By: Steve Dellar | 09-04-2018 | Brazil
Photo credit: Crypto Briefing

Brazil - Could Crypto Provide A Solution To Future Financial Instability?

South America is going through a currency crisis. Whereas Venezuelan inflation could reach 1 million this year because of economic mismanagement and corruption, over in Argentina the currency has slid 50% versus the dollar and inflation is skyrocketing.

That leaves you with Brazil who has also seen their currency weaken against the dollar as investors worry about an insecure election result (although Mr. Jair Bolsonaro is expected to make it into the second round, it is unsure who he will face) and the economic growth grinds to a halt.

Related coverage: <a href=""> Argentina - President Macri Declares ‘Emergency’ As Panic Sets In</a>.

This all means that Brazilians, the largest population of any nation in South America, are worried about their savings and many youngsters are, just like Asians have done in the past year, turning to cryptocurrencies.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Brazil to Receive 1,000 Multi-Crypto Point of Sales Terminals - <a href=""></a> <a href=";ref_src=twsrc%5Etfw">#bitcoin</a> <a href=";ref_src=twsrc%5Etfw">#blockchain</a></p>&mdash; (@BitcoinNewsCom) <a href="">September 4, 2018</a></blockquote>

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And now, grocery shoppers in Brazil and Colombia believing that rampant Venezuelan or Argentinean inflation is headed their way may soon be able to pay for their groceries in cryptocurrency thanks to BitCapital which revealed plans to introduce point-of-sale devices to Brazilian and Colombian grocery stores.

The announcement stated that no less than 1,000 point of sales devices would be brought to the largest South American market, even though it remains unclear which of the major Brazilian grocery chains will allow them.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Brazil&#39;s Economy Nearly Recessionary As Growth Sours <a href=""></a> <a href=""></a></p>&mdash; Crypto Kamasutra (@tabacoff1) <a href="">September 3, 2018</a></blockquote>

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Mr. Zac Cheah, CEO and Co-founder of Pundi X: “In a region fast gaining a reputation as a center for cryptocurrency to enter, the Brazilian market is an ideal point of entry and the demand from merchants has validated our expansion strategy into South America.”

“BitCapital is the ideal partner for our debut in Brazil. Not content to be an OTC leader in a market of global significance they are looking to take on banks and deliver a new payments solution.”

Meanwhile, we here at remain some of the biggest fans of Susucoin, the crypto in favor of absolute free speech launched recently in Japan.

Related coverage: <a href="">New cryptocurrency Susucoin seeks to archive free speech forever</a>.

You can discover it at:

“The cryptocurrency supporting the world's largest anonymous free speech platforms.

Susucoin is a proof-of-work cryptocurrency designed with added transactional storage capacity for the purpose of archiving free speech.”

<blockquote class="twitter-tweet" data-lang="en"><p lang="ja" dir="ltr">[2018年8月限定キャンペーン] 終わりました!ありがとうございます!次のキャンペーンはすぐになります!<br>[August limited campaign] The August campaign is now finished! The next campaign will be soon.</p>&mdash; Susucoin (@susucoin) <a href="">September 3, 2018</a></blockquote>

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“With its own genesis block, susucoin is an independent blockchain built on wallet software forked from the litecoin project.”


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