 | A small background of Argentina: they have been gripped with high inflation for years now with a rapidly weakening currency. Their current inflation rate around 114% and interest rates are set at 97%, which still hasn’t solved issues. They have been to the IMF for bailout after bailout and have actually set a number of records in their use of the IMF. Tether has partnered with KriptonMarket to enable stablecoin purchases in the Central Market of Buenos Aires(Mercado Centro de Buenos Aires). As in the name, the government-run Central Market is a market of food items produced from crop production areas across the country. Not only are there produce of fruits and vegetables but also meats, nuts, grains, meals and common delicacies as well as more miscellaneous sellers on the outskirts like phone sellers ,flowers, spices and trinkets etc. The Central Market of Buenos Aires has its own laboratories for bromatology, microbiology, phytopathology, and fishery products. The Market is estimated to serve 12 million people(likely an underestimate), more than 500 wholesale companies and process 1,400,000 tons of fruit and vegetable species annually. KryptonMarket functions essentially as on on/off ramp and trading platform for crypto and allows citizens to escape the inflationary spiral and crisis of the local currency by investing in crypto and their deal with the Market also makes citizens able to functionally spend that crypto directly on essentials. Workers at the market may also receive a portion of their wages in crypto. [link] [comments] |
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