2018 has been a year defined by economic crisis for many countries especially for South America. Venezuela, Argentina, Brazil have all faced protracted and difficult crisis events which have severely damaged their economies. Each of these countries is experiencing high levels of inflation among other effects.

Even before bitcoin captured the attention of mainstream investors, the world’s largest cryptocurrency had drawn interest from citizens of Venezuela. Venezuelans experiencing capital controls imposed by President Hugo Chavez as far back as 2003 sought a means for relief. Because hyperinflation has been a major factor in the Venezuelan economy for decades now, as soon as cryptocurrency became available and known, Venezuelans turned to it. The fate of Venezuela reveals what might be the greatest flaw in government fiat currencies; they make it real easy for corrupt or incompetent leaders to loot the nation’s wealth. Residents in these beleaguered nations are turning more and more to cryptocurrencies as a means of exchange and as a store of value.

A new currency revolution: PAX PAGO

The PAX Pago platform will offer solutions to mitigate these challenges. The goal is to return liberty into the hands of citizens by opening new channels of commerce. PAX Pago is utilized as payment for items produced, products sold or services rendered. Our platform offers high-speed value of transfer, and enable transparent information flow in addition to combating problems of inflation, inefficient public services, and slow technological advances. PAX Pago will be an medium of exchange.

PAX Pago is aiming to achieve a Payment Platform that is able to fulfill all recognized monetary challenges that include being base unit of account, and an medium of exchange for the purpose of empowering Smart Countries. Further expectations will prove central to the development of a host of core elements of the overall distributed ecosystem, whether prediction markets, lending facilities, and insurance vehicles, in addition to a variety of other dApps, only reinforces this sense of anticipation and possibility. The project will create the ideal system for token transfers. The intermediate goal is to offer PAX Pago users a cost effective and faster alternative to stabilize their fund and provide liquidity.

PAX Pago Platform will transition from early stages of building upon a better network to facilitate the process of cryptocurrency and fiat exchange. When foundation of this network is proven, the project will progress into the development of a Smart Economy. Features of the development includes but not limited to the following: multicurrency, cryptocurrency wallet, and blockchain capable hardware payment processor, smart contract enabled consumer/brick and mortar incentive focused systems, and more.