There are characters that by their action, word and thought earn a place in immortality. Being remembered by entire nations as heroes that changed history forever. This is the case of San Martín, and the reason why before the circulation of the 5-peso banknote in Argentina, a Bitcoin coin will be thrown with its face on it.
The departure of San Martin from the Argentine cone
During the last years, Argentina has gone through a delicate economic situation that has led the country to introduce important changes. Among them, the coinage of a new monetary cone with which to provide the population with high denomination bills in an inflationary context.
However, this measure has brought an important consequence, with the loss of value as of February 29 of the previous 5-peso bill with the face of the hero of independence, José de San Martín. Which was in circulation simultaneously with a coin of the same value, with the figure of the myrtle tree, which will definitely replace it.
Therefore, the Argentines will have until March 31 to change, in any banking institution in the country, the 5 pesos bills with the face of San Martin. They are credited to the account of the person, or being exchanged for a currency of the same value.
This would be the second banknote abandoned by the Central Bank of Argentina, after the 2-peso banknote came out of circulation in 2018. Thus, the government concentrating its energy on the issuance of bills of greater denomination. More in line with the price levels that the southern nation has reached.
Ripio Bitcoin Currency
Despite the economic logic behind this measure. Not being represented the Argentine hero in the new bills of greater denomination. The exit of circulation of this ticket would also mean the exit of San Martín from the monetary cone. Something that some Argentines have considered a lack of respect for the most prominent independence hero in the country.
Therefore, the main cryptocurrency broker in Argentina, Ripio, has decided to take action on the matter. Planning the issuance of a commemorative physical coin with the face of St. Martin. Which would have a built-in QR code, which when scanned would release 0.0005 Bitcoins. This equals, with today’s price, about $ 4.33.
In this way, Ripio not only tries to honor San Martín, as a key figure in the process of independence of Argentina. But it also tries to vindicate the values of freedom and independence defended by the Latin American hero, and that this company considers coincide with the principles behind Blockchain and Bitcoin technology.
International Studies student, interested in economics and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and cryptocurrencies in particular.