Anibal Garrido, Co-Organizer of Caracas Blockchain Week: "Education is The Way to Increase Adoption"

Venezuela is one of the countries that has been most reviewed in the Latin American cryptocurrency ecosystem. With one of the highest inflation rates in the world, a strong social crisis, and a population open to technological innovations, it has all the conditions to have one of the spaces where the adoption of the Web3 ecosystem has given a lot to talk about.

To learn a little more about all this reality, I talked to Anibal Garrido, who is an educator of the Blockchain ecosystem in the South American country, as well as co-organizer of the Caracas Blockchain Week, Venezuela's international Bitcoin and Web3 conference.

Do you think the adoption of cryptocurrencies in Venezuela is really as relevant as people think?

Anibal Garrido (AG): In my personal opinion, the most relevant thing is to refer to the studies on the adoption of cryptocurrencies carried out by important companies such as Chainalysis or Statista. In these studies, we can see how, over the years, the adoption of cryptocurrencies in Venezuela has been reflected among the top positions in the different rankings that have been published.

Local studies in the country have also pointed out that the use of cryptocurrencies as a form of payment represents about 1.8% of all payments made in the national economy, which may seem like a small number, but it is really gigantic compared to what can be seen in other countries and places.

Now, my perspective within Venezuela is also in line with what these studies show. I can personally say that I have seen how cryptocurrencies are widely used and accepted in our spaces, from payment methods to savings mechanisms.

Despite the large adoption, you point out, do you think there is room for it to grow further?

(AG): Undoubtedly, there is always room for growth. In my opinion, education is the key to boosting the adoption of cryptocurrencies in Venezuela. Despite a significant percentage of the population being familiar with the Web3 ecosystem, there is still a need for more people to delve into its various elements and grasp the details of this vast world.

Elements such as cybersecurity, risk management, and fundamental concepts of blockchain technology require further expansion within the Venezuelan communities.

How can the education you are referring to be expanded within Venezuela?

(AG): We are a group of individuals working towards educating the population about Blockchain technology. As an enthusiast and believer in the Web3 ecosystem, we took the lead in organizing the Caracas Blockchain Week along with like-minded individuals all across the region. The event started last year as the international conference of Bitcoin and Web3 in Venezuela.

Last year's edition saw over 3300 participants, including 20 international and national companies showcasing their products to Venezuelans. The event included almost 80 talks and panels focused on the Web3 ecosystem. I believe the event played a significant role in boosting the education and adoption of cryptocurrencies in our country.

However, this is not an action that ended with last year's edition; certainly, the event was a success, and we plan to continue its legacy by repeating the second edition of the Caracas Blockchain Week this October in the Venezuelan capital.

In this 2nd edition, education will once again be a fundamental pillar. We will cover both foundational topics related to the adoption of cryptocurrencies, as well as technical issues that allow us to know the necessary tools to build within the Web3 world.

We will achieve this through alliances with major educational institutions in Venezuela, which have been supporting the education of Blockchain and Web3 technology among their students for several months now. This way, we aspire to expand knowledge of cryptocurrencies even further in our country, but from a completely professional standpoint.