From Uruguay, the inBierto company wants the opportunities offered by the cryptocurrency ecosystem to allow the development of knowledge and experiences for its users, one of its most recent highlights was the incorporation of an ATM in the resort town of Punta del Este. And the objective of the company is to be able to grow with the continent, since they consider that Latin America is an ideal setting for this type of proposals, forming part of the mission and vision of their undertaking.
We spoke with the founder of the company, Adolfo Varela, who pointed out: “We are dedicated to channeling traditional investments to the crypto world, that is why our vocation is based on face-to-face talks, explaining the history of money, the internet and the value that it means. to where we are today. Our idea is to explain what the purpose of crypto ecosystems is and why they are so strong in terms of future potential “
For the Central Bank of Uruguay, the growth that cryptocurrencies have had is something that they could not ignore, announcing that they are evaluating the measures that will allow the market to be regulated and guarantee security for users. This will be achieved with work teams dedicated to the study of the instruments and operations, making the necessary amendments.
From InBierto they consider that regulation is a positive path, since they do not want to deny the impact they have had on the country’s economy.
“In Uruguay you cannot bank money from cryptocurrencies, for that there must be regulation and the path that the Central Bank of Uruguay chose is positive, because it was not a denialist,” Varela said in an interview for Forbes Mexico.
As we commented in the article on what conditions the Central Bank should take into account for the adoption of cryptocurrencies in the Latin American region, one of the main problems is that the management of budgets, use of savings services and access to financial products are is below average compared to G20 countries.
It can be considered that one of the positive factors of the pandemic has been the forced digitization of many people who were out of these services, and that is that according to information provided by Americas Market Intelligence, by 2021 the unbanked population has almost completely disappeared except for rural areas.
It is then that the motivation of Fintech companies must continue to aim at offering financial products that dissipate the frontier of ignorance.
As the information provided in product validation surveys by the founders of InBierto demonstrated, the doubts of the users consulted stem from why cryptocurrencies have value in the face of possible scams, how to make use of cryptocurrency exchange platforms and how guarantee the safety of operations.
That is why it is assimilated that the education of the company’s potential clients, starts as a prioritized objective. By virtue of the benefits they hope to achieve taking into account the promotion of educational activities, Varela commented:
“A community with more knowledge will be more responsible in the use of cryptocurrencies. This will give us access to a healthier market and help people to transfer their ideas from the traditional world to the decentralized ecosystem ”.
Ferret token is the company’s flagship product, whose function is to serve as a bridge between the financial services that the parent company wants to implement. In this way, users will be able to have access to fund credit cards, withdrawals of money linked to their cryptocurrencies at the ATMs that they plan to distribute in the country, tokenization of customer commercial activities, among others. However, they noted that they are limited in how quickly these benefits can be made available to the general public, as decentralized solutions are constantly evolving.
New Ferret ATH 🚀🚀
Just a few days to open the first crypto ATM in Uruguay!
– Ferret Token (@FerretToken) December 27, 2021
“Uruguay has a negative rate of programmers, it takes five thousand professionals to meet the demand of the software development industry in the country. To that we must understand that we also need programmers with knowledge in Blockchain and Web3. That is why we take into account that overcoming territorial borders will give us the ability to have the best, in our team we have people from both Uruguay and Colombia ”, Varela commented.
The developers of InBierto do not stop taking into account that the tokenomy of the Ferret Token had to have characteristics that were not similar to the problems that they propose to solve in Latin America.
Varela affirms that with the condition of burning of tokens in the smart contract, the users of the service are not exposed to a currency that is going to be printed and constantly lose value, despite the fact that they understand that the price fluctuation generated by volatility is part From the market. For this reason, in order to continue implementing and growing together with the region, they commented that they are willing to continue attracting the necessary personnel to help them meet that objective:
“We are always looking for knowledge, wanting to develop and we highly highlight the potential of a person who understands that everything is possible by programming and is encouraged to break limits by learning. We prefer that something takes time to finish than the answer is a can’t, we hate that they make us believe that something cannot be achieved “