Latin America is ready for crypto-just integrate it with their payment systems
2022.09.12 05:03
Latin America is ready for crypto — just integrate it with their payment systems
Thriving on exploiting users’ data, Web2 monopolies like Facebook (NASDAQ:META) and Google (NASDAQ:GOOGL) have ushered in an era of massive internet centralization in recent years. This concentration of power has enabled huge shares of communication and commerce closed platforms, giving users little control over how their data is collected.
An emerging concept, Web3, will provide a means to pivot from centralization to an open-source internet. A recent report from Andreessen Horowitz (a16z) found that this new digital economy could reach an astounding 1 billion users by 2031. If executed correctly, the decentralized internet will allow users to take control of their data and content.
Holger Arians is the CEO of Banxa, a payment and compliance infrastructure provider to the global crypto industry.
