Former Argentina president calls ETH most innovative tech https://ift.tt/3mhXupF

TL;DR Breakdown

• Mauricio Macri calls ETH the most innovative technology in the 21st century.
• Argentina, one of the countries with highest crypto adoption rate.

The former president of Argentina, Mauricio Macri, has called Ethereum the second-largest blockchain network and its currency, Ether it the innovation of the century.

He said this after he had a meeting with the co-founder of Ethereum, Vitalik Buterin. The former president, who was full of praises of the blockchain, noted that Ethereum was “one of the most innovative decentralized technologies” in the 21st century.

“Fascinating encounter with Vitalik Buterin, creator of Ethereum, one of the most innovative decentralized technologies of our century. Its Ether currency is one of the best value in the world. We chat about the role of crypto and blockchain opportunities for states,” he wrote.

Macri also recognized the native currency of Ethereum, Ether, as one of the most valued in the world. The ex-president revealed that much of their discussion was around the role that cryptocurrencies and blockchain technology could play for governments.

It is worth noting that the meeting between Buterin and Macri was unplanned as the Ethereum developer arrived in Argentina as part of his vacation tour of Latin America.

Cryptocurrencies in Argentina

According to a Chainalysis report, Argentina is one of the countries leading in crypto adoption, thanks to its dwindling economy and devalued currency.

The increasing adoption of crypto in the country is also due to the increasing inflation rates. Bloomberg recently reported that the country’s inflation rate had spiraled over 50 percent.

Argentina has plans to allow cryptocurrency futures trading on its regulated exchanges. Currently, cryptocurrencies are legal in the country but still lack clearly defined regulations related to issuance, exchange, and general use.

ETH, the number one alternative currency price, declined over the weekend and has continued to decline starting the week in the red region.