Article: Legalization of Cryptocurrency will Kickstart Economic Development in Latin America

Crypto, Governance, Innovation, Money

Legalization of Cryptocurrency will Kickstart Economic Development in Latin America

The popularity of cryptocurrencies around the globe has forced governments to reconsider their initial stances on cryptocurrency acceptance within their specific borders.

In June 2021, El Salvador became the first country in the world to approve Bitcoin as a legal tender. Other Latin American governments including Paraguay, Panama, Brazil, and Mexico, have expressed similar interests in supporting cryptocurrencies as legal tender.

Cryptocurrencies act as a uniquely safe economic instrument in a region plagued by government corruption, interference, and low productivity. In this respect, the adoption of cryptocurrencies as legal tender serves to guarantee some semblance of economic stability for countries in Latin America, allowing for a true launch of economic development initiatives into the digital age.

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Article: The debate about cryptocurrency and energy consumption

Crypto

bitcoin miningThe debate about cryptocurrency and energy consumption

Energy consumption has become the latest flashpoint for cryptocurrency. Critics decry it as an energy hog while proponents hail it for being less intensive than the current global economy.

One such critic, DigiEconomist founder Alex de Vries, said he’s “never seen anything that is as inefficient as bitcoin.”

On the other side of the debate, research by ARK Investment Management found the Bitcoin ecosystem consumes less than 10% of the energy required for the traditional banking system. While it’s true the banking system serves far more people, cryptocurrency is still maturing and, like any industry, the early infrastructure stage is particularly intensive.

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