Bitcoin Forum

Hello all,

Recently Venezuela has launched the Petro, a sovereign crypto backed by the country’s oil. Previously, Mexico approved sweeping blockchain and crypto framework which will see the promulgation of industry wide regulation. Also, the marshal island is issuing its own sovereign crypto coin.

Does this mean that countries in the developing world are beginning to take blockchain and cryptocurrencies serious technology of the future?

Not only countries like those need to take crypto seriously we are seeing this all over the world and it is not surprising, the market growth in the last year left everyone surprised if we were astonished by it what do you think all of those that thought bitcoin was dead thought? Now they are realizing they cannot ignore bitcoin any longer and that is why we are seeing all of these new developments.

That is a good sign of the crypto market. The crypto market is growing widely and popular to many countries. This will make the crypto market grow stronger and bring more profit to the participants at the present time. In the future, the price of the altcoins will increase many times compared to the current time. I am very happy to hear this news.

countries in the developing world are often faced with serious economic deficits and constantly having to seek economic funding from multi laterals such as the IMF.bitcoins provide a unique and rare opportunity for these "struggling " economies to reel in some much needed funding that will at least allow some of these countries to meet the debt obligations.

Digital money and blockchain technology are already affecting every corner of the world, and they are still evolving.

Whether developing countries or developed countries use this technology, it can gain huge economic advantages!

there are a lot of development in a lot of different countries, and surprisingly enough most of them are the developing countries while the developed countries are still struggling to find a way to tax bitcoin more and in an easier way!
so i think OP is on to something here. a lot of these countries like Venezuela,... can potentially become big in blockchain technology and by extension bitcoin will flourish in these countries as the original and the decentralized version of it all.

Maybe but the technical basement at South America doesn't look too good for the developing of digital currency but it's still okay.

No.
It means just some 3rd world countries that don't even have toilet paper are trying to find a magic unicorn to present it to their starving population.

Who gives a damn about Venezuela?
Coin backed by oil? Isn't their entire currency backed by oil and it's still worthless?

Marshal Islands?
First they are not located in South America! (neither is Mexico!!).
Secondary, their entire country has a population of 50k. There are more fast food workers in NY than poeple on that island.


Yeah, let's compare a bit what you think with the reality   ;D
Developed countries...Japan, Us, Canada, South Korea, the EU.
Developing countries...India, Pakistan, Indonesia, Vietnam, ... whatever.

Which of those have more business related to crypto, more merchants accepting crypto?
Has any developed country banned crypto?

Besides that,
No it won't.
Venezuela wants a centralized crypto, they are no remotely interested in bitcoin.