This is an editorial opinion piece by Dennis Fassuliotis, founder of South Carolina Blockchain Inc. and co-founder of the South Carolina Emerging Technologies Association, Inc.
A South Carolina delegation comprised of a diverse group of business leaders, rural health officials, and individuals interested in expanding bitcoin, including State Treasurer Curtis Loftis, recently returned after an exploratory trip to El Salvador, the first country in the world to adopt bitcoin as legal tender.
During their five-day visit, the team traveled from side to side of the country as they gathered information, met with government officials and sought to understand the changes the Central American country had made to embrace bitcoin and educate citizens about its use.
“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. “We have heard many stories about how street vendors have embraced this technology and their businesses have grown significantly as a result. While there are a number of variables to consider, it is interesting to think about the prospect of how South Carolinians, especially those in our rural communities, can also benefit from use Bitcoin”.
The State Treasurer joined the fact-finding tour because his office was recently tasked by the General Assembly with the task of exploring the growing development and adoption of digital assets and determining how Stakeholder awareness statewide – including individuals, private businesses, and state and local government agencies. – could benefit from the expanded use of these technologies.
During the visit, Treasurer Loftis and the delegation met with government officials about the country’s bitcoin adoption. They also observe Mi Primer Bitcoin direct and participatory education by teachers and industry experts from around the world, offering final exams for students who complete a 10-week financial literacy program that includes Includes how to use bitcoin for daily transactions and initiation.
Treasurer Loftis said: “El Salvador is a rapidly developing country that has taken an active approach to transform a largely unbanked population into one that is now adopting the use Bitcoin. “My goal was to see how this bold initiative worked, and I was pleasantly surprised.”
In a country ravaged by four generations of civil strife, changes in government and the emigration of most 25% of its population For a better life elsewhere, government efforts to revive the economy are starting to show positive results as it marks the one-year anniversary of bitcoin being legal tender. The number of Salvadorans using bitcoin for everyday purchases is expected to grow as the government introduces new policies and procedures to clarify and expand usage.
“As I speak to many small business owners, they are still interested in using bitcoin and hope that its expansion will continue for the foreseeable future,” Loftis added.
The presentation documenting the efforts in El Salvador as well as Treasurer Loftis’s insights into the potential impact of digital assets on the State of Palmetto are just part of the exciting agenda being raised. Plans for the South Carolina Bitcoin Blockchain Conference in Charleston. Individuals representing some of the brightest minds in the Bitcoin industry will share their insights into Bitcoin’s impact on energy, education, economic development, banking and more .
No state tax dollars were used to fund the Loftis Treasurer’s trip. He paid for his trip with personal money.
This is a post by Dennis Fassuliotis. The opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.