South America: Crypto and Blockchain News Roundup 9th to 15th February 2019

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

Crypto Association Launches Crypto Prize: ABCripto, one of the top two crypto exchanges in the country has launched a new crypto prize to recognize the leading experts in the field who are working in startups and market development.

The new ABCripto Prize is open for entries and applications must reach ABCripto by March 16, 2019. All innovators involved in this sector can apply for the prize by following this link. 

There are three categories for prizes in the event, including Professional of the year, Academic and Influencer. The actual date, place, jury and other details will soon be announced by the association.

Florianopolis Shopping Center to Accept Bitcoin in a First: Brazilian city of Florianopolis will see a host of new outlets accepting Bitcoin as payment at the new Multi Open Shopping Mall. They include a movie theatre, stores, and other commercial areas. More than 90 outlets in the arena are expected to accept BTC.

The BTC payment will be enabled in partnership with Bancryp which has also invested in an office in the space. Florianopolis is swiftly becoming an important tech hub of the country and accepting crypto payments will bring more investment and jobs to the area.

P2P Bitcoin Traders Adopt New Price Index: P2P Bitcoin vendors in Brazil have adopted a different Bitcoin price index because of premium related issues. While Bitcoin trading on exchanges is booming in the country, P2P vendors and traders like the ones operating on localbitcoins.com have different dynamics and thus have jacked up the price of the cryptocurrency which is a little higher than the latest official exchange rate.

There is a new index called the Brazilian Real Index (BRIX) that now truly determines the actual exchange rate in these cases. It has already been adopted by invested.com in the country.

New Bill Could Help Blockchain Penetrate Further: Newly elected president Jair Bolsanaro will soon sign a new decree that will help cryptocurrencies and blockchain projects working in the country. According to the Civic House of the Republic, the new bill will include provisions to integrate all documents with the CPF (Register of Citizens).

The new CPF integration will be registered on the blockchain, on a platform developed in partnership with Dataprev. With this implementation, Brazil will become the first country to register its citizens on a blockchain application.

Argentina

First Export Deal Settled with Bitcoin Payment: The Argentinian government has exported pesticides and fumigation products to Chile using Bitcoin in a first between the two countries. The deal was worth USD 7,100 and may form the basis of increased BTC use in the region.

The payment was facilitated by Bitex, a South American crypto payments enabler. Argentina is seeing increasing adoption of cryptocurrencies as the country is suffering from hyperinflation and other economic issues. Experts believe cryptocurrencies can help Argentina progress economically.

Chile

Central Bank Believes Cryptocurrencies are Unable to Substitute Fiat: The Chilean central bank believes that cryptocurrencies do not have the capacity right now to replace fiat currency.

In a report sent to the Tribunal de Defensa de la Libre Competencia (TDLC), a competition commission in the country, the bank’s research argues that cryptocurrencies’ market penetration and usage has many issues and it will take time for them to reach at par with the fiat currency. Legal issues and compliance will also be discussed.

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