A recent comprehensive study found that the two countries most likely to adopt Bitcoin (BitAssets
) are Venezuela and Argentina.
http://www.coindesk.com/argentina-most-likely-adopt-bitcoin/Primary Reason: Highly inflationary local currencies and low accessibility to alternatives.
Those two countries are literally begging and clawing with their fingernails for BitAssets.
What is the opportunity?
Argentina's GDP: $600 Billion+
Venezuala's GDP: $400 Billion+
Total: $1 Trillion +
In Kenya, up to 40% of the GDP flows through M-Pesa
(A mobile phone based money transfer service using cellphone minutes as currency.)
I would say M-Pesa's success is the result of poor banking infrastructure but it does show that even a third works country can adopt a new payment & money system if the need is there and what a significant part of its GDP it can become.Targeting: There are only a handful of Bitcoin exchanges and partners that need to be pitched BitAssets in these countries. Once they understand them I'm sure they'll agree that they are what they're looking for vs. Bitcoin. That's the entry point. I believe BitAssets can spread like wildfire there because that's where the need for them is highest. The potential market size could be very significant too.