In a commendable response, a charitable campaign has secured registrations of over 60,000 beneficiaries and raised $272,000 to aid the Venezuelan populace. The charity mission was started at the end of 2018 to provide economic relief to the turmoiled citizens of Venezuela by AirTM, Mexico’s e-currency startup. The campaign aims to donate up to $1 million in cryptocurrency to the South American nation. The news was made global on 21 April by Steve Hanke in an interview with National Public Radio.
Professor Steve Hanke leads the campaign called “Airdrop Venezuela.” He was the economic advisor to Rafael Caldera, former President of Venezuela, from 1995-1996 and currently teaches applied economics at Johns Hopkins University.
About AirDrop Venezuela
The AirDrop Venezuela campaign makes use of the pre-existing blockchain and electronic wallet technology of AirTM. The electronic wallet features a total of 10 cryptocurrencies including USD token and AirUSD. The AirDrop Venezuela campaign hopes to achieve 100,000 verified Venezuelan registrations for $1 million donations.
Bitcoin Cash leads the list of donated cryptocurrencies with about 670 Bitcoin cash, amounting to around $194,900 raised thus far. In addition to Bitcoin cash, other cryptocurrencies include bitcoin core, zcash, dai, ethereum, and AirTM. The fund would be allocated weekly to the registered AirTM wallets.
Expected Benefits of the Campaign
Beneficiaries could then use the cryptocurrencies and exchange them for USD to buy food, clothing, medicines, and other such necessities.
Professor Steve Hanke stated that the project simply aims to remove poverty and provide economic freedom to the needed. The project also focuses on the power of cryptocurrency to securely provide the deliverance of funds to those in need. The country of Venezuela witnessed an all-time high trading record of Bitcoin in February amidst the political and economic battle going on effectively highlighting the power of the innovative tech.