The founders in Argentina launched the 'Crecimiento' project to promote adoption and provide crypto solutions to economic problems.

In Buenos Aires, several of Argentina's cryptocurrency founders are uniting to promote pro-crypto policies in the capital. The project brings together major players in the domestic cryptocurrency industry, who hope to take advantage of the new government of Bitcoin supporter Javier Milei, who won the presidential election in November and took office in December.

The core objectives of the 'Crecimiento' project

According to the official announcement on Substack, the 'Crecimiento' project aims to achieve three core goals.

First, the project plans to attract 5 million to 10 million new users to the blockchain ecosystem through a variety of on-chain startups and products.

Secondly, the goal of the project is to expand the scale of Argentina’s technology startup ecosystem tenfold and promote its development to higher quality by providing more financial support and improving infrastructure. Through these measures, the team hopes to achieve significant expansion and improvement of the technology startup ecosystem.

The group has received support and contributions from key stakeholders including Elian Alvarez (General Partner at Ripio Ventures), Marcelo Cvazzoli (Co-founder and CEO of Lemon Cash), and Diego Guitérrez (Co-founder of Bitcoin layer 2 platform Rootstock).

The third goal is related to the government. The team hopes to collaborate with the government to promote a new regulatory system that is conducive to the stable development of start-ups. It is expected that this framework will provide a stable growth environment for start-ups for more than 20 years.

Crecimiento has gathered more than 550 contributors so far, who are praised by the project team as visionaries and dreamers. Among these contributors are many well-known organizations and institutions such as Ethereum, Decentraland, Bitfarms, Bitso, Beefy.Finance, and Stanford Blockchain. $BTC

Improving the economic well-being of Argentine citizens through cryptocurrency

The project also holds the vision of alleviating Argentina's economic problems. According to 'Crecimiento', Argentina is facing a staggering inflation rate of more than 211%, which will be particularly severe by the end of 2023, leading to a surge in national debt, a decline in economic confidence, and rising poverty and unemployment. The panelists believe that Milei's election as president is a "clear signal" of public dissatisfaction with the status quo, and pointed out that domestic cryptocurrency adoption is expanding as the public's interest in cryptocurrencies grows.

The blog post emphasizes that cryptocurrencies provide a solid foundation for innovation in the economic and financial sectors. Cryptocurrencies enable the development and deployment of new currencies, contracts, and credit systems that have the ability to circumvent the barriers of traditional financial institutions. In a context of economic turmoil like Argentina, the ability to create new tools and solutions enabled by this technology is particularly valuable.

According to Lemon founder and CEO Marcelo ‘Chelo’ Cavazzoli, the ‘Crecimiento’ project is a groundbreaking effort to bring together the entire cryptocurrency industry in Argentina. The project’s shared vision is to make Argentina a leading cryptocurrency hub and a trusted model for innovation and prosperity.

Last year, after Milei won the primary election, the price of Bitcoin (BTC) in Argentina rose by 21%, from 8.4 million ARS (Argentine pesos) to 10.2 million ARS. A few months later, the new government removed the taxation of cryptocurrencies from the omnibus bill submitted to Congress. According to the Law on the Foundations and Starting Points of Argentine Liberties, citizens can now declare cryptocurrencies and other assets that were previously untaxed.

According to the bill, starting from January this year, the first declared cryptocurrency will be tax-free if its value does not exceed $100,000. For the part exceeding this amount, citizens only need to pay a maximum tax of 15%.

Conclusion

In Argentina, the 'Crecimiento' project is not only an attempt at technological innovation, but also a practice of social and economic reform. By integrating domestic and foreign resources and forces, the project not only promotes the popularization and application of blockchain technology, but also opens up a new path for Argentina's economic development.

Against the backdrop of global economic instability, Argentina is trying to solve long-term economic problems through this innovative approach, demonstrating hope and determination for the future.

With the support of government policies and the deepening of international cooperation, the 'Crecimiento' project is expected to transform Argentina into an important center for global cryptocurrency and blockchain technology, bringing sustained economic vitality and international influence to the country. #阿根廷 #加密货币 #经济转型