“Cryptocurrencies can make up 50% or more for a transfer platform.”

Nerio Parra is a Venezuelan entrepreneur who lives in Argentina. He is currently the director of CBN Exchange, broker on various P2P platforms and consultant. There is also a video channel that talks about precious metals and preserving wealth. With this wealth of experience, he spoke to Cointelegraph in Spanish to share his view of the crypto ecosystem.

Fernando QuirĂ³s (FQ): What potential do you see for Bitcoin and cryptocurrencies?

Nerio Parra (NP): Bitcoin has great potential, it has grown more than 1,900,000% since its inception, and it has many features that would take more than a book to describe (as Andreas Antonopoulos states). I think cryptocurrencies have changed our lives, especially with the blockchain technology that I like best. There are ideas, ideas or other cryptos that also offer added value, such as B. Ethereum smart contracts, or quirky cases like Steem, who had a blogging platform with economic rewards for content creators in a very fluid way while at its peak, and many other valuable examples. Their potential lies in the ability to give us value and to maintain it. I see a transporter and value generator in cryptocurrencies. I know there is fraud in this area as it does with the rest of the instruments. You can create something good and help us as a human, or you can create something that does harm. It is up to us to decide.

“Cryptocurrencies can make up 50% or more for a transfer platform.”
“Cryptocurrencies can make up 50% or more for a transfer platform.”

FQ: Do you see cryptocurrencies as a paradigm shift in finance?

NP: Total. People are able to create. The concept of a verifiable, decentralized and difficult-to-break accounting book has enabled us to create, transport and distribute value so that people can potentially generate solutions. To give an example: If we need a platform to vote on an important decision, but only the shareholders involved in the project should have a vote, we can certainly do so. The concepts of Proof of Work, Proof of Stake, the concepts of loans, rewards and futures in an environment of transparency and security enable us to develop and invite ourselves to continue to create.

CF: Argentina is in a difficult economic situation. What role do cryptocurrencies play in this context?

NP: Argentina cryptocurrencies perform multiple roles. There is a very valuable community that I have gradually got to know over the years and that has already completed projects of different sizes. The Argentine has suffered several economic shocks and is always looking for a chance. Many Argentinians have managed to take advantage of opportunities by overcoming difficulties. There are companies that receive payments in cryptocurrencies, some offer training, others enable trading, others in the food sector. It is a complete tool to develop and deliver value.

CF: Is there cryptocurrency education in traditional academic environments?

NP: Yes, I saw blockchain content at a university. However, there are also very extensive educational platforms like Crypto Resources. There is also a lot of information about the Bitcoin Argentina Facebook group. There is literally years and years of information in the group’s search history. In addition, as in my case, there are consultants who offer personalized training that is very tailored to the needs of each individual, especially those who start in a world that dates back more than a decade and is growing rapidly.

CF: Do you think more financial education is needed in the general population?

NP: Yes totally. Not just in Argentina, but worldwide. Gaps or economic gaps are largely educational differences. I have hundreds of examples of people who have achieved their financial freedom through their financial education, which is very different from other educational institutions. I believe that as long as people take responsibility for their financial education, we will not only improve their development, but also their communities.

CF: And what can you tell us about Venezuela? How do you see the use of cryptocurrencies there?

NP: Unfortunately, the beautiful nation of Venezuela is today a yardstick for the economic crisis. This can be seen in financial forums, indices, hyperinflation classes, devaluation, recession and markets. This is exactly what triggered the use of cryptocurrencies due to their operational connotation. They allow you to transfer value anonymously, and even if the operator understands the extremely high volatility of cryptocurrencies, you can use crypto as a store of value. I particularly emphasize that cryptocurrencies can be a store of value if and only if the operator understands their volatility. In local bitcoins, the Venezuelan nation was the largest volume several times in several years. In 2014, 15, and 2016, there was a broad boom in cryptocurrency mining due to the needs of residents, the ability of Venezuelans, and the nature of the activity itself.

CF: What is CBN? What services do they offer?

NP: CBN Exchange is a service. It is a platform that is active in buying, selling and exchanging credits. Whether it’s digital wallets, cryptocurrencies or fiat money. It was born in 2016 in response to the number of online scams and the fact that there was no platform with a verifiable track record. I have been cheated online several times and have decided to solve the problem. In the meantime, I had to learn a lot to serve others. Currently, with an operating time of three years and more than 30,000 likes, we have received excellent user reception, which is reflected in the ratings of the platform. As with cryptocurrencies, we publish a publication (for reference) for each operation we perform (without specifying amounts) in a fully verifiable manner. Customers comment or leave a note of their experience in each process. Our goal is to provide successful and secure transactions.

QQ: How important are cryptocurrencies to sending transfers?

NP: Cryptocurrencies can represent 50% or more for a transfer platform. An MVTS or “money transfer service” like transfers can make up 1% of a country’s gross domestic product. So it’s a huge business, and cryptocurrencies are an essential tool for transfers.

CF: Have you seen many pyramid schemes or scams in Latin America’s crypto ecosystem? What would you tell people about it?

NP: I don’t remember that time from Argentina as such, but Ponzi plans and pyramids made and developed in other countries, yes, hundreds, and apparently affected people from all over the world, including Argentinians. I didn’t count them, there are many scams in the world, too many. Fraud is not just a pyramid scheme, it is also more complex. For example, if a crypto is developed with its verifiable blockchain, white papers, and everything, create a website, develop social networks to end up making a big promise that the design won’t live up to hundreds and thousands of investors involved then disappear with the money, either through trading or simply by stealing money. The problem is so big that one of my consulting firms is exactly that: “How can I protect myself against fraud in the crypto world”. It is one of the most requested content. The advice is education, education and more education.

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