Pablo Gonzalez on Why Bitcoin Makes Sense for Mexico

By January 27, 2016Bitcoin Business

Although bitcoin is often touted as a global currency, the reality is that some countries may find it more useful than others. While moving toward more generalized blockchain technology is the trend in the developed world, there are still plenty of people in certain parts of the world who don’t have much interest in permissioned ledgers .

Bitso CEO Pablo Gonzalez was recently interviewed on Trace Mayer ’s Bitcoin Knowledge Podcast , and one of the main topics of conversation was why Gonzalez decided to build a Bitcoin exchange in Mexico. Mayer clearly understands Bitcoin’s potential in Latin America , as he noted the following near the beginning of the interview:

“ BitPay ’s transaction volumes are growing everywhere. They’re growing in North America; they’re growing in Europe; they’re growing in Asia; but far and away, Latin America is where the big growth is coming with BitPay.”

During their conversation, Gonzalez was able to explain why this phenomenon exists, at least from a Mexican perspective.

Latin America Is Waking Up to Bitcoin

Before getting into the specifics of why Bitcoin makes sense for Mexico, Gonzalez briefly touched on Latin America as a whole. At first, he talked about the general lack of Bitcoin adoption in the region, with the notable exception of Argentina:

“Other than Argentina, where there’s a vibrant community and there’s been a vibrant community for a few years, in Latin America the community was very small. At the beginning, the volumes were small and the growth was slow. For the past year, Latin America has been waking up to this technology.”

Although the developed world is used to having relatively stable currencies and mature financial systems, that is not the case in much of Latin America.“There are so many holes to fix with this technology, and that’s driving a lot […]

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