Venezuela Isn’t the Crypto Use Case You Want It to Be
Cryptocurrency enthusiasts love to talk about Venezuelan users as an example of bitcoin's subversive potential – but the reality is more complex.
P2P crypto trading platform LocalBitcoins has reportedly removed an option allowing users to buy or sell cryptocurrencies in person for cash.
Another crypto buying and selling service has banned Iranian users, pushing them toward anonymous decentralized exchanges.
LocalBitcoins data is a starting point for research, but it isn't conclusive evidence of grassroots adoption.
The Open Money Initiative is bringing insights from Venezuela to help crypto startups make better tools for people in distressed economies.
Peer-to-peer bitcoin trading site LocalBitcoins says it's suffered a hack via a third-party service that affected a small number of users.