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https://archive.devcon.org/archive/watch/6/machismo-remittence-and-inflation-scaling-ethereum-for-widespread-adoption-in-latam/
According to Gemini's 2022 Global State of Crypto Report, women in developing countries lead in the adoption of crypto among women. Particularly, women in Latina America lead in crypto ownership when compared to other regions, with 43% of crypto holders being women. We'll take a real world lens to the reality of LATAM and the need to scale Ethereum, the status of L2s, emerging modular blockchains, and how they all fit into the end goal of getting Ethereum transactions into fractions of cents.
Speaker(s): Camila Garzon
Skill level: Intermediate
Track: Opportunity & Global Impact
Keywords: L2s,community,latam
Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum
Learn more about devcon: https://www.devcon.org/
Learn more about ethereum: https://ethereum.org/
Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
Devcon 6 was held in Bogotá, Colombia on Oct 11 - 14, 2022.
Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/
A
Thank
you,
hey
everybody.
My
name
is
Camila
Ramos.
This
talk
is
super
important
and
amazing
to
me,
because
when
I'm
Colombian
I
was
born
in
Bogota,
my
family
is
Colombian.
We
can
go
through
a
whole
journey
of
what
this
means
to
me
to
be
back
in
my
home
country.
Talking
to
you
guys,
but
the
one
request
I
have
is:
can
someone
take
cute
pictures
of
me
so
I
can
send
it
to
my
mom
and
tell
her
that
I
spoke
in
Colombia.
A
Thank
you,
okay
cool!
So
today
we're
gonna
speedrun
this,
because
there's
so
much
to
talk
about
and
I
only
have
11
minutes.
So
we're
gonna
talk
about
machismo,
inflation,
remittance
scaling
ethereum
for
widespread
adoption
in
Latin
America.
What
does
it
mean
from
a
technical
level?
What
does
it
mean
on
a
cultural
level
and
how
do
we
get
there?
So,
let's
start
with
where
we
are
today,
I
had
to
pull
this
out
from
back
when
I
worked
in
product
at
Sony.
We
had
this
grid
that
helped
us
understand
a
product
that
we
were
building.
A
It's
why
we've
kind
of
devolved
to
crypto
dick
buds
in
a
thousand
percent
apy.
It's
because,
like
we're,
trying
really
hard
to
find
a
use
case
for
it,
and
we
just
can't
seem
to
find
something
that
we
can
solve,
and
this
doesn't
go
without
saying,
like
obviously,
I
deeply
respect.
Everyone
working
in
the
space
I
know
we're
all
worth
working
towards
getting
to
this
point,
but
this
is
just
the
reality
of
where
we
are
now.
How
do
we
get
to
this
quadrant?
Where
we're
solving
a
big
problem
for
a
lot
of
people?
A
A
How
do
we
find
communities
that
have
problems
that
we
can
solve
and
we
can
take
crypto
for
what
it
is
at
the
very
base
level,
which
is
new
infrastructure
for
a
payment
system
and
enable
Innovative
use
case
that
will
actually
drive
adoption
and
the
place
that
I'm
going
with
this?
Is
we
have
to
go
where
there's
necessity
in
the
global
West
in
Europe
and
North
America?
We
don't
have
much
of
a
necessity,
we're
relatively
doing
pretty
well
right.
We
all
have
access
to
Banks.
We
all
can
get.
A
You
know
access
to
all
the
different
financial
services
that
we
want,
and
even
for
those
who
might
not
necessarily
have
access.
We
have
a
wide
breadth
of
different
Neo
bank
and
non-bank
applications
that
let
people
still
access
these
Financial
Services.
Now,
besides
going
to
where
there's
a
problem,
we
also
need
to
address
on
the
technical
level
what
needs
to
be
solved
which
is
scalability
and
more
secure
applications.
A
In
the
last,
what
six
months
year
there's
been
like
billions
of
dollars
worth
of
hacks,
and
the
truth
is
that
when
you're
dealing
with
a
community
like
Latin
America,
which
I'm
going
to
make
the
case
for
for
why,
we
should
turn
our
attention
and
capital
to
Latin
America,
specifically
you're
dealing
with
a
community.
That's
a
lot
more
price
sensitive
than
the
West
right.
They
have
an
average
monthly
income
of
500
a
month.
You
can't
afford
to
lose
even
a
hundred
dollars
in
a
hack.
A
You
can't
even
afford
at
this
point
to
spend
ten
dollars
on
a
gas
transaction.
It's
just
not
realistic.
That's
like
two
lunches
right,
so
I'm
gonna
make
the
case
for
Latin
America,
real,
quick,
so
consumers
in
Latin,
America,
actually
I
think
are
the
best
place
to
start
because
they
already
exhibit
behaviors
that
make
them
really
ripe
for
adoption
of
crypto
and
those
are
mobile.
First,
digital
payments.
If
you
guys
live
in
Latin
America,
if
you
live
in
Colombia,
you
know
that
a
lot
of
financial
services
are
mobile.
