We talked to Decrypto.la co-founder Ivan Tello about his vision for Bitcoin in Latin America and in particular in Argentina
Which are more important, blockchain technology or crypto-currencies? What is the potential in Latin America? Will the price of bitcoin continue to rise? These and other questions were answered by Ivan Tello, co-founder of Decrypto.la, who spoke from Argentina with Cointelegraph en Español.
Fernando Quirós (FQ): Which are more important, cryptomonies or blockchain technology?
Iván Tello (IT): At this stage of adoption, it is clear that crypto-currencies are more important than blockchain technology, because people see uses for it more easily. But, as time goes by and more developments are mounted, it is clear that in the long term the blockchain is what is revolutionary.
CF: What is the potential of crypto-currencies in Latin America?
IT: Latin America today has the possibility of becoming the world’s largest cryptology centre.
We understand perfectly the solutions that crypto-currencies bring because we suffer the consequences of the economic policies of central banks and their infinite emissions with more impact than in other parts of the world.
The Argentine Peso lost 80% of its value against the dollar in 2020, added to restrictions to buy dollars or even to developers living in Argentina and offering their services abroad, are limited to bring that money through traditional channels by restrictions and state controls, which are easily circumvented using crypto currencies.
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CF: Has the pandemic influenced more interest?
IT: I couldn’t determine whether the pandemic influenced more interest, but it is true that the pandemic was part of an explosive cocktail made up of Bitcoin’s Halving, and the endless issues of central bank money, which made it easier to explain the benefits of Bitcoin.
FQ: Is there resistance or rivalry from the banking sector?
IT: At present, most banks already have some area that researches the crypto issue. Some of them have already seen the benefits and currently allow crypto companies to work with them, but of course there are others that are very backward and maintain a resistance.
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CF: Did the economic situation in Argentina also mean that there is more interest?
IT: Whenever a restriction, a ban, is imposed by force, a parallel market is created, so yes, I believe that the economic situation in Argentina means that traditional investors and savers are forced to migrate their operations to the crypto market, saving on stablecoins to escape the peso, which lost 80% of its value against the dollar in 2020, and once inside the new world they see different investment alternatives, such as bitcoin, which tempted investors with the rally they have been holding.
FQ: The price of bitcoin has reached historical highs. Do you think it will continue to rise?
IT: Yes, currently the market is in a clear upward trend that is still far from exhausted. The trend will continue throughout 2021, naturally with intermediate corrections.
FQ: What does Bitcoin have that the Argentine peso doesn’t?
IT: Confidence, transparency, predictability. With Bitcoin we can know exactly how many new coins will be issued in the next 10 minutes, or 24 hours, but nobody knows how many new pesos will be printed in the next week.
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FQ: What is Decrypto.la and what services do you offer?
IT: Decrypto.la is a bridge that connects the traditional world with the crypto world. It allows you to deposit and withdraw different fiat currencies such as pesos, dollars or Peruvian soles and convert them into Bitcoin or Tether among other cryptom currencies.
We also have an investment section for collateralized loans allowing users to invest their money and generate rates of between 7 and 10%, in addition to an OTC table for attention to companies and institutions that require operations of higher volumes.