Cardano Co-Founder to Meet Argentina’s President 'Next Month' to Discuss Crypto Economy

Cardano Co-Founder to Meet Argentina’s President 'Next Month' to Discuss Crypto Economy

Cardano (ADA) co-founder Charles Hoskinson will meet Argentina's President Alberto Fernandez in mid-September to discuss the crypto economy in the South American country. "I am scheduled to meet Alberto Fernandez, the President of Argentina, on September 19th at the Argentina Technology Forum," Hoskinson told Cointelegraph. "I will be discussing the crypto economy with him." Hoskinson added that he plans to ask Fernandez about Argentina's goals and needs from a technology perspective, as well as its plans for issuing a central bank digital currency (CBDC). Argentina has been exploring the possibility of issuing a CBDC for several years. In 2021, the country's central bank launched a pilot program to test the use of a digital peso. The program is expected to conclude later this year. Hoskinson's meeting with Fernandez comes as Argentina grapples with high inflation and a weak economy. The country's inflation rate is currently over 70%, and its economy is expected to contract by 2.5% this year. Some experts believe that cryptocurrencies could help Argentina to address its economic challenges. Cryptocurrencies are not subject to inflation, and they can be used to send and receive payments quickly and cheaply. It remains to be seen whether Hoskinson's meeting with Fernandez will lead to any concrete policy changes in Argentina. However, the meeting is a sign that the country is taking cryptocurrencies seriously.