Massive crypto adoption is taking place in Venezuela, and it’s only beggining.

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Massive crypto adoption is taking place in Venezuela, and it’s only beggining.

This project is a gamechanger, and I cannot understate how important it will be.

In the crypto world, usually, a project succeeds if it provides a scalable, real world solution to a problem that only blockchain can solve. Well, what if I told you that this token is the backdoor to possibly the biggest crypto adoption by people you're going to see in your life?

Reserve Protocol, a stablecoin project that aims to beat (hyper)inflation by making a stablecoin backed by more than 50 assets in the future.

Now, here comes the fun part. The makers behind the Reserve Protocol released an app in Venezuela called Reserve. The app allows people to exchange between Bolivares (local currency) and RSV/other cryptocurrencies directly from bank accounts, which is a first in Venezuela.

The app is in closed beta, has +100k downloads and currently you need an invitation to get in. Even with those conditions, the app has managed transaction volumes as high as 3 million dollars a day.

If you are amazed by the volume of localbitcoins in Venezuela, Reserve alone makes a month of localbitcoin transactions in a week. In closed beta, with less than 100k users.

Yesterday, they reached #5 trending topic on Twitter simply because they were giving out invitations. People are so desperate to get in that there's a black market of people buying invitations.

But, you say. how does this matter to me, a person that doesn't live in Venezuela? Well, you can make money from this. The Protocol has a collaterized token, RSR, that is volatile and gets burned to keep the RSV peg stable.

Okay, now comes the real bullish part. The team is completely silent about their progress. They have turned down any marketing, interviews or any of the such because they are busy working on the Reserve Protocol mainnet and the app. But, some days ago, they announced that they will begin to start the full on marketing. Imagine the noise it will cause when the app fully opens and there's talks about a real solution to a problem that only blockchain is solving.

So, to recap, the catalysts for an RSR explosion in the next 3-5 months are:

  • Mainnet, to release this year
  • Marketing, to begin in august
  • Potential Coinbase listing due to Coinbase Ventures backing
  • Release of fully-open app
  • Arbitraging RSV/RSR will always have high volume because RSV isn't catered to crypto speculators, thus a bear market wouldn't affect profits

Potential RSR catalysts in the long run:

  • RSV growing to be the biggest stablecoin by market cap due to the untapped crypto-normie public
  • The app fully opening globally to everyone
  • Integration and collaborations with PayPal and other fintechs
  • Arbitrage profits get better every day due to RSR being burned and RSV growing
  • Grayscale adding RSR to their portfolio

So, not only this works as a gateway to crypto (the app allows you to exchange various tokens to RSV/local currency and viceversa) but this could also REALLY solve the remittances market. What do you think? I'm from Venezuela and I can honestly say this is a fucking game changer. I cannot possibly be more bullish on RSR, Reserve and crypto as a whole.

submitted by /u/AlexxLopaztico02
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