The adoption of decentralization continues to proceed at a steady pace, and more and more countries are taking the initiative of accepting DeFi in either a legal or private approach. Recently Venezuela airport has announced to start accepting BTC payments from the passengers. This is done in a private capacity and not the state of Venezuela coming forward to form an allegiance with cryptocurrencies.
The Venezuelan airport director Maiquetia says that it is important to update the current infrastructure of the airport, so it becomes accessible to people from all walks of life using crypto or not. BTC will be able to get the passengers tickets on the airport and other related services; they will be able to use BTC at restaurants, in the gift shop, as well as in every other section or offering of the airport. The Simon Bolivar international airport will be declaring BTC as an acceptable cryptocurrency soon enough in an official capacity.
Crypto Adoption In Venezuela
This airport is present in the capital of Venezuela, just in downtown Caracas. When asked if the airport will only be accepting BTC or other cryptocurrencies as well? Director Freddy Borges clarified that they would very much like to start with Bitcoin initially and when the operation has reached a smoother curve, and there are no technical issues of any kind, other cryptocurrencies will be added periodically, such as Dash and Venezuela’s very own oil pegged digital currency known as Petro. All of this transition would take place in coordination with the National superintendence of the crypto assets and the related activities.
It seems that Venezuela’s airport is going to dive into this whole adventure without first developing a legal framework directing how this whole thing is going to work in the long run. The very reason why the airport is moving with digital currencies is that the management is concerned with updating the operations of the airport in accordance with the latest monetary standards. But a much more convenient and efficient way of doing so would be to first develop a legal framework, run down all the regulatory information and analysis, and only then proceed with this transition.