Venezuelans are having a difficult time as the country’s power grid shut off on March 7, leaving the majority of Venezuelan states with no electricity for well over a week. According to reports on March 14, electricity has been restored throughout most states within the country. However, during the week-long blackout, bitcoin trades on the peer-to-peer exchange Localbitcoins plummeted by 40 percent.
Venezuelan Infrastructure Remains in Dire Straits
The Venezuelan people have been suffering for quite some time as the nation’s inflation rate has crossed a whopping 2,688,670 percent as of January 2019. The Venezuelan fiat currency, the bolivar, is basically worthless and there are many pictures of banknotes strewn across the streets within the capital of Caracas and other areas. To make matters worse, on March 7, the country lost electricity during a severe blackout. Much of the region’s telecommunications system seized as well, making it difficult for individuals within the country to communicate to the outside world.
Despite electricity being restored, Venezuelans are having a hard time finding clean water as household faucets are spewing a black oily substance.
On March 14, reports stemming from the Venezuelan Information Minister Jorge Rodrigues detailed that power was “100 percent restored.” However, the nation’s citizens are still searching for clean drinking water as residents of the country are complaining of oil-contaminated black water coming out of their faucets. On March 13, a blog post titled “Synthesis of a ‘Blockout’” emphasized that Venezuelan residents right now have no choice but to look to the country’s polluted riverways for water.
Venezuelans in search of water are forced to use the liquid in the country’s riverways. » Read Full Article «