Bitcoin adoption in Brazil… watch this video and you too will see that Bitcoin is set to EXPLODE in Brazil!
Let’s set the scene and learn more about Brazil – the country was named after the Brazilwood tree which was used primarily for it’s red dye but now mainly for cabinet work and for making violin bows. Interesting to note that International trade for Brazilwood is now regulated.
Brazil has a population of 210 million people with 84% living in urban areas – Brazil ranks 5th in the world in terms of population. The median age is 31,7 years.
In terms of the economy, Brazil is the world’s seventh-largest economy in the world and is now in recession. Predictions are that the economy in 2017 will start to recover slowly by growing 0.9% as it lost almost 4% in 2015. Political disruption and corruption culminated in Dilma Rousseff being stripped of the presidency on 31 August for breaking fiscal laws with acting President Michel Temer’s mandate until 2018.
Is Brazil embracing the new digital economy? Here are some statistics … The Internet will have 57% of penetration in Brazil from 2016 even though it’s internet is the second most expensive in the world; Brazil is one of the top ten countries with highest number of PC’s; More than 90% of mobile internet users in Brazil ages 34 and younger now have a smartphone and the number of people who use the internet via mobile phone is over 83 million monthly in 2016.
In terms of Bitcoin adoption, there is much activity in Brazil. Total value of bitcoin trading among digital currency exchanges in Brazil surpassed gold spot trading on the Brazilian Securities, Commodities and Futures Exchange – during the first half of 2016. Bitcoin trading is surpassing that of gold in Brazil, by nearly 7 percent! South America’s biggest stock exchange operator, BM&F Bovespa, has joined the R3 distributed ledger consortium. The first Bitcoin ATM has just been released by BitVale and is operating in São Paulo’s Avenida Paulista. The Snapcard and Pagpop partnership have enabled more than 12000 merchants to accept bitcoins.
Bitcoin Exchanges such as BitFox, BitcoinForYou, Mercardo Bitcoin and OTC platform LocalBitcoins are all operating in Brazil successfully.
Banco Santander’s report will show a resounding YES to Bitcoin… the signs are there for Bitcoin to EXPLODE in Brazil!
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