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“I see huge potential for Bitcoin and cryptocurrencies for Latin America.”

May 20, 2020

Uphold is a well-known exchange platform. Cointelegraph in Spanish spoke to the company’s CEO, Juan Pablo Thieriot, in Uruguay to learn more about his vision of the Bitcoin ecosystem and cryptocurrencies in Latin America.

Fernando Quirós (FQ): What potential do you see for Bitcoin and cryptocurrencies in Latin America?

J.P. Thieriot (JPT): I see great potential in Bitcoin and cryptocurrencies for Latin America. Especially in the countries where changing and unclear economic rules are played; with rampant inflation and the resulting loss of purchasing power for people. Access to cryptocurrencies or Bitcoin becomes very valuable. Not only because of speculation, but also as a means of securing value that is independent of the trustworthiness of local governments. Latin America has shown great acceptance of cryptocurrencies and Bitcoin. Every day thousands of new users from Latin American countries are created on our platform, which shows the great potential.

“I see huge potential for Bitcoin and cryptocurrencies for Latin America.”
“I see huge potential for Bitcoin and cryptocurrencies for Latin America.”

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

JPT: To a certain extent, Bitcoin is used to finance what the Internet was and is an exchange of information that speaks of the technology family, not the currency itself.

CF: There are several countries in Latin America that are in a difficult economic situation. What role do cryptocurrencies play in this context?

JPT: In countries with such changing economies, where the depreciation of local currencies, supported by governments with low credibility, with so much inflation that people’s purchasing power suffers over the course of the day, cryptocurrencies play a role. fundamental role in maintaining or even increasing the value.

FQ: The third halving of Bitcoin has just happened. Do you think this will affect Bitcoin’s price?

JPT: An increase in the BTC price was observed in the days before the halving. However, it can be assumed that the fact that the halving would occur motivated speculators and new investors (small and large) to invest in this currency. However, this did happen, and since the price remained stable in a certain range, this could indicate that the price is continuing to rise. In fact, I would like to.

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

JPT: The world is moving very quickly, more precisely, by leaps and bounds. The fact that in the past few years two strong economic sectors, such as technology and finance, have gone hand in hand implies changes as we see them today. The tools are available to all of us. I think financial education is extremely important. A type of education that can be applied in all areas where people work or manage. I can’t say what the population’s financial educational status is, but I can confirm that people show interest and get involved when there is an urgent need or curiosity about the new and innovative coming into the present. And this is exactly where we want Uphold to be financial, friendly, profitable and, above all, reliable.

QQ: What is UpHold? What services do they offer?

JPT: Uphold is a digital money exchange platform with more than two million customers worldwide and nearly $ 8 billion in transactions registered to date. We generate around 7,000 new accounts every day. Using blockchain technology and Uphold’s new “anything-to-anything” structure, users and customers around the world can switch between 27 national currencies, 30 crypto assets, stablecoins and four precious metals. Everything is very simple and in one step. The platform provides financial accessibility and integration by giving customers the ability to open an account from virtually anywhere, complete the KYC-AML in less than five minutes, and exchange elite assets through a simple interface. Uphold allows users to trade without commissions or send money to virtually anyone worldwide, including payments to businesses and employees, for free. Accounts can be funded through seven cryptocurrency networks, bank connections in around 40 countries, and debit and credit cards. Uphold is available through web, iOS and Android applications.

CF: How do you work in Latin America?

JPT: Latin America has proven to be a very strong region. We think it is very important and have a lot of development potential. We want to increase our presence and reach the entire population by providing full access to all of our financial services. We are facing new challenges, we are working on them.

FQ: The Brave browser with its BAT token offers a very interesting change in the internet advertising ecosystem. And UpHold enables BAT operations. Why did you choose this initiative?

JPT: “Web 3 monetization” is an emerging movement that aims to make the Internet more open, simple, and free from data breaches (among other things) due to the behavior of some dominant companies like Facebook, which have basically turned Users in your main product. The future is brave. The fact that the browser provides internet access privately without warnings from other browsers or services that you don’t want to see and that slow down your browser and ultimately your experience. With Brave, you can not only choose whether you want to see ads, but – for me, the most important thing – get paid for seeing them. What I mean is that you are paid for your basic needs. Hence the name of his BAT token – Basic Attention Token. Brave was founded and is now headed by the Javascript inventor, ex-CEO of Mozilla. They are a great team that can achieve such a goal.

CF: Who benefits most from these new financial technologies?

JPT: There is no area in the world that benefits more from this new world of digital finance than the countries with the saddest economic history.

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