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Seems a bit early to say it has “utterly failed.” Especially when Colombia is consistently the 2nd most active trading country in LatAm. And As Banco De Bogota is piloting crypto programs https://www.portafolio.co/economia/finanzas/banco-de-bogota-...

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Not saying crypto has failed in all aspects, just in the use case talked about in the blog post. I don't see crypto competing with e.g. Nequi any time soon.

The project you mentioned is interesting, but I see it as something much more for the middle and upper classes. I know plenty of crypto enthusiast in those circles.

I tried Buda, which is mentioned in the article as partner. It has been the most tedious experience with a "financial" product I had in my whole life.

Utterly means “completely and without qualification; absolutely.”

You can completely fail in one thing, and succeed in another. Crypto people have moved the goalpost of what it is supposed to be useful for a lot over the years. Which is fine. Doesn't mean it has completely failed to deliver on some of them so far and the market has been taken over by others.

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