These two statements in the same post are at the heart of the problem of crypto:

1. “In addition to the perceived hedge against government meddling and inflation, crypto is also poised to help simplify some of Latin America’s currency confusion.”

2. “Crypto adoption in Latin America is growing not because of techie anarchists or new-age economists, it’s growing because of individuals actively making an effort to educate and enable their neighbors to fight for their own financial freedom. And that’s something we might be able to learn from.”

There is a huge difference between objectives and results of “government meddling” in a relatively clean western liberal democracy and all other alternatives. “Government meddling” is exactly the problem all the techie anarchists and new-age economists have as their boogie man, regardless of political and economic system or level of corruption.

“Financial freedom” for whom? When you’re referring to corrupt autocracies, plutocracies, pseudo-democratic countries, the answer is: the elites. This combines insiders in the ruling group and those with pre-existing means. The “regular folks” have little to no part in this. Those with access to natural resources, valuable minerals/metals, valuable wildlife, etc. are the biggest beneficiaries of crypto. The net result: an entrenched class ruling the country with none of the downsides of corruption and autocracy and a perpetuation or worsening of conditions for the vast majority of people.