Adoption of neobanks in emerging countries

Here in brazil, one of the few things that really work is ‘PIX’. The experience is very good and made the adoption of PIX for payments extremely fast. On the one hand it’s very good and has already changed the reality of many businesses in the country. However, we still don’t know how this convenience and ease of traditional systems, can influence the adoption of stablecoins solutions in the country.

Possible Solutions for Adoption

A possible solution that could bring greater adoption appears to be Plasma with Plasma One (and other Crypto’s Neobank solutions). Inevitably, with the increasing use of PIX in businesses and in people’s lives, “dependence” on this system will increase.

When the time comes, we will certainly see authorities attempting to tax transactions (something already discussed), as well as much greater control by them. Lack of privacy, abusive fees, and even future user restrictions in the system will lead people to seek decentralization at some point.

Banking the unbanked

In addition to the privacy and tax issue, Crypto Neobanks like Plasma One, can indirectly help these people escape from the local currency here (BRL), making these people have a dollar reserve much simpler and faster. This not only protects users, but also helps unbanked people; removing barriers for small entrepreneurs and even informal workers, making them have ways to receive payments, save money and even have access to invest their money later.

Of course, it’s still early for these tools to gain big adoption, since the PIX is still constantly growing; but it’s good to realize that we have a very promising future, both to escape excesses of power, and to give access to banking for more and more people in the world.