A
If
you
guys
are
from
Latin
America
and
you
live
in
the
United,
States
or
Europe,
you
know
it's
not
uncommon
for
you
to
send
money
back
home
and
it's
done
via
remittance
growing
political
and
socioeconomic
instability
and
social
pressure.
So
we're
going
to
talk
about
all
of
these
in
the
next
seven
minutes,
so
I'm
not
going
to
read
all
these,
but
just
so
you
guys
can
kind
of
maybe
take
a
picture.
Take
a
mental
screenshot.
This
is
what
the
numbers
looks
like
for
adoption
of
online
Neo
bank
and
non-bank.
A
So,
basically,
a
vast
majority
of
people
in
this
survey
that
was
created
by
rapid,
which
is
all
linked
at
the
end
sources
cited.
A
lot
of
people
are
already
operating
outside
of
the
bounce
90
plus
percent
of
Mexicans
Brazilians
87
of
Colombians
84
of
argentinians
regularly
use
applications
such
as
PayPal
model
and
mercado
heavy
Reliance
on
remittance.
So
again,
this
is
back
to
the
cross-border
thing
and,
according
to
data
from
the
World
Bank
remittance
flows
to
Latin
America
and
the
Caribbean
reached
131
billion
dollars.
A
This
is
something
that
crypto
is
such
a
good
use
case
for
right,
like
there's,
lower
fees,
there's
higher
security,
it's
faster
operational
speed.
So
this
is
just
a
perfect
example
where
it's
like.
How
do
we
build
a
system
for
people
who
are
already
transacting
and
already
exhibiting
this
Behavior,
but
can
use
what
is
offered
by
crypto
to
kind
of
unseat
the
kings
that
have
of
like
remittance,
for
example,
where
you're
standing
in
a
long
line
you're
paying
10
for
a
transaction
you're
paying
five
percent?
A
It
takes
like
seven
business
days
for
the
money
to
get
there
and
then
a
really
interesting
thing
that
I
found
in
this
world
Bank
data
is
that
remains:
flows
actually
account
for
more
than
a
quarter
of
GDP
in
Honduras
and
El
Salvador.
So
a
quarter
of
the
whole
country's
GDP
comes
from
cross-border
payments,
okay
and
then
let's
talk
about
social
pressures
and
the
first
one
in
this
term,
which
is
machismo
now
I
didn't
have
time
to
go
into
a
full
analysis
about
this,
because
this
presentation
is
so
short.
A
But
if
you
look
at
these
countries-
and
you
take
a
look
at
Colombia-
all
the
Latin
American
countries
up
here-
you
see,
oh
man,
the
key
got
cut
out,
but
green
means
women
and
and
blue
means
men.
So
if
you
compare
it
to
European
countries,
women
are
actually
holding
and
transacting
in
crypto
at
a
much
higher
rate
than
women
in
Europe
and
in
some
cases,
they're
really
close
to
the
rate
of
men
in
Europe.
So
what
does
this
mean?
A
What
does
this
tell
me
crypto
in
Latin
America,
you
know
if
you
guys
are
Latin
American,
there's
this
culture
of
machismo,
which
is
like
super
rampant
and
for
maybe
Americans
who
don't
know
what
it
means.
It's
basically
patriarchy,
but
with
like
a
Latin,
America
Flair
to
it,
where
it's
like
you're
not
allowed
to
work.
You
need
to
ask
me
for
money.
You
need
to
stay
home.
A
You
know
you
need
to
like
be
subject
to
what
I
want
and
that
takes
form
in
a
lot
of
different
ways
which
we
won't
get
into,
but
I
encourage
you
guys
to
look
at
research.
But
what
is
the
signal
to
me?
It
signals
that
crypto
is
offering
a
new
way
for
women
to
transact
and
and
operate
within
Financial
Freedom,
while
still
operating
within
the
bounds
of
what's
socially
acceptable.
So
what
does
that
mean?
So
what
that
means?
Is
you
can
say?
Oh
well,
why
don't
they
just
go
open?
A
A
bank
account
they're
going
to
get
mailed
to
their
house?
Oh,
why?
Don't
they
just
go
like
sign
up
for
PayPal
they're
gonna
get
mailed
to
their
house
like
these
are
all
things
that
they
could
run
a
risk
if
they
try
to,
you
know,
break
out
of
whatever
kind
of
like
limits
are
set
on
them.
Okay,
now,
let's
talk
about,
how
do
we
actually
innovate
and
what
are
some
examples
of
companies
who
have
focused
on
solving
hyper
local
problems
and
have
seen
crazy
growth
come
of
it
and
how
we
can
model
this
in
crypto?
A
So
what
does
this
mean
right
like
this
means
when
you
go
to
a
place
that
has
region
specific
problems
and
you
solve
hyper
local?
You
can
actually
drive
use
and
Innovation
and
grow
into
like
this.
This
is
a
great
example
until
like
an
entire
financial
service
and
then
we'll
talk
about
one
more
pixpain
Brazil
is
Brazil's
dominant
digital
payments,
up
with
over
60
million
users
and
they
transact
over
a
million
dollars.
