"Since the government launched its first cryptocurrency, the Petro, there's been an increased amount of interest in Venezuelan society as to cryptocurrencies' use and the way that they can be used by general, average citizens to generate income. So your average young Venezuelan is now really interested in bitcoins and a whole range of other cryptocurrencies, partly because they allow them to trade on the international scene," Paul Dobson, a journalist for Venezuela Analysis who is based in Merida, Venezuela, told Radio Sputnik's Loud & Clear.

"There are indicators that show that Venezuela is successfully moving away from an oil-dependent economy," he added, citing a report from New York brokerage firm Torino Capital in September that said Venezuela's non-oil exports are at an all-time high.