A delegation from South Carolina, USA, has traveled to El Salvador to find out how the country’s recognition of bitcoin as legal tender is transforming its economy, according to a release sent to Bitcoin Magazine.
Business and technology leaders, healthcare officials and State Treasurer Curtis Loftis took a five-day tour of El Salvador, traveling from one end of the country to the other. The delegation met with many local government officials to understand what emerging technology is achieving.
“What we witnessed in El Salvador has been very helpful in our efforts to encourage greater support and understanding of the cause,” said Dennis Fassuliotis, president of the South Carolina Association of Emerging Technologies (SCETA). Digital assets and emerging technology in South Carolina. .
Loftis was recently tasked by the General Assembly with exploring the continued development and possible adoption of bitcoin. The State Treasurer is tasked with identifying methods for finding more stakeholders across the state while showcasing the benefits of increased use of bitcoin and cryptocurrencies.
“We have heard many stories about how street vendors have embraced this technology and dramatically grown their businesses,” says Fassuliotis. “While there are a number of variables to consider, it is interesting to ponder the prospect of how South Carolinians, especially those in our rural communities, can also benefit from the use of Bitcoin.”
Furthermore, Loftis and the other crew members witnessed Mi Primer BitcoinOur educational program helps students understand and implement the use of bitcoin with a focus on financial literacy.
Treasurer Loftis said: “El Salvador is a rapidly developing country that has taken an aggressive approach to transforming a largely unbanked population into one that is now adopting use Bitcoins.
Treasurer Loftis said he paid for the trip himself, noting that no tax dollars were used to fund the delegation.
Furthermore, from October 5-7, two of El Salvador’s top ministers will present bitcoin’s impact on the country in Bitcoin Blockchain Week in South Carolina conference.