Financial Education - New financial instruments and implementation of administrative control schemes

The national economy during the last 20 years has suffered constant instability, wear and tear and various problems, generating multiple consequences to both companies and society in general, the emergence of new financial instruments such as cryptocurrencies demands the implementation of administrative control schemes.

In view of this, Venezuelans have found it necessary to adopt various alternatives that allow them to remain active in a hyperinflationary economy, giving rise to the diversification of the currency in an unofficial manner.

There is income from sales in foreign currencies such as the dollar, peso, euros, sovereign cryptoassets and cryptocurrencies such as Zelle, Paypal, Bitcoin, with the firm purpose of avoiding decapitalization and the negative effects of the constant devaluation of the currency.

In addition, financial instability, informal dollarization and the devaluation of the national currency, bring with them several consequences that alter the financial and accounting management in organizations, generating greater vulnerability, risk and uncertainty, being indispensable a risk analysis that allows to know critical aspects to be addressed.

Likewise, companies in Venezuela require the greatest attention and care aimed at minimizing risks, especially because it is a very sensitive and vulnerable area that contributes to agri-food sovereignty, where income is received in different currencies and forms of payment.