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IOTA To Conquer Latin America, Starting With Venezuela - IOTA News. Wednesday, October 24th

24 october 2018, 11:38 by Jesús S. Affigne

IOTA to conquer Latin America, starting with Venezuela

It could find a contender in Dash for the Caribbean country

Directed Acyclic Graph (DAG) platform IOTA is eyeing the South American Continent as their next big conquest for the mass adoption of Distributed Ledger Technology (DLT) – more specifically, its own cryptocurrency. And they are entering the region through Venezuela.

Their first meeting in Latin American, IOTA Latino, was held in Valencia City, on October 20. This served as an opportunity for the “Internet of Things” DLT to raise awareness about their vision, platform, benefits and possibility of adoption. According to organizers, there was a tremendous affluence of participants and crypto enthusiasts, exceeding their expectations and getting satisfied with the feedback of the audience.

Among the speakers for this first meeting was the president of IOTA Latino, Saul Ameliach, who introduced the public to the basic concepts of the Crypto industry, then began explaining about IOTA, its vision for a decentralized Internet of Thing, the DAG and how it will help connecting the 75 billion devices together by 2025.

As a bonus, via a prerecorded video, the Founder of IOTA Hispano and Co-Founder of XDK2MAM and IOTA Ecosystem Developer, Daniel de Michele, participated in the conference sharing his experience in the crypto space, much to the delight of the people present.

Venezuela, a paradise for cryptocurrency adoption

The fact that the first meeting of IOTA Latino took place in Venezuela is not by mere coincidence –the Caribbean country is known for being one of the most receptive for the cryptocurrencies. This is because of the economic crisis the nation has been suffering from since President of Venezuela Nicolas Maduro rose to power. 

The official currency, the Sovereign Bolivar, has been beaten up by the hyperinflation and the mistrust in its ability to keep its value, so Venezuelan have turned their attention to cryptocurrencies for their many benefits. And while Bitcoin, Ethereum and more recently, Dash, have all become references in the matter for the local people, there is still room for other crypto projects that wish to earn their trust and become a leading DLT project in this country.

Although it hasn’t been specified yet, there is the chance to organize the second meeting again in Venezuela, according to the official website of IOTA Latino.

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