A delegation of 5 people, including a South Carolina Treasury Department official, organized a research tour to El Salvador to observe the local effects of Bitcoin (BTC).
It has been a year since the Latin American country El Salvador made Bitcoin a legal currency. It seems that the authorities have searched curiously about the local effects of the cryptocurrency in this process. October 5th According to the documents shared on 5 person delegation It was stated that they went to El Salvador and made detailed examinations on Bitcoin adaptation.
officer at the Treasury Department Curtis M. Loftis, Positioning himself in the middle as neither an anti-Bitcoin nor a fan of Bitcoin, he experimented with Bitcoin many times during his research trip with locals. Authorities for 5 days During their research, he stated that Bitcoin had positive effects on the local people. Noting that Bitcoin makes the daily money transfer transactions of the people of El Salvador cheaper and faster, the authorities realized that this situation also improves financial literacy and technological learning.
President of the South Carolina Emerging Technologies Association (SCETA) Dennis FassuliotisHe made comments about the research trip in question. Fassuliotis stated that the impact they witnessed in El Salvador is important in terms of efforts to promote crypto money integration in the USA and South Carolina:
We’ve heard a lot of stories about how street vendors have embraced this technology and have grown their business significantly as a result. While there are a number of variable factors to consider, it is exciting to consider how South Carolina residents, especially those living in rural areas, can benefit from using Bitcoin.
Although the decreases in Bitcoin price put President Nayib Bukele on the target, it seems that this radical decision was taken. started to set an example around the world. However, according to the latest data, the people of El Salvador 20%It is known that 80% of them actively use Bitcoin and 80% still do not have a registered bank account.