Government Attitudes in Latin America

[cryptohashbrown]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

[Mandoy]

I checked the link and I cannot find the statement that the government takes a hostile attitude towards issuance of money. But the article mentioned about the debate on cryptocurrency and blockchain. It was mentioned that blockchain was more than just bitcoin uses. Also it was mentioned the possibility of creating a state-sponsored cryptocurrency and creating some policies to regulate cryptocurrency. In my opinion there are diverse idea in Latin America but at least there is a good chance that cryptocurrency may be adopted in that area.

[CryptoBry]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

As what I understand, decentralization has become a buzzword for many and tied to this is the use of the blockchain technology. I am sure that there is an increasing interest with the blockchain that even governments who are uneasy with Bitcoin are getting into the frenzy. Now, certainly, decentralization and blockchain will not save us from the host of problems we are into but certainly they can contribute a lot. The blockchain technology holds a lot of potential in innovating many industries and even governments themselves can derive some benefits from.

I checked the link and I cannot find the statement that the government takes a hostile attitude towards issuance of money. But the article mentioned about the debate on cryptocurrency and blockchain. It was mentioned that blockchain was more than just bitcoin uses. Also it was mentioned the possibility of creating a state-sponsored cryptocurrency and creating some policies to regulate cryptocurrency. In my opinion there are diverse idea in Latin America but at least there is a good chance that cryptocurrency may be adopted in that area.

I am sure it is an assumption that many governments will certainly not look at Bitcoin or cryptocurrency with kind eyes as these are supposedly big disruptor mainly with money, banking and finance and they can be afraid that their economy can be affected. Latin American countries for sure can be a huge market for cryptocurrency and we are already seeing some good developments on this respect so much so that state-issued cryptocurrencies can be a trend to watch on this region.

[Pearls Before Swine]

I think most gov'ts have an issue with individuals or corporations issuing their own money, and I'm sure my country has laws against it which is why they're attacking Libra.  This isn't anything new, either.  There have been laws on the books for many years now.  States in the U.S. used to mint their own currency until the federal gov't put a stop to it and passed laws making it illegal.

Don't know about other countries in S. America but Venezuela at least needs an alternative to the bolivar right now.  Foreign currency might do the trick in the short term, but this is a great opportunity for long term crypto adoption if only businesses would accept it as payment.  That's out of our control unfortunately.

I checked the link and I cannot find the statement that the government takes a hostile attitude towards issuance of money.

Nevertheless, believe me they're hostile towards it.  All gov'ts are even if they've not yet passed laws restricting cryptocurrency.

[Kyraishi]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

I don't think their views are the same your imaging they are, they don't have the views that are basically let anything blockchain go. It's fairly apparent that they don't really support the views of other stablecoins like Libra.

Look at Venezuela as an example. They are definitely not going to let their people always use Bitcoin and other crypto-currencies as a solution for their economy problems. It's more a bandaid fix.

The world's going to come to a state where the big players will own their own stablecoins. I've always had a vision of all the countries working together and making a stablecoin for all the countries in the world but I guess that'll never happen.

[th3nolo]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

Some governments or just Bolivia and Ecuador?

in fact in the article, they mentioned that some governments are willing to use cryptocurrencies if they provide a superior service to the current banking system.

I don't see anything negative in the article.

[Wintersoldier]

With the term:

It was mentioned that blockchain was more than just bitcoin uses.

I highly disagree if it means that blockchain would be a backbone to an entity other than cryptocurrency because once and for all, it was meant to boost the characteristics that a currency should have, and blockchain does that. Another, is the reputation of cryptocurrency and blockchain. Meaning to say that, blockchain by other means is considerably, blockchain abuse.

 

[CryptoBry]

With the term:

It was mentioned that blockchain was more than just bitcoin uses.

I highly disagree if it means that blockchain would be a backbone to an entity other than cryptocurrency because once and for all, it was meant to boost the characteristics that a currency should have, and blockchain does that. Another, is the reputation of cryptocurrency and blockchain. Meaning to say that, blockchain by other means is considerably, blockchain abuse.

 

The blockchain technology  can exist without cryptocurrency but cryptocurrency (in its original meaning and structure) may not be functioning without the blockchain. This means that one can use the blockchain technology since it is available to all, modify it to suit one's needs and goals and not necessarily establishing the cryptocurrency part. In fact, many countries and companies are already experiencing with this and many projects are in the implementing phases. In China, though the government is not into Bitcoin, they pour a lot of resources for research and manpower towards using the blockchain technology for different areas and concerns.

No wonder some governments like those in Latin America who understand the impact blockchain may have on their own countries are now looking at how to get the benefits but without the need to also launch their own cryptocurrency. And this is in fact the reason why Satoshi Nakamoto made this technology open to all regardless of race and economic status. Of course, there are still those who don't fully get it and still harboring many misconceptions on the blockchain and cryptocurrency and actually we could not fault them because there is no centralized organization with Bitcoin that has the money to spend on educating people and let them understand the positive implications of this technology.

[Darker45]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

While reading the article and stumbling upon the line

...Latin America is “the world region where most cryptocurrency users are located,”...

I got curious as to the reliability of this finding, its statistics, and how they come up with those. When I checked the Statista report, which was the source of the said statistics, I got this graph^[1]:



They must have their methodologies and methods and all. They must have a random sampling and I hope it was scattered as it should be. But, without any prejudice, the result was kind of surprising to me. The second spot, for example, where cryptocurrencies are most common, goes to Colombia, together with Brazil. I haven't heard much of cryptocurrencies being very widespread in Colombia. I think I must have missed a lot of news.