No
that's
a
billion
dollars
in
monthly
transactions.
Big
space
started
not
too
long
ago.
A
It's
the
number
one
payment
system
in
Brazil
right
now,
another
example
of
like
when
you
solve
hyper
local.
When
you
go
to
where
the
problems
are.
When
you
solve
solutions
for
people
who
actually
are
facing
real
problems,
you
can
actually
see
exponential
growth,
rather
than
kind
of
focusing
on
this
like
place
where
we
are
in
that
weird
quadrant
that
I
posted
earlier
now
scalability.
Now,
let's
get
into
the
what
technically
needs
to
change
so
that
we
can
actually
get
there.
A
So
this
is
an
introduction
to
fuel
Labs
I'm,
the
head
of
developer
relations
there
and
why
I'm
really
excited
about
Fuel
and
one
of
the
main
reasons
why
I
joined
fuels
for
my
specific
Mission
and
Ethos
of
scaling,
ethereum
and
Latin
America.
So
what
needs
to
change
scalability
right
right
now?
We
just
can't
handle
the
throughput.
If
we
wanted
to
do
something
like
Mercado,
Pago
or
pixby.
It's
just
ethereum
cannot
handle
it
at
this
point.
So
we
need
to
scale
that.
How
do
we
address
that?
So
fuel
Labs
is
building
fuel.
A
It's
like
a
layer
two
but
better
on
ethereum,
and
we
have
parallel
transaction
execution
because
of
our
a
different
execution
model.
So
we
have
our
own
VM
called
the
fuel
VM
that
allows
us
to
do
a
lot
of
cool
things
like
paralyzed
transactions,
which
just
automatically
gives
you
more
throughput
because,
instead
of
having
to
do
one
transaction
at
a
time,
you
can
do
many
transactions
at
a
time
and
right
away,
you're
already
getting
hired
through,
but
right
off
the
bat
without
sacrificing
skill,
without
sacrificing
decentralization.
A
So
a
lot
of
chains
like
Solana
and
stuff
they
can
do
really
high
throughput
but
they're
sacrificing
decentralization.
What
does
that
mean
exactly?
You
can't
run
a
full
node
at
home.
You
on
consumer
Hardware
can
go
spin
up
a
full
note
and
validate
the
chain
yourself.
That
is
the
core
ethos
of
blockchain.
If
you
can't
run
a
full
note
and
have
control
over
your
money,
then
we
might
as
well
just
like
all,
go
back
to
using
PayPal
or
the
bank.
Okay,
more
secure
applications.
A
So
again,
when
we're
talking
about
a
price
sensitive
population
with
an
average
income,
we
can't
risk
hacks.
We
can't
risk
this
type
of
level
of
security.
If
we
actually
want
these
people
to
use
it
now,
another
cool
thing
about
fuel
is
we
have
our
own
programming
language
called
sway,
which
is
a
rust-based
DSL,
which
means
it's
a
programming
language
created
specifically
for
blockchain
development.
A
Now,
what
does
that
mean
that
you
can
create
a
compiler
that
is
very
tailored
to
very
specific
needs,
and
one
of
them
is
have
you
who's
heard
of
a
re-entrant,
debug
re-entracy
hacks
right?
It's
like
we're
in
a
very
simple
case.
It's
kind
of
where
there's
like
a
line
to
release
some
funds
and
then,
after
you,
like
flip
a
Boolean
to
say,
true,
money
has
been
released
so
that
you
don't
do
it
again.
A
Some
programmers
in
some
instances
there
has
been
a
bug
here
where
someone
can
go
into
your
contract
and
basically
drain
it
and
get
the
money
over
and
over
and
over
before,
reaching
that
line
in
the
execution
of
the
code
where
it
flips
some
flag
to
to
stop
doing
it.
So
now,
fuel
sway,
our
compiler
has
built
into
the
compiler
to
say,
hey
on
line
47,
you
have
a
re-entracy
vulnerability
and
it
will
not
allow
you
to
build
and
deploy
the
contract
until
you
address
it.
A
Another
thing:
the
sway
compiler
forces
developers
to
handle
all
possible
cases
using
enum
variants.
Basically,
what
that
means
is,
if
you've
ever
written
a
program
to
say
you
know,
let's
just
say
if
the
number
is
above
zero,
do
something.
If
it's
you
know
below
zero,
do
something.
This
way.
Compiler
will
tell
you,
hey
you've,
only
written
code
to
handle
the
true
case
or
you've
only
written
code
to
handle
this
case.
You
forgot
to
write
code
for
this
case
and
again
it
won't.
Let
you
build
the
contract,
it
won't.
A
Let
you
deploy
the
contract
until
you
address
that,
so
the
powerful
thing
about
this
is
like
you
can
never
have
kind
of
an
accidental,
like
oops
forgot
to
handle
that
edge
case.
Okay,
we're
almost
done
finally,
namespace
storage.
So
if
you've
ever
written
contracts
and
solidity,
you
know
you
might
have
accidentally
touched
storage
without
knowing
it
and
that
could
have
some
unintended
consequences.