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

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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.

Hi! I’m born and raised in Mexico city and my dad was a street vendor for a while. Basically it is strategy for not paying taxes, the federal government agency checks all your accounts in order to make you pay a lot of taxes and many people rather just use cash for not to have registrer.

First, some people don’t want to pay taxes and they don’t want to create accounts to be spied by the federal government

First, some people don’t want to pay taxes and they don’t want to create accounts to be spied by the federal government https://warpcast.com/poliberber.eth/0xb4d8e3e8

i want to get Poli's take here! @poliberber.eth 
thanks for the ping frank

tl:dr i think this is an important topic to understand on a deeper level. It's not exactly a straight forward answer as to why. i wrote a book in response.