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Crypto gets actual real (non-trading/non-gambling) usage in parts of LatAm. This blog post[1] from Vitalik explains a little: > Unlike wealthy countries like
by dbmikus 3y ago
Crypto gets actual real (non-trading/non-gambling) usage in parts of LatAm.
This blog post[1] from Vitalik explains a little:
> Unlike wealthy countries like the United States, where financial transactions are easy to make and 8% inflation is considered extreme, in Argentina and many other countries around the world, links to global financial systems are more limited and extreme inflation is a reality every day. Cryptocurrency often steps in as a lifeline
Some of the users are on battle tested decentralized solutions like Ethereum and its rollups. Others transact through centralized exchanges because fees are cheaper. And others use more centralized blockchain networks such as Tron to avoid high fees. On one hand, using central exchanges doesn't match up to the decentralized promise of the blockchain. On the other hand, it's cool to see people using crypto without caring that it's crypto. They just want to have access to more stable currencies for payments and transactions!
I've seen this myself, from talking to LatAm businesses and from a friend in Argentina.
[1]: https://vitalik.ca/general/2022/12/05/excited.html https://vitalik.ca/general/2022/12/05/excited.html