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

First educational center integrating blockchain to verify professional certification: Impacta group based in Brazil has announced the integration of a first blockchain-based educational certification verification program in the country.

The blockchain which is the creation of a Dubai-based startup called Educhain is being widely used in Dubai already but this is the first overseas application of the technology.

According to Marcelo Botelho, Operating Director at Impacta: “Each issued digital certificate gives rise to a single authentication code with the open badge pattern – in addition to a hash code in the blockchain network.”

The certification of the courses can be shared through social media networks and even in the signature of emails.

Mining farm catches fire: A Brazilian crypto mining farm caught fire in the southern part of the country. The farm had almost 70 GPUs installed for mining purposes and was in the process of another expansion.

While there were no human losses reported in the incident, the entire mining operation’s valuable equipment was lost to the fire. Safety issues are often reported, yet neglected in mining operations around the world.

Blockchain investment increasing in Brazil: A recent study by the Brazilian Association of Software Companies (ABES) shows that the blockchain industry is growing steadily in the country along with other parts of the expanded IT industry.

According to the study’s projections, investments in the blockchain-based products will reach USD 9.2 billion by 2021, a ten-fold increase from USD 945 invested in 2017. The projection for 2018 is set at USD 2.1 billion.

The study ranks the US as the top blockchain market but the fastest growth figures will be recorded in Latin America and Japan.

Renault, Eurofarma use Brazilian blockchain to monitor garbage disposal: A Green platform launched by a Brazilian startup is being used by big names like Renault and Eurofarma to help track garbage disposal activities.

The company donates the software to any municipality with more than 500,000 inhabitants.

Argentina

Startup sells virtual land for $120,000: A recent blockchain initiative in Argentina sells virtual land to decentralized inhabitants for a shared living.

The unusual proposal is one of the unorthodox applications of blockchain technology in the world and is viewed by the political scientists as part of a decentralization process called Uberization of the assets.

Number of Bitcoin ATMs increasing in the country: The number of Bitcoin ATMs in Argentina is increasing at a rapid pace as the latest figures show. The country is facing remarkable growth in the region outperforming conventionally strong markets like Brazil.

In 2017 alone, 200 ATMs were installed across the country and the number is likely to increase manifold in the future. A CEO of a Bitcoin ATM company says that a total of 4,000 ATMs may be installed across the nation in the next few years.

Venezuela

Government confirms Petro doesn’t yet exist: An announcement by the Venezuelan government says that Petro is still in development and is not yet available for exchange and general use despite assurances by the President that it will be adopted by banks and the public alike.

While clouds of uncertainty and reports of corruption were present behind the scenes in the creation of the state cryptocurrency, the government always maintained that Petro was a solid cryptocurrency and was forcing banks to adopt it. The latest statement pours cold water into the application of the currency in the near future and raises doubt about the whole process.

 

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