Blockchain Trials Accelerate as South America Sees Ethereum Uptake

By August 12, 2016Bitcoin Business

Argentinian wine and Brazilian timber are just the latest products being transformed by entrepreneurs building distributed applications on the ethereum blockchain in South America. One of Brazil’s largest banks recently built a smart contract designed to automate parts of the process by which a company goes public; a group in Chile is working to help scale the blockchain using the Inter-Planetary File System (IPFS); and a team in Nicaragua is building a secure identity system using Ricardian contracts. Other than ethereum , what all these projects have in common is a company in Brooklyn, New York, with a rapidly growing presence across industries and around the world. Of about 100 employees scattered across five continents, three have taken a leadership position to run these diverse projects that push the limits of how a blockchain can be used. One of those men was hired by ConsenSys in early 2015 after spending more than 10 years building financial markets software in his native Brazil and in New York City. ConsenSys blockchain specialist Daniel Novy tells CoinDesk he’s been surprised by how quickly his country has adopted a diverse set of ethereum applications. Having founded Brazilian bitcoin exchange Basebit in 2013, Novy saw firsthand how in those early days bitcoin’s reputation for being associated with illicit transactions made it difficult to sell the technology to banks. But he added that the stigma doesn’t exist with ethereum, which is making his job of approaching companies to "sprinkle a little blockchain on them" much easier. Novy told CoinDesk: "It seems all the companies I’m dealing with are searching blockchain. But in the end, they all come to ethereum because of the smart contracts. Many of them, especially the banks have researched bitcoin but they almost always, I think always, choose ethereum." A São Paulo […]

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