Latin America is a less developed region, but in terms of adoption, trading and interest in cryptocurrencies is greater than elsewhere in the world. According to a Sherlock Communications survey, more than 30% of Latin Americans are interested in investing in cryptocurrencies to increase wealth or maintain asset value in times of economic instability. The survey involved more than 2,200 people in Argentina, Brazil, Colombia and Mexico.
Nearly half of respondents agreed that cryptocurrencies would facilitate international money exchange, and about a third believe that these technologies could replace uncovered fiat currencies. And it's not just Bitcoin. Latin America is a region where decentralized applications could do very well. Peru, Chile and Brazil are currently experimenting with using blockchain-based decentralization to optimize their administration, which would be more resistant to corruption. Of course, there are countries where people's reasons for adopting cryptocurrencies are different. For example, Venezuelans are resisting hyperinflation with BTC purchases and the situation is similar in Colombia. Yet, Latin America seems to be turning more and more every day to cryptocurrencies as well as decentralization and the revolution that these technologies are bringing.