- Most of the Central Banks and Monetary Authorities Covered Are from Africa
- Continent lags behind Europe, America and Asia in terms of crypto adoption and use
It has been over seven months since El Salvador made Bitcoin legal tender. The decision is in the interests of the citizens of El Salvador, Nayib Bukele claims. This is despite vigilance from financial institutions such as the IMF and strong opposition from factions in El Salvador.
During this period, the Central African Republic successfully adopted the Satoshi coin as an officially recognized form of currency. This is the first time in Africa.
El Salvador’s President Bukele on Monday met with representatives of central banks and financial institutions from 44 countries, as he previously revealed.
“Tomorrow, 32 central banks and 12 monetary authorities (44 countries) will meet in El Salvador to discuss financial inclusion, the digital economy, banking for the unbanked, the rollout of Bitcoin and its benefits in our country. increase.,” Bukele share on Twitter.
Countries attended by delegates include Paraguay, Honduras, Kenya, Pakistan, Costa Rica, Egypt and Nigeria.
Bitcoin adoption in other countries
Since its inception in 2009, several governments around the world have been skeptical of Bitcoin’s ability to act as a medium of exchange. This is especially true for most African countries, the latter of which have received some restrictions and warnings from financial institutions about the entire crypto revolution.
Almost a year after El Salvador adopted it, the conference could bring about a change of perception in some of the participating countries. Even better, you can get them to adopt favorable policies that can result in a better attitude towards Bitcoin, which has proven to be more reliable than other crypto assets.
Despite receiving some criticism, bitcoin is still vaulted by several publicly traded companies around the world as part of their corporate finances. This could work in favor of supporting Bitcoin as a medium of exchange.
El Salvador is building its first-ever Bitcoin city. The construction of this city on the country’s south coast will be fully funded by the sale of Bitcoin bonds. The city will be powered by geothermal energy from a nearby volcano and will also be used to mine Bitcoin.
