Omega Management logo

Blockchain in Colombia: Equalizing Economic Force?

Latin America is one of the leading regions the world in ownership of NFTs (Non Fungible Tokens) and many of the innovators of this movement are women. NFTs are attractive for many in Latin America because they are seen as affordable investments that provide utilities to their owners while hedging against inflation and volatile market conditions.

And Colombia provides a prime example of this new economic direction.

“Blockchain and cryptocurrencies have been seen as an alternative to protecting wealth,” said Economist Carolina Cifuentes. “Latin American economies see their local fiat currencies depreciate at a faster rate than anywhere else in the world. We’ve seen this in Argentina, Venezuela, and Colombia.”

“It is estimated that more than 3 million people in Colombia own cryptocurrencies. It is likely that this figure is underestimated since a large amount of these transactions can be anonymous,” said Cifuentes….

Read more…