Expanding Operations in Brazil and LATAM
SolidBlock, a leader in Tokenization as a Service (TaaS) for real estate, integrating blockchain and Web3 technology, has partnered with Wconnect, a Brazilian-based blockchain and big data analytics and consulting firm, to explore mutually beneficial areas of cooperation including a significant increase in the number and importance of tokenization projects in Brazil. Wconnect will act as SolidBlock’s commercial and technical partner in the region, eventually expanding to Latin America (LATAM).
“I’m convinced that Wconnect is the right partner to help bring SolidBlock’s expertise and tech to LATAM,” explained Helena Henkin, SolidBlock’s LATAM Head of Global Partnerships, who is leading this operation.
Wconnect is the national leader in the use of big data and blockchain for business intelligence. It uses disruptive technologies such as machine learning and blockchain to generate value for companies. In 2021, Wconnect generated more than BRL 38 billion in sales growth for their customers.
“For more than three years, we at Wconnect have been immersed in tokenization processes of real assets here in Brazil; and now we have made it possible in a legal, technologically secure, and fast way through a globally recognized platform, commented Valencio Garcia, Wconnect’s CSO, on the partnership with SolidBlock. “We are now prepared to tokenize any property in Brazil and in other Latin American countries.”
In addition, Wconnect has created SIMPLE ID, a program to centralize in a highly secure file an individual’s medical data. This system for connecting doctors, patients, and pharmacies uses Hyperledger Fabric blockchain, a modular blockchain framework that is a foundation for developing blockchain-based products, solutions, and applications using plug-and-play components that are aimed for use within private enterprises.
In 2020, Wconnect’s SIMPLE ID was selected as one of the 32 most innovative solutions to help mitigate the socio-economic impacts of COVID-19 by Santander X 100, an annual competition held by Banco Santander.
Adoption of Cryptocurrencies in Brazil
Brazil is ranked 5th in the world in crypto adoption, according to the Global Digital Report. In Latin America, Brazil is ahead of Colombia (7.7%), Mexico (5.9%), and Argentina (4%), the report adds. The ranking is led by South Africa (10.7%), followed by Thailand (9.9%), Indonesia (9.5%), and Vietnam (9.1%).
The average Brazilian who has invested owns two or three types of cryptocurrencies, according to a report by the Business Administration School of Sao Paulo. Ninety-two percent of crypto users are male, and regardless of gender, 40% of crypto holders are 20 to 25 years old.
In a country of 213 million with a high poverty rate, according to World Bank statistics, 40% of those holding crypto in Brazil earn below the country’s minimum wage.
Brazil also ranks 7th on the list of countries with the highest number of cryptocurrency exchanges, according to The Next Web.
“Brazil needs an infusion of US $1.5 trillion in urban development and infrastructure by 2030, according to a recent study by FIESP (Federation of Industries of the State of São Paulo),” concluded Maurício Conti, Wconnect’s CPO. “With this partnership with SolidBlock, we are bringing to the real estate entrepreneurs all the experience acquired in international success cases in countries like the US, UK, Israel, and Panama. We will help the sector unlock investments!”
Founded in 2018 and headquartered in Israel, SolidBlock is a leader in Tokenization as a Service (TaaS) for real estate. TokenSuite™ by SolidBlock empowers asset owners to trade, raise capital, and collateralize their tokenized property on a secure, immutable, and transparent system.