Colombian President Gustavo Petro has reportedly grow to be a holder of Bitcoin. This growth comes on the heels of a gathering between President Petro and a delegation led by Samson Mow, founding father of JAN3, an organization on the forefront of Bitcoin nation-state adoption.
The assembly, as reported by native media and thru social channels, represents a big step in exploring the mixing of BTC and blockchain know-how into Colombia’s socio-economic cloth. JAN3’s assertion by way of X hinted at potential coverage shifts: “Is Bitcoin utilization in Colombia prone to usher in new insurance policies? Undoubtedly possibly. The JAN3 staff met with Petro Gustavo to debate its potential implementation in social tasks.”
Additional including to the intrigue, Samson Mow posted a picture on X with President Petro, revealing, “The President of Colombia is now a Bitcoin HODLer for positive. 100,000 sats [0.001 BTC] to be actual.” Mow expressed gratitude in direction of President Petro for his openness, stating: “Thanks President Petro Gustavo for the welcoming message. We’re excited to assist Colombia to maneuver ahead. And don’t lose your Bitcoin!”
Moreover, Diego ‘Aequalitatem Honoris’ Gutierrez-Zaldivar, CEO of IOVLabs, acknowledged the assembly’s significance by way of X, aligning with the aim to foster a extra affluent society. He said, “Thanks President Petro Gustavo for receiving us. We share the dedication to create a extra affluent society.”
Thanks President @petrogustavo for receiving us. We share the dedication to create a extra affluent society.
cc: @Excellion @maurotov https://t.co/awGCEmgLBp
— Diego ‘Aequalitatem Honoris’ Gutierrez-Zaldivar (@dieguito) December 1, 2023
Bitcoin Adoption In Colombia
Native media outlet Diario La República and W Radio reported that President Petro is exploring using BTC within the nationwide financial system via cooperatives. The president can be contemplating the appliance of blockchain know-how in varied public sectors corresponding to well being billing, administration of the Particular Belongings Society (SAE), and land restitution processes.
President Gustavo emphasised the potential for managing the well being billing system and property administration in real-time utilizing blockchain know-how, in addition to the mixing of Bitcoin in employee cooperatives throughout the in style financial system.
The assembly on the Casa de Nariño included discussions on these key points and underscores the rising curiosity and potential authorities assist for Bitcoin and blockchain know-how in Colombia. Members included famend blockchain know-how consultants Samson Mow, Diego Gutiérrez, Raúl Velásquez, Edwin Rivas, Cristian Quintero, and Mauricio Tovar.
Nonetheless, it’s necessary to notice that cryptocurrencies should not but regulated in Colombia. The Monetary Superintendency has been conducting a pilot plan for using cryptocurrencies for a couple of years, however the outcomes are nonetheless pending. The implementation of the methods proposed by President Petro stays unsure till additional developments in cryptocurrency regulation are made in Colombia.
However President Gustavo’s engagement with Bitcoin and blockchain know-how consultants alerts a potential pivot in direction of embracing these applied sciences at a nationwide stage. As Colombia grapples with the regulatory elements, the President’s involvement might be a harbinger for extra definitive Bitcoin and crypto insurance policies and broader adoption within the close to future.
Remarkably, Mow was just some days in the past in Suriname, the place he met with the president Chan Santokhi, and different authorities officers to develop a possible Bitcoin technique to remodel the small South American nation’s financial mannequin. Amongst different issues, Mow additionally hinted that the central financial institution might make investments 1% of its reserves in BTC.
At press time, BTC traded at $38,117.
Featured picture from Time, chart from TradingView.com
