Last week, the SiGMA / AIBC Americas digital summit took place on screens around the world, focusing on hot topics in the exciting LatAm market. But enough preamble - what did we actually learn? Here are some highlights and findings from the expert panels and debates
For the first time, both the gaming and the tech segments of the conference were offered in 3 languages: English, Spanish and Portuguese. This gesture was extremely well-received by the LatAm community and reflected a growing necessity for gaming operations to be localised in LatAm, and especially in their native languages in order to increase user trust and accessibility.
Day 1 & 2 - SiGMA:
The highly anticipated opening speech from Juan B Perez Hidalgo, President of Coljuegos EICE in Colombia, shone a beacon of hope amongst reports of a market in peril and explained that despite the challenges faced by the market in the last 4 years, the future is promising - gaming companies in LatAm are definitely on the rise.
More notable findings from some of our panels:
"Focus Colombia" - Colombia intends to model their regulatory framework on European legislation, and this will likely trickle down to other LatAm countries.
"Focus Brazil" - sports betting is likely to be legalised in Brazil next year.
"Betting Beyond Football" - LatAm's next big vertical looks to be esports.
"2020 Vision" - with the reduction of physical sports, COVID has fast-tracked the digitisation of gaming in LatAm and made room for casual casino gaming.
You can find the full catalogue of panels from Day 1 here:
Day 3 - AIBC:
Day 3 was focused on the "AIBC Americas" segment of the summit, taking on 2020's biggest emerging tech trends in the Blockchain, AI, Emerging Tech, and Cryptocurrency spaces in LatAm.
In the first panel titled "Forward Thinking", we discovered that cryptocurrency is being hailed as the saving grace of many LatAm countries that have suffered through financial crises. We also learned that countries in the region are split into 3 categories: those where crypto is already illegal, those where it is illegal and those where it is unregulated. It seems as though LatAm as a whole is currently experimenting with different solutions to see which one will be most favourable to its inhabitants.
"Supply Chains in the Spotlight" - companies that harvest/ create produce in LatAm, and distribute in the US and Europe, are starting to use blockchain to document the entire supply chain for complete end-to-end transparency.
"The Smart City Challenge" - experts urged us to prepare for a 'digital' pandemic, advising that we increase cybersecurity as soon as possible.
"Petro" - the experimental first state-run digital currency failed as it was a contradictory concept, since cryptocurrency itself is decentralised and should not be controlled by a government. The concept needs more work before another federal cryptocurrency can be tested.
"Crypto as Collateral" - private crypto companies, however, are flourishing in LatAm, taking advantage of the gaps left by archaic and traditional banking systems.
Overall, close observation of the unique LatAm market is an extremely valuable endeavor for anyone in the gaming and tech sectors. This unique encapsulated ecosystem of evolving laws, trends and behaviours is the perfect demonstration of the full lifecycle of these industries. Despite all of the complications, the future looks very bright for this wonderfully resilient population, and we are incredibly impressed with how they are rising to the challenge.
You can find the full catalogue of panels from Day 2 here:
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