Hey guys, this is my first post and i want share a reflection about fiat money and the Latin America people that i belong from, that are suffering the pandemic and i really think blockchain tech, the DeFi market and Crypto Market in general is changing already the game in Latin America countries.
Blockchain technology and the gigantic cryptocurrency market can change the way in which Latin America can obtain the desired financial freedom and emancipate itself from central banks and the censorship of authoritarian governments in the countries of South America.
Currently the cryptocurrency market in Latin America is trending topic, especially in countries like El Salvador for legalizing Bitcoin, in addition countries like Venezuela, Argentina and Colombia are adopting the crypto market to carry out their daily transactions and live off this beautiful market whose technology can change the life of millions of people
Now, let's ask ourselves, how come FIAT money to obsolete paper and has no value?
We are going to see four examples.
First, we are going to observe the graph of the devaluation of the national currency of El Salvador, the first country in the world to legalize bitcoin, and a simple graph shows the devaluation of the Salvadoran Colón in relation to the US Dollar.
Now, we are going to see the 10-year graph of the Salvadoran Colón in relation to Bitcoin:
Second, we are going to see the example of the national currency of Venezuela, the Bolívar, this currency in relation to the US dollar, is literally worth zero.
Third, let's look at the example of Argentina and its national currency, the Argentine peso. Currently, this currency has also depreciated to the point of being worth zero in relation to the US dollar.
These examples show the devaluation of fiat currencies in Latin America in relation to the dollar. But if we look at it from another perspective, the same US dollar can devalue in relation to the price of bitcoin and other cryptocurrencies, such as LEO, CUB, DOGECOIN and other projects that could change the course of the whole of humanity. Let's see the graph:
The US dollar and fiat money in general is devaluing in all countries of the world, the value of blockchain technology and the crypto market, with projects like DeFi, NFTs are changing the course of capitalism globally.
That is why it is important to globalize the market towards the poorest countries, the example of the legalization of bitcoin in El Salvador can open the door to new ways for citizens of all countries in the world to emancipate themselves from central banks.
It's simple, FIAT money and the US dollar as the world's reserve currency is losing its monopoly. Financial freedom will be available to everyone, and we are being part of history as we seek that the citizens of the world achieve financial freedom and achieve a common desire: autarky.
Posted Using LeoFinance Beta
