Venezuela residents get scholarship to learn NFT, crypto mining


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TL;DR Breakdown

  • Jose Teran, a governorship candidate promises Venezuelan scholarship to learn about crypto.
  • Says training is capacity building for beneficiaries as it would provide employment.
  • Crypto adoption in Venezuela continues to rise.

José Alejandro Terán, a gubernatorial candidate in Venezuela, has promised to offer scholarships for citizens interested to join the Technical Training Center for Mining and Administration of Digital Crypto Assets.

The scholarship would be supported by four others, they are; the National Superintendence of Cryptoassets (SUNACRIP), Axie Infinity Academy, the political group Independientes con Terán and the youth of the United Socialist Party of Venezuela (JPsuv).

The aspiring governor, who represents the country’s ruling party, started the initiative as a part of the La Guaira Digital program. The program aims to fast-track growth and induce economic stability in the country.

The training center will provide specialized training to the scholarship holders in nonfungible tokens (NFT), crypto mining, and trading.

Scholarship to provide thousand jobs for beneficiaries – Terán

The governorship aspirant explained that the scholarship is about capacity building he envisions a thousand jobs to be created through his proposal.

“I feel that by helping young people build multiple sources, we ensure economic stability for their families. 1,000 jobs in a year, write it down!”

He also said that the training powered by Axie Infinity academy would include installing and repairing networks and mining equipment and crypto trading.

Crypto adoption in Venezuela

According to data sourced by Chainalysis, Venezuela stands as the seventh country in the Global Crypto Adoption Index.

Cryptocurrency remains one of the most popular means of exchange in the South American country even before El Salvador made Bitcoin a legal tender. In Venezuela, the country has floated its own digital asset (Petro) and turned the green light on cryptocurrencies to reduce the economic impact of its failing currencies.

Recently, the media was abuzz of how Simón Bolivar International Airport, better known as the Maiquetía International Airport, will add Bitcoin, Dash, and Petro — Venezuela’s native cryptocurrency which is backed by oil reserves — as payment options to the two million travelers that pass through the airport each year.

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Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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