This is an opinion editorial by Dennis Fassuliotis, founder of South Carolina Blockchain Inc. and co-founder of South Carolina Emerging Technology Association, Inc.
A South Carolina delegation of a diverse group of business leaders, rural health officials and people interested in the expansion of bitcoin, including state Treasurer Curtis Loftis, recently returned from an exploratory trip to El Salvador , the first country in the world to adopt. bitcoin as legal tender.
During their five-day visit, the group traveled from one side of the country to the other as they gathered information, met with government officials and sought to understand the changes this Central American country has made to adopt bitcoin and educate the its citizens about its use. .
“What we witnessed in El Salvador is very helpful in our efforts to foster greater support and understanding of digital assets and emerging technologies here in South Carolina,” said Dennis Fassuliotis, President of the Carolinas Emerging Technologies Association of the South (SCETA). “We’ve heard several stories of how street vendors have embraced this technology and grown their businesses significantly as a result. While there are a number of variables to consider, it’s exciting to think about the prospects of how South Carolinians, especially those in our rural communities, could also benefit from the use of Bitcoin.”
The State Treasurer participated in the fact-finding trip, as his office was recently tasked by the General Assembly to explore the growing development and potential adoption of digital assets and identify ways in which stakeholders throughout the state, including individuals, private businesses, and state and local government entities. — can benefit from the expanded use of these technologies.
During the visit, Treasurer Loftis and the delegation met with government officials about the adoption of bitcoin in the country. They also observed first-hand the Mi Primer Bitcoin educational program and participated with teachers and industry experts from around the world, administering a final exam to students completing a 10-week financial literacy program that included how to use the bitcoin for daily transactions and startup. ceremonies
“El Salvador is a rapidly evolving country that has taken an aggressive approach to transforming a largely unbanked population into one that is now embracing the use of Bitcoin,” said Treasurer Loftis. “My goal was to see how this bold initiative worked, and I was pleasantly surprised.”
In a country plagued by four generations of civil strife, government changes and the exodus of nearly 25% of its population to better lives elsewhere, the government’s efforts to revive its economy are beginning to show positive results as marked the one-year anniversary of making bitcoin legal tender. The number of Salvadorans using bitcoin for everyday purchases is expected to increase as the government institutes new policies and procedures to clarify and expand use.
“When I spoke with many of the small business owners, they remain interested in using bitcoin and expect its expansion to continue for the foreseeable future,” Loftis added.
A presentation covering efforts in El Salvador, as well as Treasurer Loftis’ insights into the potential impact of digital assets in the Palmetto State are just part of an exciting agenda planned for the Carolina Bitcoin Blockchain Conference from the South to Charleston. People representing some of the brightest minds in the Bitcoin industry will share their insights on Bitcoin’s impact on energy, education, economic development, banking and more.
No state tax money was used to fund Treasurer Loftis’ trip. He paid for his trip with personal funds.
This is a guest post by Dennis Fassuliotis. The opinions expressed are entirely my own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.