If you ask me what other countries in South America I would like to see embracing crypto, I would say quickly Panama. I know they had a good relationship with the US. A lot of Americans move there and I know quite a few folks in the Hive blockchain live there. It is a country with the Canal connecting the Atlantic ocean to the Pacific Ocean.
This country has had a stable progress economically. It has to due with the canal and the way folks live there. Since EL Salvador leads the way with legalizing #BTC, Two front runners see the need to push crypto in Panama. A legislator and an entrepreneur is making the effort to bring the country to par with crypto.
Generally the effort to get it done always meet with the pressure from the outside. When you bring BTC to the equation, you will need less of the international Bank for help. I can understand why they give EL Salvador so much problem that way. Sometimes you ask why it is a problem in the first place for a country to think outside the box?
Panama looks like a place where futuristic implementation of financial system is needed. Regulations are on par with other Asians countries as well. Americans looking for a nice place to live, will approach crypto with open arms. I think folks looking for a place with great warm weather will look at Panama as the paradise of the Americas. I do not think having crypto in Panama as a legal tender if proceed will help EL Salvador and other countries to see why crypto will feel the void of the dollar losing value everyday.
It will become interesting to see the whole South America block embracing crypto as a whole. Giving power to the people. Making sure every citizen understands the power of owning a finite piece of asset that will increase in value with time. I have to say the small countries will approach first this agenda. Venezuela is the problem child. Hope crypto can help them move along quite well. They have to fix their problem and play accordingly.
Crypto alone cannot resolve al problem. Crypto empowers each and everyone to see how one should use asset and stay within your means. Crypto bring the power of ownership and be responsible while owning a piece. Crypto takes away control from one party and share it with everyone. Crypto is the epicenter of decentralization. Crypto minimize corruption. Crypto from what I see push away the need for confrontation.
Just looking through all these, crypto will be regulated heavily. A country with crypto will ease the pain for many through the Financial nightmare that is going through. As inflation is taking over what is less, crypto is the balance check to keep everything level. What about #Gold? Most countries owns gold and still problem arises and inflation is still around. Crypto or gold will not curb inflation, it will only enlighten the ones that jump first into the crypto bandwagon.
Best case scenario, stay alert and grab the best of both world.
Posted Using LeoFinance Beta