[The dollar crisis hit us like a ton of bricks] (https://www.bbc.com/mundo/noticias-america-latina-65171402 'Noticia de aquel año'). For over a decade, we lived with a fixed exchange rate, and although transfers abroad were slow and expensive, at least they worked. But in a short time, everything collapsed. The Central Bank's reserves began to dwindle, banks ran out of dollars, and as a result, the parallel dollar market emerged and grew, going from a rumor to the real benchmark of the market.
For me, as an importer of construction machinery parts in Santa Cruz de la Sierra, this crisis wasn't just a statistic or a second-page news story: it was a direct blow to my livelihood. Construction projects don't wait. An engine, a transmission, or a hydraulic pump that doesn't arrive on time can halt or paralyze the construction of a road, building, or factory. And suddenly, the system I had always used to pay my suppliers stopped working.
Before, sending money abroad through the bank was laborious but possible: queues, endless forms, days of waiting. But in the last two years, it went from difficult to impossible. Banks started imposing ridiculous quotas, interminable waiting lists, and conditions that made me feel like I was begging for a favor just to use my own money. Worse still, when I finally managed to make a transfer, the cost was exorbitant: they applied an exchange rate much higher than the parallel market rate and, on top of that, charged me between 2% and 7% extra in fees. Every transaction was an absurd loss of money, and every delay put me in a difficult position with my suppliers in Brazil, China, or the United States.
I reached a point where I thought about throwing in the towel. I had contracts to fulfill, clients who trusted me, and suppliers who had extended me credit for years, but I was trapped in a system that wouldn't let me work. The helplessness of knowing that the problem wasn't my lack of resources or my lack of will, but rather the obstacles of the financial system itself, was a devastating blow. I felt that all my years of effort could crumble because I couldn't move the money in time.
It was at that moment, when I was on the verge of abandoning my operations, that I discovered PrismaPay, a financial services company that operates with the latest blockchain technology. At first, I was skeptical, and beyond the fact that one is already tired of promises that sound too good to be true, I had my doubts about the whole cryptocurrency thing. But I decided to give it a try, and the difference was incredible. Where I had previously encountered obstacles, I found fluidity; where there had been uncertainty, I found certainty. With PrismaPay, I can send money to my suppliers in a matter of an hour. Yes, one hour. And instead of losing up to 7% more on top of an exorbitant exchange rate, I pay clear and transparent fees of less than 3%.
Beyond the numbers, there's the relief of regaining trust. The PrismaPay team responds to me in minutes, no matter the time. I don't have to wait in lines, I don't have to fill out endless forms. I manage everything from my phone. And when I visited them at their office in Manzana 40, I received warm yet professional service in a comfortable environment.
What ultimately convinced me was that they leverage blockchain technology without any hassle for me. I've always been curious about the world of cryptocurrencies, but I don't have time to learn how to use digital wallets, much less ask my providers to do it for me. With PrismaPay, it's not necessary. PrismaPay receives my Bolivian bolivianos, converts them into USDCs (a highly secure cryptocurrency pegged to the US dollar), sends the money abroad, and, through its agreements with leading global financial technology companies, performs the off-ramp, meaning it's converted back into dollars or another fiat currency and goes directly to my supplier's bank account. For them, it's business as usual: they receive the money in their bank account, without any complications. For me, it's a secure, fast, and transparent process that allows me to fulfill my obligations without any worries.
Today I can say that PrismaPay has given me back my peace of mind. What seemed like the end of my business has become a new beginning. My suppliers receive their payments on time, my clients know they can trust my deliveries, and I can focus on growth instead of battling paperwork, quotas, and uncertainties. That's why I say it with all the conviction of someone who was on the verge of losing everything: PrismaPay has changed my life.
José Carlos M.