South America

Welcome to our weekly roundup of all important blockchain and cryptocurrency news from around the world. Follow the latest developments in the cryptocurrency space continent by continent, country by country.

Brazil

Football legend Ronaldinho launches own crypto: Brazilian football legend Ronaldinho has joined Neymar, Messi and James Rodriguez in launching another soccer cryptocurrency that will attract investment from the sports community.

The Ronaldinho Soccer Coin (RSC) as the coin is called, is launched on the NEO blockchain platform which is widely known as the Chinese Ethereum. Through this coin project, the football icon aims to launch his own football academy and host amateur and league matches around the world and promote new players and the sport itself.

Ronaldinho said regarding the coin:

Ever since I thought of retiring, I started to think about my life after retirement. I wish to contribute to the world as much as I can.”

Ronaldinho has partnered with the World Soccer Coin company based in Malta and 350 million tokens are up for grabs as of now. The move follows an increasing interest by the footballing community in crypto as the Premier League team Wolverhampton Wanderers announced the first major deal with cryptocurrency exchange platform CoinDeal.

Avast cybersecurity company releases crypto user survey: A new user survey by antivirus company Avast shows the latest trends in cryptocurrency investment in Brazil with as much as 30% Brazilians interested in investing in the cryptocurrency.

The Avast survey showed that cryptocurrency interest is increasing in Brazil due to the lucrative nature of the coin market. A total of 1,900 Brazilians were interviewed randomly in the study and a large number of them (84%) admitted that they had at least heard of cryptocurrencies and how they operated.

But on the downside, most of the Brazilians only knew about Bitcoin among major cryptocurrencies. Some also have no clue about how blockchains work and how they can be used for Dapps and other initiatives. Nevertheless, as the coin market becomes more popular, cryptocurrency education will be mainstreamed and more people will come to know about its working in the future.

Bitcoin trader sees passport frozen after criticizing tax laws: A Brazilian Bitcoin pioneer and trader’s passport has been frozen after he slammed the government’s tax service including two leading officials in a video statement on Youtube.

Daniel Alvas Fraga, a well-known libertarian and Bitcoin trader, was previously hit by a lawsuit by two tax auditors from the country, Marcio Oliveira Damasceno and Mario Pereira de Pinho Filho, who accused him of libel and slander in a previous video in which he slammed the organization. The case was registered back in 2015 and now the government has taken action against his Brazilian nationality.

Now his official passport has been suspended by the government so that he won’t get away without facing consequences, according to Portal do Bitcoin. The news outlet reported:

“It was further determined, by court order, that his voter’s title, any Internet service contracted by him or in which he was in any a beneficiary, should be suspended, in addition to suspending and preventing the renewal of his driver’s license.”

Fraga is yet to respond to these moves by the government.

Venezuela

Cryptocurrency-tied bolivar to be launched in August: Venezuela’s president Nicholas Maduro, a chief proponent of national cryptocurrency Petro, has said that the weak national currency bolivar will be redenominated in the future and tied to the cryptocurrency, according to latest statements on the Venezuelan National Television.

Maduro said:

“The new bolivar will be issued on August 20 and will be tied to the petro [cryptocurrency]… We will also knock five zeros off the bolivar.”

Venezuela launched the state-owned cryptocurrency Petro this year but its use has so far been limited due to reluctance by other countries and public alike to adopt it.

Dash making inroads in Venezuela’s troubled economy: Popular secrecy-centric cryptocurrency Dash is making inroads into the Venezuelan economy that is struck by poverty and hyperinflation.

Dash is one of the three cryptocurrencies being used in Venezuela, the others being Bitcoin and Nano. While Bitcoin is the most widely used cryptocurrency, Dash is now being accepted in over 522 domestic stores across the country.

Dash’s popularity is linked to an increased market campaigning in the country including monthly conferences, seminars and other mass contacts.

Venezuelan inflation to hit 1 million per cent, forcing people to buy crypto: More bad news from Venezuela shows that the hyperinflation in the country could reach 1 million per cent at the end of the current year according to latest reports from International Monetary Fund (IMF).

The South American country’s condition is already critical as it is suffering from four digit inflation right now but the latest report shows just how bad the state of things is expected to be in the South American country in the near future. The IMF released a comprehensive report on Latin America including some of its better performing neighbors like Chile and Peru.

According to the report:

“We are projecting a surge in inflation to 1,000,000 per cent by end-2018 to signal that the situation in Venezuela is similar to that in Germany in 1923 or Zimbabwe in the late 2000s.”

These reports are extremely discouraging but will contribute to a rise in demand for cryptocurrencies in the country to help avoid inflation.

Argentina

Central Bank of Chile mastering Bitcoin to fight depreciating petro: The Central Bank of Argentina, Banco Central de la Republica Argentina (BCRA), is studying Bitcoin enthusiastically, according to latest reports from the South American bank.

A list of books are being asked by the Central Bank, including ‘Mastering Bitcoin: Programming the Open Blockchain 2nd Edition’ and ‘Blockchain Basics A Non-Technical Introduction in 25 steps’.

These books are expected to help the Central Banking Institute to understand the intricate working of blockchains and cryptocurrencies, thus paving the way for common sense regulations and reform.

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