{"id":13421,"date":"2018-09-09T00:00:00","date_gmt":"2018-09-08T16:00:00","guid":{"rendered":"https:\/\/www2019.dash.org\/2018\/09\/09\/the-latin-american-crypto-boom-is-underway\/"},"modified":"2021-09-18T11:36:42","modified_gmt":"2021-09-18T11:36:42","slug":"cryptoboom","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/cryptoboom\/","title":{"rendered":"The Latin American Crypto Boom Is Underway"},"content":{"rendered":"

The case for crypto is growing in Latin America, and not just because of hyperinflation in Argentina and Venezuela. From bringing financial services to the bankless to funding for startups which has been notoriously difficult to obtain in the past, there\u2019s a quiet transformation under way and its being fueled by crypto.<\/p>\n

Crypto startups in Latin America<\/strong><\/h3>\n

The old Silicon Valley venture capital model of securing funds simply doesn\u2019t work down here.\u00a0<\/strong>While there are hubs in places like Guadalajara, Buenos Aires or Mexico City where tech startups may experience a significant advantage over their peers, generally speaking, Latin America is a tough place to get capital.<\/p>\n

Not only is income in the region much lower than the U.S. or Europe, it\u2019s significantly more spread out. And the region\u2019s governments aren\u2019t exactly rushing to lend a helping hand either. This has created a pool of talented and ambitious individuals with big ideas and no way to get them off the ground.<\/p>\n

To make matters more difficult for would-be entrepreneurs, stock exchanges in the region are difficult to enter and extremely illiquid.<\/strong>\u00a0To put it into perspective, the total market cap to GDP ratio of the region\u2019s largest stock exchange, the Ibovespa Brasil Sao Paulo Stock Exchange, currently sits at\u00a046 percent<\/a>\u00a0while the amount traded vs. GDP in the U.S. weighs in at\u00a0146 percent<\/a>.<\/p>\n

With a lack of VC funding, little stock market action and no government support,\u00a0companies are beginning to\u00a0turn to crypto<\/a>\u00a0to carve out their piece of the pie.<\/strong><\/p>\n

Rootstock<\/a>\u00a0may be one of the most promising and exciting crypto projects not just in Latin America but in the entire world. Though it has received backing from some of the biggest names in the crypto space, it\u2019s rarely mentioned when discussing the future of bitcoin. But it should be.<\/p>\n

As the first smart contract platform with a 2-way peg to Bitcoin, Rootstock aims to build upon the Bitcoin ecosystem, not only adding greater functionality to the network, but adding value by extension.<\/strong><\/p>\n

Another major player in Latin America\u2019s crypto startup scene,\u00a0Ripio<\/a>, formally Bitpagos, Argentina\u2019s biggest exchange, has leveraged its success to launch an ICO in order to build a\u00a0peer-to-peer credit network<\/a>, and it\u2019s already secured a\u00a0partnership<\/a>\u00a0with one of the biggest credit card issuers in the region, Naranja. The project will allow users to lend or borrow funds utilizing smart contracts and will even insure lenders if the case of a default.<\/p>\n

Like Ripio,\u00a0Bitso<\/a>, Latin America\u2019s largest exchange, is also looking to shake up the world of finance.\u00a0<\/strong>Through the Bitso network, users are already able to send and receive fiat transactions instantly to anyone using the platform, but that\u2019s just the beginning. Bitso is also looking transform the way Mexicans pay their bills, buy their groceries, and even purchase a cup of coffee, though the details of this merchant friendly platform have not yet been revealed.<\/p>\n

Adoption gains speed<\/strong><\/h3>\n

With the new wave of startups leading the way,\u2026\u2026\u2026\u2026\u2026..><\/p>\n

Please Read Full Article at:<\/p>\n","protected":false},"excerpt":{"rendered":"

The case for crypto is growing in Latin America, and not just because of hyperinflation in Argentina and Venezuela. From bringing financial services to the bankless to funding for startups which has been notoriously difficult to obtain in the past, there\u2019s a quiet transformation under way and its being fueled by crypto.<\/p>\r\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[216],"tags":[],"acf":[],"yoast_head":"\nThe Latin American Crypto Boom Is Underway - Dash<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dash.org\/news\/cryptoboom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Latin American Crypto Boom Is Underway - Dash\" \/>\n<meta property=\"og:description\" content=\"The case for crypto is growing in Latin America, and not just because of hyperinflation in Argentina and Venezuela. 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