You could point to a dependence on commodity exports and its booms and bust cycles, government corruption, income inequality or a combination of them all.
China to leapfrog US as world's biggest economy by 2028 - think tank
Inhe oversaw the acquisition of Taringa! However, I believe the tide is shifting.
With the current trends linking connectivity, digital payments, fintech investment and decentralized finance DeFiit seems realistic that in the next 10 years bitcoin and DeFi dapps can provide Latin America with the means to leapfrog into a highly interconnected and efficient regional economy. A decade of adoption Unlike the European model that was built from the top down, this financial ecosystem is emerging from the grassroots. Much like mobile phones disrupted the African economy, this new financial infrastructure has the potential to open up new markets, giving birth to a new, decentralized, peer-to-peer economy.
China to leapfrog US as world's biggest economy by - think tank
Within a decade I envision Latin America having a regional economy built from the ground up. An economy that can stand apart from oppressive government-driven fiscal policies — a true peer-to-peer system, driven by the people — and based on blockchain technology.
Currently, LatAm is leading the world in smartphone app usage, and network infrastructure is expanding rapidly to match. I believe these advancements play a key role in LatAm catching up with more developed economies without going through intermediate stages of development.
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What will it look like? Now, permissionless payment solutions and reputation-based digital identities are being developed, and they will serve as the pillars for economic transformation.
The coming years could be a newborn era of Latin America driven by a peer-to-peer digital economy. The combination of the two will allow the unbanked to begin transacting regionally or even globally in a peer-to-peer manner, enabling the creation of new innovative business models with the added benefits of geographical arbitrage.
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For example, online local food cooking classes will be transmitted over the internet to anywhere in the world, with payments conducted with bitcoin or highly adopted stablecoins. People will no bitcoin in africa leapfrogging il mercato valutario carry a physical ID, they will prove their identity and credentials by scanning a QR code or via online digital bitcoin in africa leapfrogging il mercato valutario.
User interfaces will be based on apps and browsers, but powered by open blockchain networks, without users having to know or care about the infrastructure layers underneath. No need to bank the unbanked Along with digital identity, another enabler of the transition to a peer-to-peer economy is what is hyped today as DeFi. Lending, borrowing, hedging and speculating will all be available for local residents in a simple and secure manner. And, perhaps most importantly, I believe LatAm residents will be able to obtain capital and revenue from a global audience of investors.
Future revenues generated by the community will be shared with the investors, and incentives will stay aligned across all groups — making everybody happy.
Latin Americans stablecoin adoption will continue to thrive because it offers a means of doing business with others in the region across borders, without having to exchange indice cripto chart vivo currencies or handle their volatility risks.
A decentralized internet — no longer a buzzword Bythe social fabric of Latin America will also be transformed. Enabled by the pillars of self-sovereign identity and a digital economy, I can imagine a future where, ultimately, a fully decentralized internet would give people control of their identity and data.
I can see a future where social media platforms consist of users who receive fair incentives directly aligned to the size and engagement of their followers. Where businesses can market their goods and services directly to consumers who want to buy them. Once individuals are given control of their data, they will also be able to profit from it.
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The users will be in control of the internet, as opposed to a few economic groups as it is today. My home region is in a prime position right now. After decades of suffering generalized corruption, financial volatility, high poverty levels and income inequality, the coming years could be a newborn era of Latin America driven by a peer-to-peer digital economy.