For Martín González, the CEO and co-founder of Blockchain Art Gallery (BAG) The Latin American region is one of the places where blockchain technology and the crypto ecosystem have the greatest impact due to their socio-economic characteristics.
González points out that hehe events held in the region, such as DevCon in Bogotá, show that the region has very good expectations for the futuregiven the importance of the main event at the development level both for the Ethereum ecosystem and for the blockchain industry in general.
In this sense, he highlighted thatEthereum’s transition from a PoW to PoS consensus mechanism, known as ‘The Merge’ became the ‘Breakthrough of the Year’, managing to restore confidence in part in the ecosystem after the unfortunate events that occurred around the collapse of Terra and some crypto lending platforms such as BlockFi.
He highlighted that the recent fall of FTX has revived the debate in the sector on regulation and that “An exchange is not a traditional bank that functions as a money multiplier and is backed by a fiat currency-issuing central bank. Therefore, an exchange cannot leverage itself with money from its clients or with its own tokens. And it must also clearly and transparently show the existence of the funds protected and the amount of debt and tokens used in the DeFi or centralized system.”
For González, events like the fall of Terra, FTX, BlockFi and other companies in the sector this year will only erode confidence in the sector and prolong the bear market currently in the industry.
He stressed that despite the adverse market conditions, it was a spectacular year for his company. They hope that in the next year they can increase their turnover and make ‘quality products’.
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