In 2021, Latin America saw a skyrocketing increase in crypto adoption amongst the 20 nations and 14 dependences that make up the area.
A variety of conferences, associations, brand-new policies and nonfungible token (NFT) jobs as well as the worldwide bull market made last year an interesting one for the area.
Let’s take a appearance at some of the most intriguing advancements in the blockchain and cryptocurrency environment in Latin America in 2021.
Colombian monetary companies partner with crypto exchanges
Early in 2021, the Financial Superintendence of Colombia authorized numerous collaborations inbetween banking organizations certified in the country’s monetary system and cryptocurrency exchanges.
The 9 collaborations consistedof significant names from the cryptocurrency market such as Binance and Tyler and Cameron Winklevoss’ Gemini.
The regulator stated that these approvals were made within a regulative sandbox for screening technological services in the world monetary market and will have a trial duration of up to one year.
Crypto acknowledgment in Latin America
In 2021, the fast development of digital currencies led some Latin American nations to formally acknowledge their usage as a payment instrument, inspiteof their trackrecord for volatility. El Salvador’s authorities acknowledgment of Bitcoin (BTC) as legal tender — a world-first — made waves not just in Latin America however throughout the world.
Salvadoran President Nayib Bukele’s Bitcoin Law was authorized by a bulk vote in the nation’s agent body, the Legislative Assembly, and came into result in September.
In August 2021, Cointelegraph reported that the Central Bank of Cuba was expected to acknowledge cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Tether (USDT) for industrial deals and financialinvestments.
The president of the Central Reserve Bank of Peru, Julio Velarde, announced in November that the country will partner with the main banks of India, Hong Kong and Singapore to establish its own main bank digital currency.
Blockchain occasions in 2021
As a outcome of lockdowns and subsequent confinement throughout the COVID-19 pandemic, lotsof blockchain business and companies reviewed their techniques and took to theonlineworld to satisfy up and participatein conferences.
Blockchain Summit Latam
The Blockchain Summit Latam conference is thoughtabout to be one of the most crucial crypto occasions in Latin America, promoting the crypto and blockchain environment in the area. In September 2021, its 5th edition hosted 100 professional speakers from the morecomprehensive community.
Over 5 days, more than 60 virtual areas hosted workshops and conversations focused on blockchain innovation. The subjects consistedof facilities and applications, the Ibero-American environment, organization, decentralized financing, blockchain in the conventional monetary system and more.
LaBitConf
In November 2021, the ninth edition of the Spanish-speaking Latin American Bitcoin and Blockchain Conference, likewise understood as LaBitConf, was held. The conference combined inperson and virtual conferences, and the program included more than 150 market professionals providing more than 40 discussions on subjects such as Bitcoin mining, the future of exchanges in Latin America, policy, and personalprivacy and security, amongst others.
Cripto Latin Fest
In December, the 4th edition of Crypto Latin Fest integrated online and in-person conferences over 2 14-hour days including talks and workshops with professionals in the cryptocurrency area.
Notable people from the crypto community in Latin America — such as José Rodríguez, director of Blockchain Land at Talent Land, and Elian Huesca, neighborhood lead for Latin America at Bitso — covered subjects such as blockchain, stablecoins, cybersecurity, legality, DeFi and crypto adoption.
Blockchain Land
The enormous Spanish-language Blockchain Land conference — provided by the verysame business that produced Talent Land Latinoamerica — released for the veryfirst time in 2020 and was broadcast concurrently in the Decentraland and Cryptovoxels metaverses.
The occasion, held in April, was one of the biggest Spanish-speaking occasions and was thoughtabout to be the most ingenious, as it was broadcast concurrently in 2 virtual worlds existing on the Ethereum blockchain where the users might connect, speak and network.
NFT boom in Latin America
Last year, nonfungible tokens took off in Latin America and around the world.
In September, Argentine NFT market SeSocioNFT opened up store, promoting and selling pieces from Latin American artists. The platform apparently prepares to adjust pieces produced by numerous artists into NFTs so that they can then be offered on the market.
The NFT boom led to the first digital art gallery in Ecuador, NFTs Exhibition UIDE hosted at the International University of Ecuador. The gallery was open from Nov. 24 till Dec. 23 and showed around 40 works by 4 Ecuadorian artists and 15 immigrants, valued at $160 million in overall.
A cumulative of Venezuelan artists understood as La Tokenia, inaugurated their NFT exhibit on the Tezos network in December.
Meanwhile, in November, the Colombian federalgovernment signed a mining agreement with the National Mining Agency that was signedup as NFT on the Ethereum-compatible GoChain blockchain.
Read More. https://bitcofun.com/nfts-payments-and-conferences-crypto-in-latin-america-in-2021/?feed_id=8599&_unique_id=621c7d155b1e0
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