Latin America is a privileged area in the world, it has great natural wealth and great biodiversity. However, this wealth has not been well managed and to some extent has made local and foreign elites see Latin America as a zone of resource extraction only.
However, Latin America is an area that also thrives despite its social problems. Today many countries have relevant economies that rub shoulders with the great world economies.
In this context, Latin America is a particularly interesting area for the development of cryptocurrencies and in fact this could be the turning point that turns things in the opposite direction.
Here I will expose some basic and general points of the area and that could turn Latin America into an area of great economic development thanks to crypto assets:
Little prepared legislation.
What at first may seem negative could turn into something positive and is that sometimes what is the cause of misfortune can be the cause of salvation, this being true for individuals and groups.
With less interference from governments and regulators, cryptocurrencies can be true tools of empowerment and decentralized finance.
Little vision of more developed countries.
It may be that by maintaining the status quo, the elites of stronger countries do not want the empowerment of their citizens, leaving them at a disadvantage compared to their Latin American peers.
Entrepreneurial people and demographic bonus.
People in Latin America are entrepreneurs and lately entrepreneurs are seen with better eyes. People want to keep up with other parts of the world and with a large base of young people who learn technology faster, the conditions may be ripe for great disruption.
These are some of the points in favor, Latin America cannot continue to be only a producer of raw materials or now it has its own industrial revolution in front, only that it is a technological and financial revolution.
Are you going to make it?
I think that to a large extent yes, for now three countries in the region are among the countries that are most involved in cryptocurrencies.
Only time will tell, for the moment it is a unique opportunity that combined with other factors could balance things in the world and bring more sustainable development to the region.
The tempo and the Latin Americans will have the answer.