in mexico city for a friendmergency and it’s crazy to me how the street vendors only accept cash

anybody know why?

in venice beach + the US, they accept venmo or cashapp

in rio + são paolo, EVERYBODY uses Pix — from street vendors to big brands

big opp for blockchain-based P2P payments bc no web2 competition

some perspective on Mexico:

its a CASH economy
the average daily wage is ~200mxn or ~$11.96 USD for 8hrs of work
a large portion of people dont have bank accounts (how to accept a digital payment without this?)
Additionally, many less privileged families might share 1 cell phone per household.

i really went in on a reply to this, hope you don't mind.

i've learned a lot being a "chilango temporal". I've also realized the extent of my privilege from living here full-time and leaving my life and comforts of being a New Yorker behind. Humbling to say the least

https://warpcast.com/cooperray/0xf3f40424 🧵

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

qDAU 🎩 track bike guy in 🇲🇽
✨⛰️🚲🏔️

photography ⛓️ http://obscura.io | ⚪️ /openventures /proxyswap /highercycling

And the mayority of people don’t have even savings. Many people live spending for basic things every day. If you don’t have for the basics why do you even care to have a bank account 🥴