Vitalik Butterin noted that crypto adoption in Argentina is very high but stable coins adoption by businesses is much higher.
In the past few months Vitalik Buterin, co-founder of Ethereum, was in Argentina. However not many details are known about his purpose to go to Argentina but reportedly he was on vacation, however, he attended some crypto meetings also.
In 2013, Vitalik predicted that Bitcoin will help people much and adoption will be at the next level. So in the last few months, Vitalik noted that South America is moving toward crypto more than he was thinking. He wrote:
“Last week, I went to Argentina! My verdict: generally correct. Cryptocurrency adoption is high but stablecoin adoption is high too; lots of businesses operate in USDT. Though of course, if USD itself starts showing more problems this could change.”
Interestingly Argentina is moving toward crypto adoption from every point of view, whether it is crypto mining or the use of crypto assets for payment purposes or trading purposes. And the main reason for the crypto & blockchain industry adoption is increasing inflation.
Vitalik also admitted that he was wrong when he underestimated the complexity of the software development-based works in the crypto and blockchain industry.
Further Ethereum co-founder noted how the Ethereum ecosystem made the whole ecosystem much better to use in terms of better simplicity and use case of the technology.
Vitalik also hinted that businesses, that are giving high yields on the Investment, may face some problems because Central Bank investigations may impose some restrictions and problems.
These things showed that, While Vitalik was on vacation, he was enjoying his vacation in Argentina to see how the world is moving toward crypto and blockchain innovation and what can be the future.