Necessity is the mother of invention. Whenever an obstacle appears to a person to achieve his goal, he will not rest until he finds a solution to it.

Venezuelans face accumulated economic problems, in addition to poor Internet services, which made the “Criptolago” platform provide the ability to send cryptocurrencies without the need for the Internet, and the process is done by text messages only.

According to the Criptolago platform, the initiative was launched in response to a call from President Nicolas Maduro, who urged companies to develop payment mechanisms parallel to the traditional banking system.

But Criptolago has not only listed Petro, the platform has enabled offline transactions for all cryptocurrencies listed on its platform.

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In other words, Venezuelans can now send petro, bitcoin, litecoin and dash without the need for an internet connection, and the platform has also made the national fiat currency “bolívar” available.

Follow our boss’s instructions Tweet embed and us # cryptchenwith the new functionality of payments by #short message We have opened the opportunity for all Venezuelans to transact # Petro in a very practical way Tweet embed Tweet embed

– Cryptolago April 5, 2020

At the moment, the service is only available to registered users, but the setup process remains relatively easy.

The real problem for Venezuelans may be finding an acceptable price for the petro.

Since the real price of the “petro” currency is unstable to work as a practical method of exchange, for example, while official government sources say that the price of the petro is equal to $58.9 per token, today the petro was traded for approximately $11.50 on the Amberes platform. And on the “Criptolago” platform, the price of the petro currency reached $ 20 per token on the same day, according to the news site.Moroccan currency“.

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Criptolago is perhaps the most sought after platform in Venezuela because it offers advanced solutions to boost the use of cryptocurrencies in the country.

Prior to launching an option for offline payments, the platform partnered with Venezuelan crypto payment processor “Glufco” to offer its customers points of sale that allow them to process crypto payments using a card similar to the widely used debit or credit cards today.

Crypto in Venezuela:

But even before Criptolago, Venezuelans have been texting cryptocurrencies since 2018, the most popular solution at the moment is Dash Text, an offline wallet promoted by the Dash Core group.

There are currently more than 8,000 active wallets in the US, Colombia, Spain, Brazil and Venezuela, according to Dash.

Users only need to send a text message, and the Dash Text platform processes the transaction in real time.

But while it may sound promising, offline payments still have a long way to go before becoming mainstream. Dash Text has reported around 6,456 offline transactions since January 2019. Of these, the majority came Great (6105) from Venezuela alone.

Ernesto Contreras, Head of Business Development at Dash said:

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Dash is getting an average of four offline transactions a day which is a sharp drop from more than 30 a day before the market crash in mid-March.

Ernesto added:

The lower price of Dash is causing fewer people to want to spend, so we’ve been out of money for two months, so we haven’t been able to continue some of our activities.

In February, we were funded again, and we raised the limit to 300 transactions which is double 10 times a day, but in March, with the coronavirus, everything stopped.

Criptolago has not yet shared usage statistics, but its development could lead to positive results.

Given how unstable the internet connection is in Venezuela, as well as the drastically devaluing national currency, offline crypto payments can be the only thing that matters for a country like Venezuela.

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