South America: Crypto and Blockchain News Roundup, 6th to 13th April 2018

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.

Chile

Chile undergoing trials for Ethereum-based pilot to store energy data: Chile’s national energy commission Comisión Nacional de Energía de Chile (CNE) has announced a new project that will utilize the Ethereum blockchain to store the energy sector data.

In a press release issued on 6 April, the CNE detailed the benefits of using a decentralized system as opposed to a centralized “easy to manipulate” standard security database. The Ethereum blockchain’s revolutionary capability to be programmed by any entity lends power to the initiative.

CNE’s latest move will allow the public to see the data through several graphical user interfaces. Chile’s minister for energy Susana Jimenez noted the crucial nature of the public disclosure of critical energy data. It will allow the public to access the readily available information and increase confidence in the government’s working.

Argentina

Argentina hosts Bitcoin Day: Argentine capital Buenos Aires was home to the Bitcoin Day conference which welcomed more than 500 crypto enthusiasts. Bitcoin is being greeted with open arms in the South American nation that has suffered from hyperinflation and other economic issues in the recent past.

In 2017 alone, the volume of Bitcoin traded in the nation was close to 2.1 million Argentine Peso (ARS), four times the amount traded last year.

In the conference, Carlos Maslaton, head of treasury at wallet provider Xapo, said that he was satisfied with current dialogue in the country with the financial institutions and there was generous competition in the markets.

Venezuela

Petro faces allegations of falsifying records: Venezuela’s controversial cryptocurrency Petro has taken another hit after falsification was found in a discrepancy report based on its white paper. The issue was reported both by CCN and Criptomoedas Fácil. The whitepaper shows that 38.4 million tokens were to be sold, each valued at USD 60 with a 60% discount at the ICO stage. If the stage went as planned, USD 2.304 billion would have been raised. President Maduro claimed that USD 5 billion was raised in the ICO which is in a direct contradiction of this.

This supports earlier claims that the Venezuelan cryptocurrency might not be transparent and that the government might be meddling in its records. Still not much is known regarding the mechanism of the El Petro Coin which is supposed to be backed by oil.

Brazil

Brazil university launches Bitcoin masters program: Sao Paulo-based University Fundacao Getulio Vargas has announced that it will be offering a masters degree in cryptofinance to prepare students for the future of digital currencies. The program is a reflection of Brazil’s forward-thinking approach in the decentralized sector. The University of Sao Paulo is also embracing new technologies including blockchain and cryptocurrencies in its derivatives course.

 

 

 

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