Worst Cases of Hyperinflation: What It’s Like & How To Survive!!

"according to analytics firm chain analysis crypto adoption in Venezuela was the third largest globally in 2020 and seventh in 2021 they don't have data for the country in 2022."

"Nader told my colleague at coinbureau that crypto has provided a Lifeline for businesses and individuals who can't access their bank accounts and served as a valuable conduit for remittance payments is both into and out of Lebanon increased adoption of crypto he says can also be linked to long-established currency exchanges like MoneyGram and Western Union"

"another facet of lebanon's crypto story is mining although electricity cuts are commonplace a small pocket of the country next to a hydroelectric plant has a steady power supply which has helped spawn a crypto mining Hub now the activity was not worth it before the crisis but with the minimum wage at around 30 USD a month and the large amount of Lebanese Lira that can be bought with USD on the black market mining now provides a steady source of income"

"as coin Telegraph reports entities accepting crypto include the main International Airport a major supermarket chain casinos and the largest cable TV operator you can also pay with crypto at several fast food chains"

"although now it appears the government is backtracking in early 2023 the government launched a probe into corruption after discovering that anywhere from 3 to 20 billion dollars was missing from petroleos De Venezuela essay the national oil and gas company the government Department in charge of cryptocurrency matters yes Venezuela has a Ministry of crypto has become a focal point of the anti-corruption investigation and as a result of this probe many large-scale Bitcoin miners have been forced to turn off their operations in Venezuela"

"in 2017 the Central Bank ordered all banks to stop processing transactions involving cryptocurrencies calling the likes of BTC and altcoins quote the currency of choice for money launderers and other criminals"

"as of November 2021 Zimbabwe Republic Police had received 892 complaints related to cryptocurrency scams and the issue persists just last month news broke of a crypto Trader in court over allegations that he had siphoned off almost half a million US dollars worth of crypto from wallets he had set up on behalf of a client"

"Zimbabwe's gold-backed digital tokens are a form of electronic money backed by yep the country's gold reserves the tokens will be sold through banks in both local and foreign currencies initially for investment purposes and later for transactions"

"the World Bank nearly 3 million zimbabweans living abroad contributed just over seven percent of the country's economic output in 2022 by sending money home however middlemen often charge 10 to 20 percent in fees"

"indeed the world economic Forum estimates that implementing crypto solutions could save the Zimbabwean diaspora up to 90 million dollars annually in remittance related fees"

"Zimbabwe had abandoned its inflation ravage dollar back in 2009 after reaching incomprehensible levels of inflation 500 billion percent wiping out pensions savings and confidence in the currency"

"the aim of the initial is to stabilize the plummeting currency and offer an alternative to the US dollar"

"news reports quote multiple economists expressing their skepticism of the digital currency they argue that it will have limited impact on money supply growth failed to fully address the demand for foreign currency and necessitate broader macroeconomic reforms to tackle the country's persistent currency instability"