Which is more important, blockchain technology or cryptocurrencies? What’s the potential in Latin America? Will the price of Bitcoin continue to rise? These and other questions were answered by Iván Tello, co-founder of Decrypto.la, who spoke to Cointelegraph en Español from Argentina.
Fernando Quirós (FQ): Which is more important, cryptocurrencies or blockchain technology?
Iván Tello (IT): At this stage of the rollout, it is clear that cryptocurrencies are more important than blockchain technology as it makes it easier for users to identify its use. But over time and as developments increase, it is clear that the blockchain is the revolutionary thing in the long run.
QQ: What potential do cryptocurrencies have in Latin America?
ITEMS: Latin America today has the opportunity to become the largest crypto hub in the world.
We fully understand the solutions that cryptocurrencies bring because we suffer from the consequences of central banks’ economic policies and their infinite emissions, which are more of an impact than any other part of the world.
The Argentine peso lost 80% of its value against the dollar in 2020, adding to restrictions on buying dollars or even developers living in Argentina and offering their services overseas with limited access to that money across the street traditionally bring through government restrictions and controls that cryptocurrencies can easily bypass.
QQ: Did the pandemic attract more interest?
ITEMS: I couldn’t tell if the pandemic was affecting any more interest, but it is true that the pandemic was in an explosive cocktail that consisted of the halving of Bitcoin and the infinite issuance of money by central banks, which made it easier to explain to Bitcoin Benefits.
QQ: Is there any resistance or rivalry in the banking sector?
ITEMS: Currently, most banks already have an area that deals with the topic of crypto. Some of them have already seen the benefits and currently allow companies in the crypto sector to work with them, but of course there are others who are very backward and resist.
QQ: Did the Argentine economy also mean there is more interest?
ITEMS: Whenever a restriction or ban is imposed by force, a parallel market arises. Yes, I believe that the economic situation in Argentina is causing traditional investors and savers to be forced to move their businesses to the crypto market. They’re saving on stablecoins to escape the peso, which lost 80% of its value against the dollar in 2020. Once in the new world, they see various investment alternatives such as bitcoin that have tempted investors in the rally.
QQ: The price of Bitcoin has hit an all-time high. Do you think it will keep going up?
ITEMS: Yes, the market is currently in a clear upward trend that is far from exhausted. The trend will continue throughout 2021, of course with interim corrections.
QQ: What does Bitcoin have that the Argentine peso doesn’t have?
ITEMS: Trust, transparency, predictability. With Bitcoin, we can know exactly how many new coins will be issued in the next 10 minutes or 24 hours, but no one knows how many new pesos will be printed in the next week.
QQ: What is Decrypto.la and what services do you offer?
ITEMS: Decrypto.la is a bridge that connects the traditional world with the crypto world and allows you to deposit and withdraw various fiat currencies such as Peruvian pesos, dollars or soles and convert them to Bitcoin or Tether among other cryptocurrencies.
We also have a secured loan investment section where users can put their money and generate interest rates between 7% and 10%, aside from an OTC counter to serve companies and institutions that need a larger volume of business.
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