Argentina’s Central Bank’s Interesting In “Mastering Bitcoin” Growing As Peso Is Depreciated By Rising Inflation
Argentina is currently facing a big economic crisis as the country’s national fiat currency, the Peso, has hit a record low price against the USD and the inflation in the country is rising a lot recently. Not only people, but also the institutions of the country are showing interest in the crypto market as a way to keep these problems away.
Now, the Central Bank of Argentina has documented a request for a list of books about Bitcoin. One of them is a guide called “Mastering Bitcoin: Programming the Open Blockchain 2nd Edition” by Andreas Antonopoulos.
Bitcoin As An Alternative During A Time Of High Inflation
The report (in Spanish) released by the Central Bank of Argentine Republic (Banco Central de la República Argentina, BCRA) shows that the country is definitely enthusiastic about Bitcoin and looking forward to use it as a way to fight the financial crisis that the country is currently facing.
The document, which is dated June 13, lists books which are being requested by the Argentine bank. In total, there are 42 books that are focused on the understanding of cryptocurrencies and the blockchain technology.
Among them, the book by Antonopoulous cited before, “Blockchain Basics A Non-Technical Introduction in 25 steps” by Daniel Drescher and “Blockchain: Blueprint for a new economy” by Alexander Preukschat.
Most of the 42 books are focused on how to learn about blockchain technology and the intricacies of how Bitcoin and other tokens work. Most of them are either based on the technology and the financial effects of the cryptos.
While most Central Banks in the world, including Latin America, range from concerned to openly hostile to cryptocurrencies, Argentina’s Central Bank is surely more open to the technology, possibly because the executives of the bank see it as a way to prevent the high inflation of the country from getting completely out of hand.
Between Blockchain And Inflation
The bank has surveyed 52 different analysts and the future of the Argentine economy is dire, according to them. While the predicted inflation for the year has raised from 22% to 27%, the economic growth was lowered from 2.5% to 1.3%. This combination of low growth with high inflation will be awful for the country if a solution is not found fast.
Argentina has the highest inflation rate of Latin America and the dollar has hit record low prices recently, which is why the country is betting so much in the power of Bitcoin. While it looks like the government does not know how to actually use the blockchain to help the economy yet, that is certainly the goal.
In a recent study about the potential of the blockchain technology, 178 countries were surveyed and Argentina had the higher score in the Bitcoin Market Potential Index (BMPI) so it is looking that if the blockchain revolution is going to happen somewhere, it will be in Argentina.