28 Aug '14, 3pm

Which Nation Will Lead South America’s Bitcoin Revolution?

Which Nation Will Lead South America’s Bitcoin Revolution?

Many bitcoin proponents share the belief that digital currency and its underlying technology can radically transform how the world transacts. They believe the technology can remove the restrictions that have long prohibited economic development in emerging markets: high remittance costs, volatile government-issued currencies and capital controls. One area that has been of particular interest to the community is South America, where supporters say bitcoin can offer real utility to consumers and business owners . Both groups have long sought alternatives to local fiat currencies and better ways to spend money online, given the region’s relative lack of bank card penetration . However, despite the community’s hopes that digital currency will thrive in South America , real challenges to bitcoin’s long-term success in the region remain. Furthermore, unlike the US on the global ...

Full article: http://www.coindesk.com/nation-will-lead-south-americas-b...

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