Hey there my Steemit Friends. I have more great photos showing you what real life in Guayaquil Ecuador is like. There is always a lot of hustle and bustle in a city like this. People trying to make a buck anyway they can. Literally they are trying to make a buck, as Ecuador is one of several countries around the world that has adopted the US dollar as their currency.
Back in the late 90s the Ecuadorian Sucre went the way the Venezuelan Bolivar is currently going. It basically became worthless overnight due to hyperinflation. I don't know the technicalities behind it but I do know there was a lot of corruption involved and it was a full blown disaster.
Millions of Ecuadorians lost their life savings. The ones who owned gold, jewelry, real estate, farm land, cars, and material items of value; they all maintained most of their wealth and some even profited. To this day the Ecuadorians still don't have much trust in paper money. They have a culture to spend and hoard their wealth in cars and property.
Maybe keeping one's wealth in material things is not such a bad idea as many paper currencies including the dollar are overloaded with debt and various forms of IOUs. Believe it or not, the Ecuadorian government with it's strong human rights and progressive style government is one of the few countries that has out right banned crypto currencies even blocking websites like bitpay.
Many of the hardworking Ecuadorians you see in these photos are just living hand to mouth anyway, but it would be nice to see Ecuador and Latin America in general get more involved and prosper from the crypto craze!
I do know that Venezuela in the midst of their economic crisis just came out with their own crypto currency, The Petro! It is backed with their huge reserves of oil, gold, and diamonds which I think is brilliant. Enough about that, let's have a look at what is doin' on the streets of Guayaquil Ecuador!
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With over 11 years of travel experience I answer travel and international lifestyle questions. Leave a question in the comments and I may make a Steemit post just for you!
