South America: Crypto and Blockchain News Roundup 16-22 November 2018

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

Increasing Number of Brazilians Preferring Digital Payments: A recent survey shows that Brazilians are increasingly willing to migrate to digital payments alternative. The tendency was highest among all the surveyed countries including Germany, United Kingdom, Netherlands, France, Australia, and the United States.

According to the survey by SalesForce, 9400 people were interviewed in these eight countries regarding different aspects of the digital consumer experience. 75% of Brazilians preferred allowing their preferences and personal data for a better consumer experience. 70% of them were willing to make purchases online through company websites while 52% made purchases through social media. In addition, 35% of the responders wanted a customized digital channel for offers based on their browsing activity.

Cryptocurrencies especially Bitcoin are slow in being adapted into the spectrum because of people’s reliance on the fiat currency model that has physical bank notes. With the progressive mindset, Brazilians will be more likely to adopt cryptocurrency payment solutions in the future according to the survey.

Graffiti Artist Accepting Payment in Bitcoin: Famed graffiti artist Cris Rodriguez has announced that he is now accepting Bitcoin payment for his works. The artist recently received the Art Brazil award for his exhibition where 52 artists and their 208 works were on display.

Rodriguez announced the acceptance of Bitcoin after an advice from a friend who was a cryptocurrency enthusiast. The celebrated painter who has his works exhibited in more than 30 countries is now accepting Bitcoin directly for his artworks in addition to sales at art galleries.

Brazilian Analyst Says Bitcoin could Rise 100% by the end of the Year: Brazilian cryptocurrency analyst Rodrigo Cohen has claimed that Bitcoin’s price could reach almost $13,000 by the end of the current calendar year.

Cohen pointed out to new Bitcoin ETFs as well as the entry of big players like the New York Stock Exchange, Fidelity, and Blackrock that can appreciate the price of the world’s largest cryptocurrency. However, not all of Cohen’s colleagues share this view with many predicting it between $6,000-$7,000.

Cryptocurrency Exchange Associations Send Proposals to Revenue Office: Top two cryptocurrency exchange associations in the country including ABCripto, and ABCB have forwarded proposals to the Federal Revenue Service for public consultation purposes. 

The proposals include several recommendations including lowering the cap of the minimum transaction reported to the revenue service as well as relaxation of other rules to benefit the cryptocurrency industry.

Sao Paulo Event to Showcase Switzerland’s Ethereum Dapps: A November 26 event will see specialists from Crypto Valley, Switzerland showcase their Ethereum-based dapps in the city.

The event will take place from 7-10 pm in the city and will have six lectures for six dapps already operating in the European country that are ready to use. The event is part of a bigger initiative called Blockchain on Tour.

Venezuela

Parliament Approves Crypto Bill to Help Tackle Financial Restrictions: The top legislative body of the country, the Constituent National Assembly has passed a bill of cryptocurrency regulation to combat financial sanctions imposed on the country by the US and its allies.

The law proposed by the current President Nicholas Maduro consists of 64 articles and five transitory positions. It legalizes Petro, the state cryptocurrency project of the regime within the country as well as amendments to current anti-money laundering laws. Under the new legislation, cryptocurrency exchanges are allowed to carry out foreign operations using Petro.

While Petro was officially launched by the government last month, it still struggles with adoption by trading partners, and the public because of various technical issues.

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