foreign
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we're here to talk about understanding
Latin Americans and to design a local
flavor D5 platform
so the question straight to the point is
how do we understand Latin Americans and
this is not a global question it's more
local question but we use a unique
method in our team a model we created
yes to understand all that we can with
uh in-depth research and also combining
with a community model so what we do is
basically we try to engage
we try to educate and we evolve with our
users but not they are not only users
they are contributors so we created a
two-level community one part of the
community
are the global community and then we
have the Community Builders why
well we want to create long-term
relationships and we don't we want to
engage with our users we want to to
create value together to co-create value
and grow in together in a long-term
process to to have a better product and
to have uh contributors all along this
this way
so
applying this model
we we learned a lot of things we brought
here five main learnings
and we will buy one by one
so the first insight
the first Insight is that convenience
it's
decentralization for breakfast what does
it mean
well basically users normal users
average users don't understand
decentralization at the beginning so
it's a gradual process and we need to
help them to educate them and especially
to have decentralization as an invisible
concept so we we cannot ask our users
just to have a ux or an experience that
is so complicated for them that they
will give up in the beginning
then as Latin Americans we kill four
dollars
dollars are our store of value for the
future and local currency is the enemy
and most of you probably know it so
we need to also adapt to current mental
models so in the crypto ecosystem if you
have a platform probably you have
several stable coins but this is a
non-existing mental model
Uh current users they will think there
is only one dollar so we need to adapt
to these existing models just to provide
them a better experience
if we're talking about savings
we think well
it's it's good a day our users our
contributors will learn
about web3 but first we need to teach
them how to save
this sounds obvious but it is not most
of them in Latin America in general is
difficult to save it's not a common
Habit to save and
if you don't choose the right path if
you don't know how to apply certain
methods to save if you don't have the
tools to do it you will have that you
you will open the door of abusive loans
which is a vicious circle that it's very
very difficult to accept
so
some of our users we understood that
it's very important not only to help
them save but also to educate them to
get out of this visual Circle
if we talk about loans that's how I was
doing it
um first loans are hard to get in Latin
America and harder
to to pay
and we have high interest rates we have
a big barrier that is the credit history
but especially
I would like to to focus on conscious
decisions so if we have the urgency to
get a loan that's a bad situation there
is no negotiation and probably we will
get into this vicious circle that I
mentioned before so
we need to educate our users in our
platforms to make conscious decisions we
need to provide them the right
information to understand the
consequences of their decisions because
we are talking about financial products
we are talking about money and probably
the well-being of families
finally
our last insight
is that trust is careful Source in Latin
America
so scams are frequent not only in crypto
but also in any Financial Service and
it's very very complicated to
differentiate between uh proper service
and scam
then in general governments don't
protect us and people don't trust
governments so it's also a big barrier
and Banks take the advantage of its
privileged position so this it's a
combination of factors which makes
everything very particular and
especially difficult
so with all these that I've explained
we believe we are working we are
building Tropicals that is the platform
to to create better personal finances
using web web3 and in Latin America
and just as a friendly reminder
we are not here for the technology we
are here for the impact
gracias
what in your opinion are the top three
low-hanging fruits what we can do as
Kanaya people involved in the crypto
ecosystem to Foster crypto adoption and
education here in Latin America
that's a good question
um
so I think that the first part is as we
said it's education right so we need to
educate in in the tools and especially
try to differentiate from scams which is
a big problem because this there's many
people is not trusting crypto they don't
have their technical knowledge they
don't have the the whole context so
education I think it's the the main
the main tool and
[Music]
yeah for example in in tropicus we would
definitely believe that we need to use
certain standards that are used in web 2
to bring to web3 so if we use a web to
login without all the seed phrase or
this kind of technicalities it will help
a lot
to the average people to understand
these kind of platforms