By David Drake
has been adopted in various ways around the globe. For example, Latin America has positioned itself as a territory with extensive interest in technology. In this region, various sectors see as having the potential to propel economic growth, transparency and financial development.
Already, is using to reduce corruption and facilitate voting while Chile is using the technology to facilitate electronic transfer of funds. But it is Argentina that is taking the lead in and utilization of in businesses as a way of cushioning inflation. The country is already playing host to many projects and the industry here enjoys tremendous support from government.
Supporting Startups
As a result, Labs has declared its support of Argentina’s startups. Better still, the Argentine government has agreed to further invest up to $50,000 in each startup that is a beneficiary of impact investing funding provided by Labs and crypto exchange LatamEX. In addition, the government of Argentina intends to finance 10 -based projects each year for the next four years.
This is a big step for projects in the country and the world at large because it means startups can now be funded in their initial, formative stages by investment partners. According to Jess Davis, CEO of , will require some form of funding and demystification.
He says, “ will be canonized in history as the most collaborative form of finance. It will allow for greater opportunities economically as comes on. Countries that reject this formative model of finance will fall behind no matter the population size. The demystified approach to governance, compliance, and education will bring alternative methods of finance possible globally.”
The Benefits
Governments and investors have a key role to play in promoting global utilization of . Other than providing funds, governments need to provide clear and non-restrictive regulations that protect investors and consumers. At the same time, they need to provide a stable and conducive environment for technology to thrive.
On the other hand, investors should provide start-ups with advice, mentorship and the right technology to enable them develop solutions to real problems. The potential of technology is huge, there are many possibilities of creating jobs for developers. Beyond this, the funding provided to entrepreneurs to establish their startup companies will ensure that jobs and projects in this sector are sustained.
The benefits of are not only economic, they will also be realized in the social space. In countries where inflation and corruption are rife, and can provide an alternative mode of payment in peer-to-peer transactions and also serve as a measure of ensuring transparency.
Disclaimer: David Drake is on the advisory board for most of the firms mentioned or quoted in this article.
Published at Sat, 27 Apr 2019 12:22:57 +0000
