can settle all of this in the future, convenient digital, you are now decided for the Payment Update, expresses Michael Gomez, head of the crypto Department of the company:

We Traki set ourselves the goal to offer our customers the most convenient payment ways. Crypto-currencies have proven to be the efficient solution. Our cooperation with Pundi X reaffirms our ambition, [Bitcoin & co.] to use in our stores as easy as Fiat currency.

For the Singaporean Start-up, in turn, the partnership will only be a first step to gain a foothold in Venezuela by foot. As it says in the blog post, more if one wants to establish in Venezuela in the future, in its global payment network and in addition to Department stores, pharmacies, tourism and the health sector with crypto-technology equip. Worldwide Pundi X currently manages a total of 300,000 customer Accounts in 25 countries.

The Bolivar is in freefall: Venezuela relies on Bitcoin & co.

The Situation in Venezuela these days seems to be hopeless. The struggle for Power in the capital, Caracas, remains unresolved. Under the pressure of new U.S. sanctions, the economic performance of the country, in the meantime, the bottom of the valley. In early August, the U.S. had frozen the assets of the Venezuelan government and a trade ban. Since then, it is US-Americans forbidden to do business with the country. Although US President, Trump announced this week, as last, there was again talks with Caracas, which should alleviate the Hardship in the country. With a rapid improvement in the situation of the least expected, however.

Away from the diplomatic parquet crypto currencies for many of the residents of the country a glimmer of hope. Long Bitcoin is considered to be most important – at least relatively – stable parallel currency. The trading with the crypto-driving high is currently at an all-time. In addition, other crypto to currencies, such as, for example, Dash has a great popularity among Venezuelans enjoy. In everyday life, however the digital Alternative to be placed is still a great hurdle. As observers declare, that it would be lacking in the country is currently at the acceptance points. Into this breach Traki seems to want to jump.

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