In what could be the start of another story of Bitcoin adoption in the South American region, Colombian President Gustavo Petro has officially become a BTC holder. While many other countries in the region take cryptocurrencies seriously, El Salvador, a Latin American republic, approved Bitcoin as legal tender in September 2021.
Colombian President Gustavo Petro became a Bitcoin holder after he met with a delegation led by Samson Mow, founder of JAN3, a company pioneering national Bitcoin adoption.
The conference, as reported by local media and social media, is an important step towards exploring the integration of Bitcoin and blockchain technology into the socio-economic fabric of Colombia.
Is the use of Bitcoin in Colombia likely to open up new policies? It's certainly possible. The JAN3 team met with Petro Gustavo to discuss its potential implementation in social projects.
Samson Mow gave the President of Colombia 100,000 sats worth of BTC . President Petro then issued a message in which he stated that the technology behind cryptocurrency has the potential to benefit the Colombian people. According to Samson Mow:
“The President of Colombia is definitely a Bitcoin HODLer now. 100,000 sats to be exact.”
Samson Mow (left) and President Petro (right).
Mow thanked President Petro for his friendliness:
“Thank you President Petro for your welcome message. We are excited to help Colombia move forward. And don't lose your Bitcoin!”
Furthermore, Diego Gutierrez-Zaldivar (Aequalitatem Honoris), CEO of IOVLabs, emphasized the importance of meeting on X, coinciding with the goal of promoting a more prosperous society.
“Thank you, President Petro, for welcoming us. We Chia a commitment to creating a more prosperous society.”
On the occasion of BTC ownership, the President of Colombia announced that he will launch the formation of working groups in the government and grassroots sector wherever technology is beneficial to the economy. He stated that cryptocurrencies and blockchain have clearly made their mark globally and will continue to grow in the future. These technologies have the potential to improve human health.
According to local media Diario La Repblica and W Radio, President Petro is XEM using Bitcoin in the national economy through cooperatives. The President is also exploring the use of blockchain technology in other government sectors, including medical billing, Special Estates Association (SAE) management, and land restitution processes.
President Petro emphasized the possibility of using blockchain technology to manage medical payment systems and asset management in real time and incorporating Bitcoin in worker cooperatives in the mass economy.
The meeting at Casa de Nario included discussions on these important concerns, highlighting Colombia's growing interest and potential government support for Bitcoin and blockchain technology.
However, it is important to note that cryptocurrencies are still unregulated in Colombia. For several years, the Financial Conduct Authority has been working on a plan to test the use of cryptocurrencies, but the results are still pending. Implementation of the President's proposed tactics is questionable until more improvements in cryptocurrency regulation are made in Colombia.
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According to Cryptopolitan
