"Inflation in India and Venezuela create opportunity
Likewise, India’s remittance culture makes it a logical candidate for widespread adoption of Bitcoin. BBC News reports that India topped the global list for remittance money destinations in 2012 with over US$70 billion entering the country from workers abroad.
And while mobile payment networks are not a specifically common feature of the Indian economic landscape, the recent weakening of the rupee will be causing many mid-range consumers to be seeking an alternative to money transfer companies in order to limit losses.
The rupee’s inflation rate is nothing to that of Venezuelan bolivar, however, which for 2013 was over 50% and created an urgent need for consumers to seek alternatives. The Venezuelan government even launched its own digital currency in 2010; intended for international trading with the country’s neighbours as an alternative to US dollar, the sucre was modestly successful with Ecuador exporting $737 million of goods to Venezuela in the first three quarters of last year...."
Bitcoin has a huge advantage:
The competition is paper money.Cointelegraph always has nice, unique illustrations which is a good way to build the brand.
