BitcoinLatina – The Bitcoin of Latin America with Smart Contracts

BitcoinLatina (BCL) is the latest cryptocurrency being introduced to the markets. What makes this one different from the hundreds of others that have been launched so far?

What is BitcoinLatina?

BitcoinLatina is positioning itself as the Bitcoin of Latin America. Technically, it is a fork of the incredibly popular Ethereum blockchain. This would mean that BitcoinLatina would not only have the security, stability and minability of the Ethereum platform, but also all the powerful features already built into Ethereum, such as smart contracts. As per their website, the thought behind creating a Latin America-specific blockchain is “to create jobs and prosperity while helping the people of Latin America learn about and experience the benefits of blockchain efficiencies”.

Why Was This Needed?

The BitcoinLatina Foundation recognized the need for building a local, community-driven approach to building blockchain-based applications for the emerging markets in Latin America. The Foundation has stated goals of wanting to create a positive social impact, by helping entrepreneurs create decentralized applications across multiple industries. The smart contract technology built into BitcoinLatina will enable the creation of apps and services which benefit consumers, businesses, educational institutions as well as the government.

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The Latin American population is more likely to access the internet through their mobile devices than through a computer. The Foundation is therefore focusing on mobile-based solutions with a quick adoption rate and a short learning curve. With a focus on Latin America, BitcoinLatina is probably the only blockchain with support in Spanish, Portuguese and English. The Foundation also plans on organizing annual conferences (including the BitcoinLatina Convention), hackathons and other support across Latin America.

Who Gets The BCL Tokens And How?

The BitcoinLatina website states that 1 billion BCL coins will be created in the genesis block. An incredible 50% of these will be “airdropped” to miners, crypto enthusiasts and students across Latin America. The airdrop will be done via SMS and email invitations to millions of people beginning this month. The remaining 50% will be distributed as follows:

  • Entrepreneurial Grants – 20%
  • Foundation Treasury – 10%
  • Genesis Team – 10%
  • South American Team – 6.5%
  • North American Team – 2.5%
Related:   Spain considers tax breaks for Blockchain and Cryptocurrency Startups (Spain Cryptocurrency Regulations)

Beginning Of The Blockchain Revolution In Latin America?

While the blockchain revolution seems to be underway in Europe, Asia and North America, Latin America seems to still be playing catch up. It remains to be seen if the introduction of BitcoinLatina jumpstarts the revolution there. However, given the lofty stated goals of the BitcoinLatina Foundation, this project definitely seems to have the potential to bring about a monumental positive impact to the lives of ordinary Latin Americans.

Further Information can be obtained at :

bitcoinlatina.org

Legal Disclaimer: Smartereum does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice. Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Smartereum or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Smartereum makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of cryptocurrency.
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About the author

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Adam Web

Adam Webb is editor in Smartereum, blockchain and currency news, where he produces updates on Blockchain, Ethereum and other alternative cryptocurrencies.

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