Digital Peso: An Alternative Path

Reevaluating Dollarization: A Tool of the Past‍

In a time when dollarization is a hot topic, it's crucial to remember that we cannot build the future using tools from the past. Achieving economic freedom through a sovereign currency is not a utopian dream but a realistic and desirable goal.

What would General San Martin or Juan Bautista Alberdi, staunch advocates for our first currency as a symbol of freedom, say today?

Institutional Weakness: The Root Cause of Devaluation‍

The devaluation of the peso stems from Argentina's institutional fragility. Proponents of dollarization seek a currency backed by third-party institutions, avoiding the responsibility of strengthening their own. If you don't know how to cook, do you learn, or do you live off takeout? Dollarization addresses the symptom, not the root cause of Argentina's economic challenges.

Laying the Foundations for a New Economy‍

It's time to rebuild and reform institutions to ensure stability and predictability in our economy. At the same time, we must foster long-term development with tools suited to modern and future economic demands. While it's not wrong to admire or collaborate with the world's leading economy, adopting their currency is like borrowing their clothes—it doesn't necessarily fit.

Digital Peso: A Currency for the 21st Century‍

The U.S. dollar originated in the 18th century, and the Federal Reserve's monetary policy rules were last updated in 1935, tailored to U.S. economic conditions. A Digital Peso, on the other hand, would be a 21st-century monetary instrument linked to Argentina's economic variables. Digital currencies, like cryptocurrencies, leverage blockchain technology, which has been successfully tested for over a decade since Bitcoin's inception on January 3, 2009.

We invite you to read the full article.

https://www.infobae.com/opinion/2023/04/30/peso-digital-un-camino-alternativo-en-el-debate-de-la-dolarizacion/

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