teddit

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

qDAU 🎩 track bike guy in 🇲🇽
✨⛰️🚲🏔️

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

she/her · Mexican · Global South ·  /openventures contributor · Adventure cyclist  · /highercycling · Film photography  https://zora.co/@poliberber


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

In india people used phonepe 

@cooperray @poliberber.eth any insight into why this isn't more widespread in MCX?

founder /openventures | /proxyswap | tokenbot @clanker

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.

If a vendor does have a bank account, they might often accept "un transferencia" - "SPEI" bank transfer. Functional. Ancient. 

WiFi enabled MercadoPago terminals are becoming more widespread, you can use a CC, etc. Generally speaking, FinTech is slowly evolving, but a hard sell to someone that barely makes ends meet.

Technology is many years behind because there isn't a wealthy cohort to utilize or consume what would be built, nor investment to do so.

Larger, more important issues take hold, and still cannot be solved. For example, how CDMX was(still is?) going to *completely* run out of potable water in less than 30 days...

Things here are quite traditional and many come from a Pueblo way of life. Understanding this context helps put things in perspective. 

I have the extreme privilege of traveling through these incredible places on my bike and am constantly in awe at how resistant to modern changes many remote places are. Stuck in time.

Another stark ex:
It's almost Mexican election time. There are political posters everywhere for candidates, even in the Pueblos. Passing thru remote mountain pueblos recently in Oaxaca, something that stood out to me as bizarre was that there is a giant X thru the political partys' logo or face. intentionally (cont...)

This is because many people are *illiterate* and the X shows them who to vote for. Either no ability to read, or they don't even know Spanish- only the ability to speak their indigenous language.

There is much beauty in the preservation of history and culture

If someone cant use venmo at the Tianguis, so be it ♥️

CDMX in 'the bubble' might appear to be slick and modern.. however, this is built for, and reserved for: 1) tourism in USD or 2) a wealthier, whiter socioeconomic class which is quite segregated from or ignorant to the realities of daily life. There is staggering economic juxtaposition and inequality in Mexico.