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Blockchain Firms Collaborate to Provide Economic Relief to Venezuela

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Ontology Partners with Venezuela Blockchain to Develop Economic Initiatives to Benefit Citizens

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  • Ontology and Venezuela Blockchain collaborate to leverage blockchain technology to provide solutions for the amelioration of Venezuelan economy.

Venezuela has long been struggling with an economic crisis and hyperinflation. Amid this, Ontology, a high performance public blockchain platform in a conjunction with Venezuela Blockchain is attempting to bring about economic relief to benefit the citizens.

The firms are leveraging emerging technologies to fuel socio-economic development in Latin America. Through this partnership, Venezuela Blockchain aims to execute a number of initiatives with the help of Ontology. To kick start the collaboration, Ontology’s blockchain and distributed collaboration platform will be integrated into Venezuela Blockchain’s Family Social Program charity with an aim to furnish basic income to the citizens of the country. Besides this, Ontology will also encourage Latin Americans to find online-based work with crypto payments instead of traditional systems.

Erick Pinos, Americas Ecosystem Lead at Ontology, said:

“Venezuela’s vibrant blockchain community is fueling the country’s ascent as a dynamic hub of DLT activity, and we are excited to open the doors to crossover collaborations between members of both the Venezuelan and Ontology communities. Today’s announcement gives expression to our commitment to broadening our own community horizons, and delivering tailored DLT solutions that will empower citizens globally.”

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