The Venezuelan real estate sector faces great challenges in the current context of economic, social and political crisis. The shortage of foreign currency, the lack of mortgage credit, hyperinflation, legal uncertainty and lack of trust in institutions make it difficult to develop a dynamic, transparent and efficient real estate market. However, technology can offer innovative solutions to overcome these obstacles and transform the real estate business in the country. Web3, Blockchain, smart contracts, NFTs, tokens and cryptoassets are concepts that are part of the new generation of the internet, which is based on decentralization, artificial intelligence and the digital economy. These technologies allow the creation of platforms website that connects real estate agents, owners, buyers and service providers related to the sector, without intermediaries or paperwork. In addition, they allow you to store and manage all information and transactions related to the real estate sector in a secure, transparent and automated way, through the use of blockchain technology and smart contracts. Blockchain technology is a distributed registry system that guarantees integrity , immutability and traceability of data. Smart contracts are self-executing programs that are activated when pre-established conditions are met, which facilitates the automation of processes and the reduction of costs and times. NFTs (non-fungible tokens) are a way to digitally represent the ownership of a unique and unrepeatable, like a work of art, a car or a house. NFTs can be transferred quickly and securely through the use of cryptoassets, which are units of digital value that can be exchanged on the blockchain network. These technologies can have a positive impact on the Venezuelan real estate sector, as they can offer advantages such as :Greater transparency and security in real estate operations, by avoiding fraud, falsification and breach of contracts.Greater efficiency and speed in real estate operations, by reducing bureaucratic procedures, intermediation costs and market access barriers. Greater inclusion and democratization in the real estate sector, by allowing access to property to people who do not have resources sufficient or that are located in remote or difficult-to-access areas. Greater innovation and creativity in the real estate sector, by enabling the creation of new business models, products and services, that adapt to the needs and preferences of users. These technologies They also pose new challenges and opportunities for the Venezuelan real estate sector, such as: The need to adapt to the technological and regulatory changes that occur at the national and international level, and to have the support of the competent authorities to guarantee legal security and tax of real estate operations. The need to train and train real estate agents and users in the use and management of these technologies, and to promote digital culture and trust in the sector. The possibility of transforming the definition of what It is a property, by incorporating digital elements that give it added value, such as virtual reality, augmented reality or artificial intelligence. The leading role that the real estate union, led by the Real Estate Chamber of Venezuela, must assume, committing to this natural evolution of the real estate business and its sustainable development. Web3, Blockchain and NFTs are the future of the Venezuelan real estate sector, and represent a unique opportunity to boost its growth, competitiveness and progress.

Venezuelan prosecutors have arrested 21 people in connection with a wide-ranging cryptocurrency-related corruption scheme on state oil company Petroles de Venezuela SA (PDVSA), according to Reuters.

The expanding anti-corruption probe in Venezuela has led to the detention of 10 officials and 11 businessmen. The country’s attorney general has also issued arrest warrants for 11 more people.

@azcoinnews

The investigation, which began in October, is focused on state oil company PDVSA, a government entity supervising cryptocurrency operations, and the judiciary. This week, it led to the resignation of the country’s powerful oil minister, Tareck El Aissami, who had served the government for two decades.

According to Attorney General Tarek Saab, the corruption scheme involved officials, businessmen, and young people, including the so-called mafia women, who participated in corruption and money laundering. Saab described it as “one of the most lurid plots in recent years.”

The investigation revealed that a Venezuelan entity supervising the use of cryptocurrency for official transactions was assigned oil cargoes for sale with no administrative control. Many of the buyers did not pay for the oil correspondingly, leading to accusations of appropriation of public assets, money laundering, influence peddling, and criminal association.

PDVSA has accumulated $21.2 billion in commercial accounts receivable since 2020, including $3.6 billion potentially unrecoverable, after turning to dozens of little-known intermediaries to export its oil under US sanctions.

President Nicolas Maduro, who said he has been directly overseeing the probe, this week appointed PDVSA’s head Pedro Tellechea as new oil minister, delegating in him the supervision of the whole industry.

This is not the first time the attorney general’s office has investigated corruption in Venezuela’s oil industry. In the last five years, Saab’s office has investigated 31 cases linked to corruption, leading to almost 200 people prosecuted. The country’s designated official body to regulate crypto assets, Sunacrip, has also been hit by corruption allegations, with its head Joselit Ramirez and several other government officials arrested on Mar. 18.

These arrests and investigations are part of the Venezuelan government’s efforts to combat corruption in its oil industry and beyond. As the country’s main source of hard-currency revenue, it is essential to ensure that the industry operates transparently and ethically. The world will be watching closely to see if these efforts result in real change.

#Venezuela #PDVSA #crypto2023 #BTC #azcoinnews

This article was republished from azcoinnews.com

A well-known commodity trader believes that Bitcoin (BTC) is set to hit new highs in August 2025.
Peter Brandt, a famous commodity trader, recently announced that he has identified a short-term buying signal for Bitcoin.

Peter Brandt’s Bitcoin Buy Signal Amidst Largest Correction
Peter Brandt, a well-known commodity trader, recently pointed out a short-term buy signal for Bitcoin, which he refers to as a “foot shot” (Friday) pattern on his X social media account.

Source: X
Brandt also highlighted that the current market correction is the largest seen during the ongoing bullish cycle that began in December 2022.
Last Friday, Bitcoin’s price dropped to as low as $53,917, driven by the combined effects of substantial Mt. Gox repayments and significant government liquidations. This drop represents a 27% correction, notably larger than the 21.9% correction Bitcoin experienced in Q3 2023, when it fell from a local peak of $31,862 to $24,900.
Bitcoin’s Price Predictions: Brandt’s Long-Term Outlook
Adam Back, co-founder of Blockstream, recently downplayed the significance of Bitcoin’s recent price dip by comparing it to past bull cycles, which also experienced significant corrections.
Peter Brandt has previously predicted that Bitcoin could potentially reach as high as $150,000 during this bull cycle. This target aligns with forecasts from Fundstrat’s Tom Lee. However, Brandt believes that such a high price is more likely to be achieved by August 2025 rather than this year.

Currently, Bitcoin is trading at $57,478, with bulls having reclaimed some of the lost ground. Brandt’s outlook is based on historical patterns, suggesting that the market may peak in ugust 2025.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#SAB121 #PolyMarket #MtGox #Venezuela #CraigWright $BTC $ETH $SOL