South America

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

Brazil

Brazilian Exchange Association, Bank and Industry Ministry Receive Strange Stablecoin Proposals: A new stable coin is being launched by Lotus Mile, group of blockchain developers, and promoted by Mile Unity Foundation.  In order to lay the foundation of this project, labeled XDR, a series of proposals were set to the Security and Exchange Commission (CVM), Ministry of Industry, and the state-run Banco do Brasil for approval and oversight purposes.

The new project claims that the stablecoin is linked to Special Drawing Rights (SDR), a global monetary tool created by the International Monetary Fund (IMF) in 1969 to support reserves of member countries when needed. While there is considerable confusion and uncertainty regarding the new project, it is clear that stablecoin projects are now working with new innovative ideas to complement the current economic system with the utility of cryptocurrencies.

Brazil and Israel Closing in on Blockchain Partnership: Brazilian startups may engage with Israeli companies to provide decentralization and blockchain initiatives in the country as part of the government’s Industry 4.0 initiative. Israeli help is likely to be sought in defense, cybersecurity, urban management and innovation. The idea was presented during the announcement of the third startup connection between Israel abd Brazil.

Supermarket Chain Starts Accepting Payment in Cryptocurrencies: Brazilian supermarket chain Oasis Supermarcados has started accepting Bitcoin payments in its Rio Di Janeiro stores. Currently, the acceptance is limited to Bitcoin, Litecoin and Bitcoin Cash announced.

According to local cryptocurrency news outlet Portal do Bitcoin, the firm’s manager Douglas Andrade said:

“It’s really easy. It’s like a payment by credit card. The client says which cryptocurrency he wants to pay, the operator types in reais and the system already converts to that crypto. Then just scan the QR code and you’re done”

It is yet to be seen whether this is just a novelty move or a serious attempt at integrating cryptocurrencies into the commerce sector.

Venezuela

Pre-loaded Dash Phones Sell Like Hot Cakes: The ongoing financial crisis in Venezuela means that the penetration of cryptocurrencies is increasing, made quite evident by a company dealing in phones with pre-built Dash features, which is reporting healthy activity in the country. Dash is a borderless cryptocurrency with focus on anonymity and fast transactions.

The Dash-ready phone is called Kriptomobile and so far as many as 66,000 phones have already been sold in the inflation-struck country. The device was launched in partnership with Dash itself. Useful features include built-in wallets for Dash and other popular cryptocurrencies. The company is also promising offline cryptocurrency transactions facility to the users.

Colombia

Country Becoming the Destination for Increasing Number of Bitcoin ATMs: Colombia’s third largest city by population Medellin, saw the unveiling of the third Bitcoin ATM in the district. With the latest ATM now being operational, the total number of Bitcoin ATMs in the country is now 17.

The ATM was installed by American cryptocurrency company Athena Bitcoin. According to its Latin American director Matias Goldhorn:

“There’s more volume – more transactions and more people using cryptocurrencies for everyday things – in Colombia, though it’s picking up across the region. There are a lot of freelancers in Colombia who receive their payments in bitcoin and they use our ATMs to get their money in fiat and then there are people sending remittances to Venezuela are using them. Those are the two main users we have now in Colombia.”

Athena has also opened one Bitcoin each in Argentina and Chile with one also operating in Central American Mexico. Athena rates Colombia one of the fastest adopters of cryptocurrency in South America.

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