on the crypto
THEArgentina it is a rather particular case in the panorama of South America, as regards the cryptocurrency. The Bairense country, in fact, represents one of the very few that can boast of having already managed to build a stable cryptographic ecosystem capable of investing in blockchain technology, with the reasonable hope of making a significant profit even in the short term. A panorama also favored by the economic and financial needs prefigured by the practice default into which Buenos Aires fell, after the announcement that it could not pay the debt securities.
The economic situation of Argentina
The economic situation of Argentina is very problematic, so much so that the Argentine financial system has to struggle to avoid collapse. The recipes sponsored by the IMF and adopted by Mauricio Macrì have practically failed dropping the weight again and this is precisely the a reason that is making fintech solutions more attractive in the eyes of local authorities and a large part of the population.
It is precisely the latter which now shows evident signs of distrust towards traditional financial institutions, which joins worrying data on monetary and financial inclusion. Just think that currently in Argentina about 52% of the adult population does not have a bank account.
To this is added that relating to the level of inflation, which skyrocketed last spring, reaching 57,3% only to remain stuck above 50%, despite repeated attempts by the government to lower it. Especially those with minimum wage levels are therefore in great difficulty to keep up with the speed with which prices rise, so much so that the number of those who are barely able to buy basic foods grows exponentially.
The political situation
The deterioration of the economic situation is then joined by the real political crisis in progress. The current president, Macrì, herald of the policies imposed by the IMF, was in fact literally disheartened by the electoral body during the last general elections, in which the block that supports him stopped at 33%, against 47% obtained from the deployment of opponents, which refers to leftist Peronism, led by Cristina Kirchner. A result that combined with the now evident economic crisis, makes the reconfirmation of the outgoing president practically impossible at the moment. A picture seen with considerable fear by the country's economic environments and by a population that sees its own life standards at risk.
The great popularity of Bitcoin and Altcoin
In such a complicated situation, it is not surprising that more and more people think well of turning to BTC and Altcoin to put their savings away from inflation and political instability. Argentina represents the country of the Latin American area where virtual currencies are gathering the most popularity. More and more are those who turn to cryptography, finding fertile ground thanks to the work of a series of startups that look to blockchain as a remarkable opportunity. Sponsored as such also by Technology Review, the magazine published by MIT (Mit) of Boston, which prefigures an increasingly strong role of the fintech sector from the parts of Buenos Aires.
