Home News Bitcoin Venezuela Supermarket Traki Adopts Cryptocurrencies as Mode of Payment

Venezuela Supermarket Traki Adopts Cryptocurrencies as Mode of Payment

November 19, 2018 13:39
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Venezuelans have not had the easiest time, given the number of sanctions that have been slapped on them by the United States of America. Earlier this year, they tried launching their own oil-backed national cryptocurrency, Petro.

That was not an easy step to take given that the cryptocurrency encountered so many obstacles, starting from the National Assembly of Venezuela to certain powerful people in the United States of America, as well. Not just that, but the Petro also received lukewarm reception when it came to India.

However, the country has now started taking alternative steps to adopting cryptocurrencies in order to bypass the existing sanctions. A Venezuelan supermarket, Traki, store which has been operating for the past 30 years has started accepting cryptocurrencies such as bitcoin cash, litecoin, bitcoin, ethereum and dash.

Unlike other initiatives, this was not a pure publicity stunt. As evidenced by a Reddit user, u/ImViTo a few days ago, the supermarket did adopt cryptocurrencies, for the convenience of its shoppers. The user said, “At first, I thought it was ‘fake news’ but then I discovered it was real, So i called up a couple of friends from a local charity and got to work. School supplies and clothing is all we bought. All paid only in BTC. Real adoption! All of it will be gifted to kids who need it. Final tally- 884 items which came to around $260!”

She added, “This was all thanks to you and your donations reddit! You did it!. Hijacking my own comment the girls from the charity just messaged that if I can donate more to please do, we still have a lot more work to do.” However, to be clear, we were unable to verify the authenticity of the video.

While this is a small step, it is nonetheless an exciting start for a country that is currently overrun by bad governmental decisions and never ending sanctions by a powerful country.

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