At 207 million people, Brazil’s population is the 5th in the world and the 4th internet market globally, it represents 42% of B2C e-commerce in Latin America. Despite recent political and economic caos, e-commerce in Brazil continues toShow more [+] grow steadily at about 8% per year, with 48 million e-consumers spending US$ 14.8 billion on the web.
This blooming economic environment struggles to grow even further due to the bureaucracy and abusive fees of bank owned intermediaries and payment gateways. These fees often reach up to 20% of a single sale.
CriptoReal Project inception took place after a meeting with some of the biggest e-tailers in the country, who expressed their interest for the new "crypto thing" and how it can be adopted for cutting down intermediaries costs.