The Rise of Blockchain Development in Latin America: Insights from Sherlock Communications
Latin America’s developer community is undergoing a significant transformation as it increasingly gravitates toward established blockchain ecosystems like Ethereum and Polygon. A recent study by consultancy firm Sherlock Communications sheds light on this trend, highlighting the motivations, preferences, and the impressive technical maturity of developers in the region.
Insights from the Sherlock Communications Report
The report analyzed input from 85 developers across Bolivia, Mexico, Brazil, and Peru. These developers demonstrate a keen focus on transparency, effective coordination, and compliance. According to the findings, the preference for intuitive tools, robust documentation, and proven track records explains why platforms like Ethereum and Polygon are favored.
Luiz Eduardo Abreu Hadad, blockchain consultant and researcher at Sherlock Communications, emphasizes the technical maturity exhibited by Latin American developers. He notes that they are not only capable but also keenly attuned to addressing real-world issues. While there is potential for the creation of new platforms, the current landscape indicates that the region will primarily serve as a hub for development and adoption within these established ecosystems.
Ethereum and Polygon’s Dominance
The report’s on-chain data analysis reveals compelling insights into user activity in Latin America. Between June 2024 and June 2025, it was found that Ethereum accounted for over 75% of tagged blockchain transactions within the region. This underscores Ethereum’s stronghold as the leading platform for developers and users alike.
Polygon, while operating on a smaller scale, has shown promising growth—rising from 11% of total transaction activity to nearly 20% by June 2025. This ongoing adoption highlights the network’s potential to further entrench itself within the Latin American ecosystem.
Local Initiatives with Global Potential
Despite the current focus on established platforms, Hadad also points to local initiatives that showcase the region’s capacity for creating new ecosystems. Projects like Núclea Chain and RBB in Brazil illustrate the innovative spirit alive within Latin America. These ventures demonstrate that while developers may lean towards well-known networks, the seeds for new blockchain initiatives are being sown.
The Next Generation of Developers: A Shift Toward DApps and Real-World Asset Tokenization
As we look toward the future, Hadad identifies emerging trends among the next generation of Latin American developers, particularly students and hackathon participants. They are increasingly interested in decentralized applications (DApps) and real-world asset (RWA) tokenization. This next wave of developers aims to harness the power of blockchain technology to reshape industries such as social media and the creator economy.
Furthermore, there is an evident fascination with projects focused on supply chain traceability, decentralized physical infrastructure networks (DePIN), and RWAs. These developers are seeking stable ecosystems that offer intuitive tools and sustainable economic incentives while prioritizing solutions that tackle real challenges surrounding trust, transparency, and usability.
The Landscape Ahead: Shaping Real-World Applications
Hadad’s insights paint a promising picture of the future of blockchain development in Latin America. As developers focus on DApps and RWAs, they are strategically positioning themselves to address pressing social and economic challenges. By leveraging the strengths of established ecosystems like Ethereum and Polygon, along with local innovations, the region is set to further solidify its role within the global blockchain landscape.
The growth seen in Latin America’s developer community signals a vibrant, evolving future, rich with potential and opportunity in the blockchain space.
