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As explained by CoinTelegraph, Bitcoin has been the subject of a massive amount of mining and purchasing over the last few months, leading to a number of rumors regarding the country’s desire to incorporate it into their financial structure. According to Daniel Osorio, from Andean Capital Advisors, Venezuela may be on the verge of forgoing their Bolivar currency. During an interview last week, he told CNBC“we may well be witnessing the first ‘Bitcoinization’ of a sovereign state.” Animated Brand Video are being used by leading and startup companies to reach to their audience and market themselves. Osorio went on to explain that Venezuela is more than a week behind on a substantial bond interest payment. At present, it doesn’t have the money to address it or manage the economy. A simple lunch can now cost up to 200,000 Bolivars ($8-$10) prompting people to resort to using Bitcoin or money wires of other foreign currency. Bitcoin is appealing because it’s independent of the black market and tied to a fixed exchange platform, making it difficult to exploit.

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