How People Use Money in Closed Economies and Collapsing Monetary Systems

Philly Blockchain Tech is back with another digital-only event. This month, we're excited to welcome Alejandro Machado for a Q&A style discussion about the use of crypto and other forms of money in closed economies, with a special focus on Venezuela.

Alejandro Machado is a Venezuelan computer scientist. After doing a Master's in Human-Computer Interaction at Carnegie Mellon University, Alejandro has worked around the world and been involved in several cryptocurrency ventures like Zcash, the Open Money Initiative, and Valiu.

A common claim thrown around in the crypto community is that we're somehow helping to "bank the unbanked" of the world. Though it's frequently repeated, it's hard to find evidence we've had this impact so far. And perhaps it's not that surprising, because it doesn't seem many of us take the time to understand the actual financial needs of the so-called unbanked.

The Open Money Initiative, of which Alejandro is a part, is an exception to this rule. Their extensive, on the ground field research in and around Venezuela offers a unique snapshot of the needs of people trying to function in a collapsing monetary system. Their work gives insights into where crypto might actually serve these needs, and Alejandro is now pursuing this with his company, Valiu.

This should be an invaluable discussion for those interested in seeing crypto have a positive impact on the world. We can't wait to bring it to you.