News Direct's video: Venezuela to make its economy 100 digital no notes

For story suggestions or custom animation requests, contact tips@nextanimation.com.tw. Visit http://archive.nextanimationstudio.com to view News Direct's complete archive of 3D news animations. RESTRICTIONS: Broadcast: NO USE JAPAN, NO USE TAIWAN Digital: NO USE JAPAN, NO USE TAIWAN Venezuela's government says it's planning to move to a fully digital economy, as hyperinflation has made its worthless bolivar notes practically disappear. RUNDOWN SHOWS: 1. Venezuelan man buying bottle of water in shop, clerk demands card only, no cash 2. Same buyer offers a US dollar, clerk looks around to check coast is clear, takes note 3. Clerk gives a stack of bolivar notes as change, buyer can't carry it all, leaves it behind 4. Woman buys bread, charged Bs 400,000, buyer hands over stack of bolivar notes 5. Same sequence, next day, price now double, buyer hands over double stack of notes 6. Next day, price rose sharply again, buyer shakes head, uses card to buy VOICEOVER (in English): Bloomberg reports that Venezuela's government says it's planning to move to a fully digital economy, as hyperinflation has made its worthless bolivar notes practically disappear. It says the move is also aimed at halting the "dollarization" of Venezuela's financial system. President Maduro said 18.6% of all commercial transactions are in dollars, while 77.3% are carried out in bolivars with debit cards. Only 3.4% are paid with bolivar notes. Maduro said: "They have a war against our physical currency. We are moving this year to a more profound digital economy." He said the goal is an economy that's 100% digital, adding that physical money will eventually disappear. Venezuela's currency has lost 99% of its value during three years of hyperinflation, forcing the country to issue higher-denomination notes that in turn become useless in record time. The largest note now in circulation, 50,000 bolivars, is worth only about four US cents. Cash is currently only used to ride public transportation, and the Caracas subway routinely stops charging passengers due to cash shortages. SOURCES: Bloomberg, News24, Malaysia Sun, MSN.com https://www.bloomberg.com/news/articles/2021-01-02/venezuela-s-maduro-plans-shift-to-a-fully-digitalized-economy https://www.news24.com/fin24/Economy/venezuelas-maduro-plans-shift-to-a-fully-digitalised-economy-20210102 https://www.malaysiasun.com/news/267424868/venezuelas-maduro-plans-shift-to-a-fully-digitalised-economy https://www.msn.com/en-us/money/markets/venezuelas-maduro-plans-shift-to-a-fully-digitalized-economy/ar-BB1cpVLa *** ----------------------------------------­­---------------------------------------­-­---------------- Next Animation Studio’s News Direct service provides daily, high-quality, informative 3D news animations that fill in for missing footage and help viewers understand breaking news stories or in-depth features on science, technology, and health. Sign up for a free trial of News Direct's news animations at http://newsdirect.nextanimationstudio.com/trial/ To subscribe to News Direct or for more info, please visit: http://newsdirect.nextanimationstudio.com