Latin America is ready for crypto - just integrate it with their payment systems

Brazil is already the world leader in cryptocurrency adoption. Integrating crypto with payment providers in the region is a surefire way to see Latin America fully embrace the industry.

Thriving on the exploitation of user data, Web2 monopolies such as Facebook and Google have ushered in an era of massive Internet centralization in recent years. This concentration of power has enabled huge shares of closed communication and commerce platforms, giving users little control over how their data is collected.

An emerging concept, Web3, will provide a way to move from centralization to an open source Internet. A recent report by Andreessen Horowitz (a16z) revealed that this new digital economy could grow to an incredible one billion users by 2031. If executed correctly, the decentralized internet will allow users to take control of their data and content.

While Web3 promises to radically change the Internet and its ability to bring value to users around the world, major hurdles must be overcome before it can achieve mass adoption.

Related: Brazilian proposal would make crypto payments legal and protect private keys

One of the biggest barriers to mass adoption is the lack of local payments integration that many Web3 projects suffer from. For example, a global Web3 project based in Germany probably doesn't understand or offer the payment options preferred by people living in Brazil. Although it sounds cumbersome, accepting local payment options familiar to customers in their respective regions is a strategic decision that can have a huge impact on capturing market share.

Let's see how Web3 projects...