Latin American developers are increasingly gravitating towards Ethereum and Polygon for their blockchain projects, according to a recent report. Researcher Luiz Eduardo Abreu Hadad highlighted to Cointelegraph that while developers in the region are drawn to these well-established platforms, there remains a strong potential for the creation of new blockchain ecosystems within Latin America.
The Appeal of Ethereum and Polygon
Ethereum and its Layer 2 scaling solution, Polygon, have long been popular choices in the blockchain community. Their appeal lies in their robust infrastructure, vast developer resources, and widespread adoption. Ethereum, often referred to as the “world computer,” offers a flexible and secure platform for building decentralized applications (dApps). Meanwhile, Polygon enhances Ethereum’s capabilities by providing faster and cheaper transactions, making it particularly attractive for developers focused on scalability.
Latin American developers are no strangers to these advantages. With a burgeoning tech scene, many are seizing the opportunity to utilize Ethereum and Polygon’s well-documented frameworks to bring innovative solutions to market. For instance, projects tackling financial inclusion and cross-border payments have found a natural home on these platforms, where they can leverage smart contracts and DeFi (Decentralized Finance) protocols to create impactful solutions.
Local Innovation: A Potential Game Changer
Despite the magnetic pull of Ethereum and Polygon, Hadad believes there’s untapped potential within Latin America to forge new blockchain ecosystems. The region is rich in talent and boasts a deep understanding of local challenges, which are crucial ingredients for innovation.
Hadad argues that by focusing on region-specific needs, Latin American developers could create platforms tailored to address unique problems in the area. For example, a blockchain designed to facilitate transparent land ownership records could transform real estate markets in countries where property rights are often disputed. Similarly, a network optimized for local supply chain management could enhance trade efficiency and economic resilience.
Balancing Established Platforms with New Ventures
The decision to stick with established platforms like Ethereum and Polygon isn’t without its risks. While these ecosystems offer security and a large user base, they also come with congestion and high gas fees, particularly on Ethereum. Developers must weigh these drawbacks against the reliability and support these platforms provide.
On the flip side, venturing into new blockchain development is not without challenges. Building a new ecosystem requires significant resources and community buy-in, which can be daunting in a competitive landscape. Yet, the potential rewards could be substantial, particularly if these new platforms address specific regional issues more effectively than their global counterparts.
A Collaborative Future
Collaboration could be a key strategy for Latin American developers moving forward. By combining the strengths of established platforms with localized solutions, there’s an opportunity to create hybrid models that leverage the best of both worlds. For instance, using Ethereum’s smart contracts in conjunction with a new, region-specific blockchain could enhance functionality while addressing local needs more directly.
Moreover, partnerships with international blockchain organizations could provide the necessary expertise and funding to fuel these initiatives. Such collaborations can help bridge the gap between local innovation and global standards, ensuring that new platforms are not only regionally relevant but also globally competitive.
Conclusion: The Road Ahead
As Latin America’s tech scene continues to evolve, the region stands at a crossroads. Developers face the choice of sticking with tried-and-true platforms like Ethereum and Polygon or venturing into the uncharted territory of new blockchain ecosystems. Both paths offer unique advantages and challenges.
Ultimately, the decision may not be about choosing one over the other but finding a balance that maximizes impact and innovation. With a rich pool of talent and a deep understanding of local issues, Latin American developers are well-positioned to drive the next wave of blockchain innovation, whether on established platforms or through new ventures. The future promises to be an exciting journey of growth and discovery for the region’s burgeoning blockchain community.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
