A US based pizza chain has started accepting crypto currency as a payment method across South American nations. Burger king and Church's chicken already accepting crypto currency as a payment.
"Pizza hut nowadays cannot be detached from these technological advances and all those incorporating new approaches for daily necessities," said Richard Elkhouri, general director for venezuelan operations of pizza chain.
More than 20,000 shops around South America have been accepting crypto
So, What you guys think the government will do if people started using crypto for buying selling on a large scale as the control of system of monetary fund is going out of the hands of government.
South America is really a mixed bag when it comes to the potential of bitcoin in that part of the world. It is the motherland to almost every kind of ill that bitcoin is blamed for concealing. Drugs, trafficking, extortion and such. Then there is the situation where multiple countries have namesake governments with local cartels and millitia having power over the lives of people. It must be terribly hard to secure an honest living in these conditions. I recently watched on Netflix that how the Avocado farms ended up becoming cartel controlled in countries like Chile and Mexico. That kind of sums up the pitfalls in earning an honest living in these countries.
If bitcoin allows these people to have some control over their own personal lives and wealth, i don't think governments will be too unhappy about it. There is particularly nothing to worry about for the chain owners like Pizza hut and others because governments already get their share via indirect taxes when people spend money.