Venezuela is going through an economic turmoil, and this is not good for the country’s economy, not to mention the social unrest such situations create in a country. However, cryptocurrency backed startup Bitrefill is reporting an increased sale during the blackout.
The real cause of the blackout is still unclear since the government is accusing the US government of plotting against the oil-rich state. However, this leaves the citizens in a state of panic. Resources are rotting away in refrigerators, and the communication is tough.
Bitrefill disclosed in a blog post that the blackout week saw a “sharp increase” in mobile top-up sales in the country when the conventional resources were unavailable. The citizens retorted to the unconventional method in time of need, and it proved to be a good solution.
The service explained that the company is operating in the country through its partners, but given the situation in the country, Bitrefill has decided to further subsidize the products for sale in Venezuela.
After the announcement Venezuelans can now enjoy the products and purchases available on the platform at the “face value” according to the local BTC/VES pair rates. Bitrefill offers cryptocurrency based mobile refills in one hundred and seventy countries.