With Financial Uncertainty and Unrest in Chile, Bitcoiners Build Community

As protests have turned to civil insurrection in the South American Republic of Chile. The relatively new Bitcoin space in the nation has been rising to meet the occasion.

At the latest count, 27 people have died in these confrontations between citizens and the government. The Chilean president, Sebastián Piñera, has announced that he will capitulate to one of the protesters’ key demands.

Chile, A Country Under Protest.

ONG Bitcoin Chile is an organization dedicated to the education of decentralized technologies in the country.  Bitcoin Magazine spoke with its vice president, Jazmin Jorquera, about the situation on the ground.

“The final spark was the public transportation tariff increase, 30 Chilean pesos ” Jorquera explained.

The increase in fares, coupled with government statements betraying ignorance over the daily costs incurred by many Chileans. It has led to a climate in which citizens do not feel confident in their financial futures.

“The problem was that during the last months, many of the ministers of the actual government gave completely arrogant and irreverent statements. Such as: ‘Get up earlier’ or ‘the flowers are cheap,’ in reference to the price increase in consumer goods,” Jorquera said. 

The region of Latin America has shown strong interest and propensity for decentralized, digital currencies like bitcoin. Manuel (Manu) Beaudroit is one of the founders and the chief marketing officer of Bitex the most-used in Latin America.

“The unrest has impacted Chile by making people in many cases lose their jobs and companies to stop any investment project,” said Beaudroit. “In our case, we saw a 44 percent increase in visits from Chileans since the unrest started.”

He also noted that an influx of people moving to the country has been a significant factor in its adoption of bitcoin.