[1] https://www.statista.com/chart/18345/crypto-currency-adoption/

[Artemis3]

While reading the article and stumbling upon the line

...Latin America is “the world region where most cryptocurrency users are located,”...

They must have their methodologies and methods and all. They must have a random sampling and I hope it was scattered as it should be. But, without any prejudice, the result was kind of surprising to me. The second spot, for example, where cryptocurrencies are most common, goes to Colombia, together with Brazil. I haven't heard much of cryptocurrencies being very widespread in Colombia. I think I must have missed a lot of news.

[1] https://www.statista.com/chart/18345/crypto-currency-adoption/

Don't you find it funny they say Japan is at the bottom? You know, home of defunct Mt.Gox, first country to legalize Bitcoin, etc, etc...

[Herbert2020]

While reading the article and stumbling upon the line

...Latin America is “the world region where most cryptocurrency users are located,”...

They must have their methodologies and methods and all. They must have a random sampling and I hope it was scattered as it should be. But, without any prejudice, the result was kind of surprising to me. The second spot, for example, where cryptocurrencies are most common, goes to Colombia, together with Brazil. I haven't heard much of cryptocurrencies being very widespread in Colombia. I think I must have missed a lot of news.

[1] https://www.statista.com/chart/18345/crypto-currency-adoption/

Don't you find it funny they say Japan is at the bottom? You know, home of defunct Mt.Gox, first country to legalize Bitcoin, etc, etc...

that is the problems with statistics that are based on surveys! they always mess things up in their participant selections and end up with false results which is why these types of statistics are never reliable to begin with. in fact there is a ton of research gone into the "selection" process where you find groups of people to answer your questions. in simple terms if you go to bitcointalk and ask people how many of them used bitcoin and then go to blablahtalk and ask them the same thing you can't compare the results!

[Markettrust]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

You did not post anything than just an advertisement for dows to invest in membership.Anyone invest in this scam will lost money

[th3nolo]

Snip

It's a very embarrassing sight to see that Venezuela is missing on the list, I am from Venezuela and lately, some cryptocurrencies payment processing companies have been booming here

Proofs:
Physical points of sale of cryptocurrencies are coming to Venezuela
Venezuelan pharmacies install bitcoin point of sales
Venezuela: First crypto ATM installed in Caracas
Venezuela: Panda Exchange installs first cryptocurrency ATM in San Antonio del Táchira

[dothebeats]

Ignoring the incorrect statistics and information embedded within that article, not to generalize but the majority of countries (governments) in Latin America is dictated by drug money and are inflicted with extreme bouts of corruption and inflation. With these key ingredients, it's evident that the governments want control and that the flow of money only be restricted within their borders and not go somewhere else, hence the hostile attitude of some of the authorities toward bitcoin as it defeats what they wanted to do. Nevertheless, bitcoin will still flourish, just look at Turkey and Venezuela for example.

[Yaunfitda]

Snip

It's a very embarrassing sight to see that Venezuela is missing on the list, I am from Venezuela and lately, some cryptocurrencies payment processing companies have been booming here

Proofs:
Physical points of sale of cryptocurrencies are coming to Venezuela
Venezuelan pharmacies install bitcoin point of sales
Venezuela: First crypto ATM installed in Caracas
Venezuela: Panda Exchange installs first cryptocurrency ATM in San Antonio del Táchira

I know, and every week Venezuela is posting record high as far as bitcoin transactions goes. So the reports is quite surprising to say the least, as we haven't heard Latin American countries go full crazy on crypto including government.

So this might be another click bait article to be honest, and it's medium article so what do we expect? I'm not saying that the reports are false or something, but base on the sentiments of this community, this is far fetch from the reality.

[cotton ball]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money. This article touches on some of it https://medium.com/altcoin-magazine/dows-panel-explores-different-perspectives-on-blockchain-and-cryptocurrencies-5475ce187312

Latin amercian government look not happy with cryptocurrency become legal transction, they always want to fight bitcoin and altcoin be banned in every country in the world, so far american latin government have serious with bitcoin is Brazil, they look want to adopt bitcoin as transaction payment and give space for bitcoin become legal transaction at the future.

[Murat]

I don't even find anything within the link anything negative attitude of any government regarding blockchain or cryptocurrency, whatever, I know it's not the time to find other attitudes on the context of cryptocurrency and blockchain system, I think this is high time for a blockchain system to get more attention to the whole world and need some proper step to regulate cryptocurrency platform in order to provide a good service to the new investors, a country never allow your platform until there is an appropriate regulatory system and there is a chance to get hampered your investment, so the system should be fixed and accountable to the related people, if it can happen then no government will show any negative attitude after that.

[Artemis3]

It's a very embarrassing sight to see that Venezuela is missing on the list, I am from Venezuela and lately, some cryptocurrencies payment processing companies have been booming here

Booming? Traki and some obscure travel agency in the border doesn't count as "booming", we all depend on Localbitcoins and you know it. Don't type nonsense. And the Dash people only wasted their time, nobody uses it. What i DO see everyday, is American USD banknotes changing hands, and several shops in big malls etc listing prices in USD, not Bitcoin.

[bounceback]

in the future there may be only a few countries that will approve cryptocurrency and bitcoin in their countries to facilitate traders and also people who trade outside the city, but there are also other countries that are still hesitant to consider bitcoin in their countries such as Latin America their government has not been able to declare to formalize bitcoin in their country because they might be afraid that cryptocurrency and bitcoin will become obstacles to the economy.

[Velkro]

Latin America seems like ground zero for adoption but some governments are starting to take a hostile attitude towards private issuance of money.

Every goverment have issues with private issuance of money because its goverment power.
It does change for crypto tho, because it cant be shut down they must deal with it.