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MerkdoSur, a Venezuelan community where everything is sold in crypto

August 6, 2020

Venezuela has long been a benchmark for the crypto market and a mark of ease of use in various elements. To identify one of these use cases, We met the MerkdoSur community, a Telegram group made up of more than 150 Venezuelans who offer products and services that are all payable in cryptocurrencies.

To learn more about the dynamics of this environment, We entered the MerkdoSur community directly to meet its participants and to be able to speak to Dionardo Aparicio, the founder and current administrator of the community.

Upon entering, we were able to experience the huge range that is shown among the participants directly. Technical services for electronic equipment repair, vehicle spare parts, carpentry, ice cream, bread, medicines, legal proceedings and various food delivery services are just some of the items we detail in the diverse Venezuelan community.

MerkdoSur, a Venezuelan community where everything is sold in cryptoMerkdoSur, a Venezuelan community where everything is sold in crypto

Based on what we could see between operations The main cryptocurrency used for payments between the community is EOS. Aparicio told us that this is the most commonly used currency as EOS Microloan, a DeFi that operates within the EOS blockchain, is a leader in the region. Even if, We have also seen people perform operations with other cryptocurrencies as well.

In terms of the number of operations performed within the community, we have been able to observe the number of operations performed. On this point, Aparicio added that an average of 200 operations are performed per month and that the number has increased in recent months. From what we could see the platform is also suitable for buying and selling cryptocurrencies between pairs.

To ensure that the operations are performed in the best possible way and that there is no fraud At MerkdoSur they have a reputation system. Aparicio explained that this system runs thanks to a bot managed in Telegram that is public to the whole community and can be deployed at any time so you can see who is performing the operation. According to what Aparicio later explained, the reputation of both the buyer and seller is built with every operation they perform within the ecosystem and is monitored by him as the community administrator.

At the beginning of the project, Aparicio first told us that he started in a small community via WhatsApp and then migrated to Telegram. In the plans for the future, he explains that the possibility of creating a marketplace on a website that works with blockchain is being considered.

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