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3 Ways Bitcoin Is Promoting Freedom in Latin America - YouTube
Channel: ReasonTV
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in Venezuela's capital city of Caracas a
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hungry mob recently broke into a zoo to
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eat a horse
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one cause of the food crisis is
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government currency controls that make
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it very expensive to buy goods from
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other countries but Venezuelans are
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bypassing these restrictions using the
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internet-based currency Bitcoin and
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there are similar phenomenon in
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neighboring countries Bitcoin is
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catching on especially fast in Latin
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America because it gives individuals
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away around protectionism and other
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destructive government policies here are
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three ways that Bitcoin is promoting
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economic freedom in Latin America
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Bitcoin it's an alternative to using
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government money and I think that's a
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game changer Rodriguez Sousa is a
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us-based entrepreneur who operates sur
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Bitcoin which is an online marketplace
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where Venezuelans buy and sell
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government-issued bolivars for bitcoins
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sir bitcoins monthly trade volume has
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tripled in the last year alone as more
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and more than his Whelan's have started
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using Bitcoin an advantage of Bitcoin is
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that while the government regulates and
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restricts the flow of money in and out
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of the country through the banking
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system bitcoins circumvent the banks
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because it's an internet based currency
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it is not only government nobody
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controls before and now a growing
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community of Venezuelans are using their
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bitcoins to buy food from e-commerce
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sites like Amazon in walmart.com the
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packages are routed to one of a handful
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of miami-based Poirier services and then
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shipped to Venezuela where they're
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delivered to the homes of people trapped
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in this starving nation when the iPhone
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six went on sale in Brazil two years ago
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the price was so absurdly high that it
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became fodder for one of the country's
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most popular late-night talk shows yeah
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primera cosa people said watch fuzzy
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kokujin ly phony says move now see where
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ragazzo i policy league are from Amina
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levar Amina pramana me camara Mina Mir
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meet Rosetta - it says the explanation
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for this high price is that the country
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charges an import tariff on foreign
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goods the runs as high as 60% their idea
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of the Brazil government is like ok so
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we're gonna put the high tax on apple so
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apple can come to Brazil so we can
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generate jobs in Brazil pretty much it
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it kills Brazil but the money is
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collected to the traditional financial
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system today a growing number of
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Brazilians are avoiding the import tax
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by purchasing products like iPhones with
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Bitcoin this way the government simply
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has no way of knowing how much
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Brazilians are spending buying goods
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from abroad Bitcoin is also an effective
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tool for avoiding taxes when moving
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investment capital into Brazil we
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actually work with some venture capital
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funds some private individuals there are
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investors in Brazil and once you bring
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money to Brazil Thiago Caesar is the
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founder and CEO bit one the company
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helps clients get around to 27 and a
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half percent foreign exchange tax when
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bringing money into the country by using
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Bitcoin but circumventing protectionist
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tariffs isn't just for investors average
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Brazilians traveling abroad will find
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that they're automatically hit with a
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six point three eight percent levy every
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time they swipe a debit or credit card
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many have realized if they use a Bitcoin
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credit card from Zappo or a BV cash they
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can escape the tax altogether it's not
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illegal because there are no regulations
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covering that subject in Brazil now
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there is a gap and when there is a gap
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not saying that it is illegal then it's
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not illegal right
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[Music]
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starting a new business in Brazil takes
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about 14 times as long as it does in the
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United States and in the 2016 index of
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economic freedom the country ranked at
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dismal 120 second Brazilian entrepreneur
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Edelson Nazario believes that bitcoin
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can help solve this problem not the
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currency itself but rather the database
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file where transactions are recorded in
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the Bitcoin network that database is
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known as the blockchain and it's a
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computer file with a unique architecture
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that means it can never be altered or
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tampered with writing information to the
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blockchain is like inscribing a message
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in wet cement
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this incorruptible file enthusiasts
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believe has the potential to fill the
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void left by latin america's weak
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government institutions for example in
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Honduras one company's explored moving
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land titles from ancient paper volumes
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to the Bitcoin blockchain where citizens
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of the country can verify that they
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haven't been secretly altered asari au
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has a similar vision for how the
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blockchain can provide the trust that
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sometimes missing from brazil's
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government institutions system over no
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que no la famosa pela sua da da da need
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a key
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yosh key went on potential jews of the
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blockchain o Brasil mi or aleppo Jitsu
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demise a popular song specifically his
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idea is to use the blockchain to disrupt
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Brazil's notorious notary industry which
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is a major source of red tape the
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government requires that Brazilians go
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through a notary office to verify the
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authenticity of documents like birth
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certificates contracts and car titles
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with every business transaction a sarios
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company offers a different method for
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verifying documents that eliminates the
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hassle called original my the website he
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built allows customers to upload
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encrypted representations of their
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important documents to the blockchain
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then at any point in the future it's
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possible to prove a documents
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authenticity by checking it against the
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original and the hope is that this new
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system for establishing trust will
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improve the country's business climate
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you blockchain you think
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poder de trans episode adem谩s
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transparencia reserve poder de volta
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prompt Rasmus de poblaci贸n Ivanova todo
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se scenario G pol铆tica Publica Antigua
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