Cuba Wants to Bypass Sanctions With Crypto

Financial minister says cryptocurrencies are considered only as one of the components of a broad plan to improve the economy and raise the standard of living
04 July 2019   1465

Cuban authorities are exploring the possibility of cryptocurrency to bypass US sanctions and mitigate the effects of the economic crisis, reports Reuters.

We are studying the potential use of cryptocurrency ... in our national and international commercial transactions, and we are working on that together with academics.
 

Alejandro Gil Fernandez

Economy Minister, Cuba

However, according to the official, cryptocurrencies are considered only as one of the components of a broad plan to improve the economy and raise the standard of living.
The complex of government measures includes improving the efficiency of state-owned companies, stimulating local production, import substitution, increasing exports, currency liberalization, etc.

American sanctions and the cessation of support from Venezuela had a strong impact on Cuba’s economy, lowering the already low standard of living of the population. Depending on the industry, at present the average salary of a local worker is equivalent to 25-40 US dollars. There is a shortage of some food products in the country, which is why the authorities have imposed restrictions on the purchase of various goods.

The release of currency El Petro did not really help Venezuela to cope with the acute socio-economic crisis, accompanied by record hyperinflation.

Fake ZecWallet to be Found at GitHub

According to the mine Zcash twitter account, the fake wallet has different size and checksum
21 October 2019   26

Representatives of the ZCash community discovered a potentially malicious fake version of the ZecWallet native wallet on GitHub.

Earlier in the Zcash protocol and most of its forks, a vulnerability was found that could reveal the IP address of a full node that owns a secure address (zaddr).