Bitcoin to the consumer Provider Azteco recently announced a $6 million seed round at a $84 million valuation led by Jack Dorsey where the company offers bitcoin gift cards to boost the spending power of the cryptocurrency near the USD level.
Amid persistent inflationary pressures in the US, many investors look to digital assets as a hedge against a weaker dollar. At the same time, changing views on bitcoin establishes the currency as a player in the US economy.
“My contribution to Azteco comes from a deep respect for their mission. The unbanked population is enormous,” Jack Dorsey he said after announcing the financing.
He added, “We have the technology and resources to bridge that gap, but so far, no one has taken this important next step.” “Azteco is providing much more than access to a secure financial system; it is building an ecosystem of financial self-determination that is secure and supported by local communities. I am honored to be able to support them.”
Also designed to cross geographic boundaries in the retail industry, gift cards or bitcoin vouchers provide personalized storefronts and E-commerce platforms across the globe as access to financial services is democratized and interactions between consumers and retailers are reshaped in an increasingly interconnected digital economy, according to Azteco.
“Trusting a third party as a source of funds can cause that third party to become a single point of failure Federal Reserve And every fiat currency that has ever existed has proven that the urge to cheat is irresistible. By removing this incentive through the issuer and replacing it with a computer program, Bitcoin can manage a politically and financially neutral global synthetic money for people everywhere.”
The US economy was mired in inflation and currency depreciation, which led to a banking crisis and increased investor interest not only in physical wealth such as gold and silver, but also in digital assets such as cryptocurrencies.
Central banks and the Federal Reserve are already discussing implementing a digital dollar. Meanwhile, BlackRock has applied for Bitcoin ETFs With the Securities and Exchange Commission in June.
“The fundamental problem with the US dollar is that its supply is controlled by a small committee of private bankers focused solely on the interests of shareholders. The Constitution of America only considers gold and silver money, which arguably has been done deliberately to remove the inevitable corruption that follows when the people control. in the money supply.
“Bitcoin solves this problem by replacing a committee of men with an infallible computer program.”
Azteco already has more than 590,000 payment locations in more than 190 countries on the ground floor to facilitate development.
In the United States, an estimated 4.5% of households were “unbanked” in 2021 with no access to e-commerce, meaning they couldn’t buy from Amazon, get a bank loan, or send or receive money. Bitcoin fixes that by giving them 24/7 global access to a frictionless financial railroad using guaranteed payer fraud-free instant transactions,” Fernandez said.
He continued, “There are two billion unbanked people on Earth, and the country that becomes the center of this new financial system will collect taxes from two billion people.” “Moving to bitcoin would greatly boost the American economy. America’s most prosperous era was when it was on the gold standard and the money supply was tightly constrained. Strong economies are built on saving, not spending.”