Financial Education - Emergence of digital currencies and stability of organizations

The business sector faces severe problems that have repercussions on the production and stability of the organizations, being indispensable the analysis of risks in an exhaustive manner to be used as a tool to face diverse problems caused by hyperinflation.

This has generated numerous expropriations, attacks on private property and the establishment of controls that could hardly allow the business activity to be carried out successfully.

Then, with the new monetary reconversion, the emergence in Venezuela of the digital Bolivar and the implementation of accounting in Bolivars and Petros generate greater risk in companies, especially due to the constant devaluation of the currency and the registration of sales, which must be carried out in a very detailed manner to avoid mistakes as much as possible. In this regard.

The bolivar succumbs to dollars, petros and other forms of payment in Venezuela. The reconversions are given by the inflationary situation, said the economist, and detailed that in Venezuela the average annual inflation between the last reconversion, in August 2018 and May this year, was 62,000%. The main problem with the digital bolivar is that it is based on a currency that is getting weaker and weaker.

Consequently, the Venezuelan industry and companies engaged in the production of cheese face the risks mentioned above and various problems ranging from the deficit in the production of milk and supplies, currency devaluation, diversity of currencies as a payment system, price regulation, lack of government support and fuel shortages that affect the distribution of products.