Although Bitcoin is often touted as a global currency, the reality is that for some countries it may prove more useful than others. While the move towards more widespread Blockchain technology is the trend in the developed world, there are still a lot of people in certain parts of the world who do not have much interest in older books.
Although the developed world is accustomed to having relatively stable currencies and mature financial systems, this is not the case in much of Latin America.
In Mexico very few people make deposits, 7 out of 10 Mexicans do not have a bank account and only 12% of the population has credit cards. So the majority of the economy is a cash economy.
In Mexico, we find an extremely high adoption of cell phones. Almost all Mexicans now have one, the use of smartphones is growing even faster than in the United States.
The factors that explain the low adoption of bank accounts in Mexico do not necessarily include a lack of access to traditional financial systems. There are problems of confidence in the region in terms of banks and the government.
Now, Mexico has the opportunity to establish itself as a leader in the regulation of cryptocurrencies.
A direct blow to the $ 24 billion flow of remittances could make Mexico one of the world's largest Bitcoin markets, taking into account that Bitcoin represents a method to evade the controls that Trump has said will impose remittances on Mexico If that country refuses to pay for the wall. Workers can send bitcoins to the other side of the border more easily and at a lower cost than any other method.