OBC’s Brazio undergoes first halving as Brazilians take more interest in crypto

Just as the crypto world was talking about the recent Bitcoin halving, Online Blockchain’s (OBC) Brazil coin cryptocurrency underwent its first halving on May 13th. According to London’s’ Blockchain guru, Clem Chambers, CEO of OBC, miners of Brazio will see their block reward reduced from 200 BRAZ to 100 BRAZ.

Chambers said, “This is a coming of age moment for Brazio and we are excited by both the currency’s development and popularity, Brazio’s excellent security, fast transactions and decentralised governance is a compelling proposition in Latin America, a region which is seeing a continued rise in cryptocurrency adoption.”

There are currently 83 million Brazio coins in existence. Allocation is tightly capped at 210 million BRAZ. It is also expected that the lower supply, along with a growing demand, will boost the coin’s value. Brazio’s next halving is expected to happen in approximately two years.

The coin is a secure digital currency developed by London listed Online Blockchain (LON:OBC) in partnership with ADVFN Brazil to provide the people of Brazil a doorway into the cryptocurrency revolution. Brazio trades on the SouthXchange.

Users can also get Brazio for free from FreeFaucet.io, OBC’s hub for cryptocurrencies faucets where users can mine and cash cryptocurrencies for free.

Brazil has the largest internet market in Latin America, accounting for nearly 140 million users in 2016. Digital adoption along with an interest in crypto currencies has been growing steadily over the last few years. Binance, the largest crypto exchange in the world, saw an increase of 16% from Brazilian users in Q1 2020 than in Q4 2019.

Mayra Siqueira, from Binance Brazil added that because of political instability in Brazil, cryptocurrencies pose an opportunity: “We’re not seeing international investment coming to Brazil any time soon because we’re politically unstable. We’re going to see more crypto adoption because of that.”

There are around 60 crypto exchanges now operating in Brazil today.

Crypto currencies provide an attractive option for financially excluded Brazilians. They offer innovative alternatives for banking services, which are highly concentrated. Around 78% of all deposits in Brazil are made to five financial conglomerates. Digital currencies challenge the hegemony of the major banks, providing users with quicker transactions, lower costs and more accessibility. Alternative payment methods also mean more freedom and control over personal finances.

Brazio offers the robust features of a secure blockchain and can be mined by anyone with a computer.

A report from the World Bank on financial inclusion shows that by 2014, only 54 percent of the adult population in Latin America had an account at a financial institution. In developed economies, 94 percent of adults have an account at a financial institution.

Online Blockchain (LSE: OBC) has also developed Buenos, a cryptocurrency ecosystem targeted at the people of neighbouring Argentina. The company sees huge opportunity for digital currencies in developing countries where the financial system is less stable and people, particularly the young population, are more open to adopt digital financial services.

“Emerging markets have always had a problem with their financial infrastructure. Cryptocurrencies and the Blockchain give emerging economies a chance to leapfrog the legacy issues and opportunity to steal a march on G7 countries forever hijacked by their bankers,” says Clem Chambers.

Brazil is one of the largest markets for ADVFN, OBC’s sister company, and has an exciting audience keen and eager to seek alternative financial services and investment tools.

Online Blockchain plc (LSE: OBC) is a UK-based incubator and developer of businesses in internet and information-based technologies, including developers, administrators, as well as custodians of blockchains and crypto currencies. Focusing operations on building ‘the new generation of blockchain’. OBC continues to consider new related opportunities, particularly crypto currencies, and blockchain-based opportunities. Led by a CEO and team with over two decades of pioneering in tech. Online Blockchain focuses on innovation in crypto currency and decentralised ecosystems via various applications of blockchain: incubating crypto currency start-ups and developing technical innovation in the blockchain space.


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Brazil warms up to crypto: Institutional investors welcome the crypto market as the population…

Brazil warms up to crypto: Institutional investors welcome the crypto market as the population wakes up to blockchain’s potential

Institutional investors in one of the Americas’ largest economies are signalling solid moves to incorporate cryptocurrencies into their agendas, as Brazil becomes fertile ground for crypto. In a country with much inequality but significant potential for growth, digital currencies have double the appeal for its heterogeneous population: an investment for the middle class, and a gateway into the financial ecosystem for the unbanked or those of lower socio-economic status.

Grupo XP, the largest independent brokerage in Brazil, launched on its cryptocurrency exchange Xdex for Bitcoin and Ethereum on Tuesday 9th. XP has grown over the last few years by targeting Brazil’s middle class with offers of online investment platforms.

CEO Guilherme Benchimol has recognised the need to incorporate cryptocurrencies to the firm’s trade, saying they felt ‘obligated to start advancing in this market’, as he highlighted that around 3 million Brazilians have exposure to Bitcoin, providing a huge opportunity compared with the figure of around 600,000 that invest in stock.

Despite reluctance from the conservative banking sector in Brazil, the crypto frenzy is indeed gaining traction in the country thanks to its ability to offer individuals empowerment over their own finances. More than just a form of investment, cryptocurrencies pose feasible alternatives to the lower classes in Brazil who are financially excluded from the banking system.

Developing economies across the globe still present high rates of financial exclusion and interest rates, a gap which has been addressed by fintech companies that are deploying blockchain to create a more inclusive financial system, challenging the way traditional banking works.

Leading UK blockchain company Online Blockchain plc (OBC) is launching multiple tokens in Latin American and Asian emerging markets as part of their strategy of exploring the cryptocurrency potential in such markets. Over the first half of 2018, Online Blockchain launched Buenos coin in Argentina, Brazio in Brazil and Manila Coin in the Philippines.

CEO of Online Blockchain, Clem Chambers, highlighted the opportunity for tech companies to create a revolution: “OBC is applying the tried and true strategy of thinking globally but acting locally. We are looking at different opportunities for crypto projects locally where we see a need and a community to serve, such as the Philippines and South America.

Emerging markets have always had challenges with their financial infrastructures. South America has 40% less banking per head than Europe and even advanced Brazil has 20% less banking per head than Europe and the US. Cryptocurrencies and blockchain can give emerging economies a chance to leapfrog the legacy issues and the opportunity to steal a march on G7 countries forever hijacked by their bankers,” Chambers added.

OBC’s Brazilian coin, launched in May, is now listing on SouthXchange, bringing cryptocurrencies one step closer to being considered mainstream in South America’s emerging economies. Brazio was designed to enable the people of Brazil to create their own financial infrastructure with a fair, self-governing, decentralised network.

The company hopes that Brazio will be “an exemplar for the standards by which cryptocurrencies are implemented for the good of developing and unbanked countries.“

“Brazio employs all of the robust features of the bitcoin blockchain, such as excellent security, fast transactions and decentralised governance, but has been customised and improved with the interests of the Brazilian people and economy in mind,” said Oscar Chambers, Lead Developer of Brazio.