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Latin America Boosts Crypto Adoption

The mass adoption of crypto and its underlying tech, the blockchain, has been one of the most important goals that the crypto industry set. Check out the latest reports about this in Latin America.

Crypto adoption boost

According to the latest reports coming from the online publication Cointelegraph, Brazil is already leading the globe in crypto adoption. Integrating crypto with payment providers in the region is a clear way to see Latin America fully embrace the industry.

Web2 monopolies such as Facebook and Google have been thriving on exploiting users’ data, and the giants have ushered in an era of massive internet centralization in recent years.

This massive power has led to huge shares of communication and commerce closed platforms, and this move gave users little control over how their data is collected.

Here’s what Cointelegraph said about Web3:

“An emerging concept, Web3, will provide a means to pivot from centralization to an open-source internet.”

The same online publication notes that a recent report from Andreessen Horowitz (a16z) found that this new digital economy could reach an astounding 1 billion users by 2031.

Cointelegraph says that if it’s executed correctly, the decentralized internet will allow users to take control of their data and content.

Check out more details about the whole Web3 fuss in the original article. 

Web3 in the news

Robinhood CEO Vladimir Tenev says the number of people who want to get early access to the retail trading platform’s Web3 wallet has already surpassed 1 million.

According to the latest reports, the California-based firm opened a waitlist for beta testers in May.

This happened after announcing that it is launching a multichain, non-custodial crypto wallet that will allow users to trade crypto, access decentralized apps (DApps), do yield farming and store non-fungible tokens (NFTs), among others.

Check out more details about this in our previous article. 

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