Colombia’s President, Gustavo Petro, has reportedly become a Bitcoin holder. This marks a significant development after a meeting with a delegation led by Samson Mow, the founder of JAN3. JAN3 is actively engaged in promoting Bitcoin adoption by nation-states.
Moreover, the President’s decision to embrace Bitcoin comes after discussions with the delegation. This move could potentially have a noteworthy impact on the nation’s stance towards cryptocurrency.
According to local media and social channels, this encounter signifies a crucial exploration of integrating Bitcoin (BTC) and blockchain technology into Colombia’s socio-economic framework. JAN3’s statement, as hinted on X, suggests the possibility of policy shifts;
“Could the utilization of Bitcoin lead to new policies in Colombia? Certainly a possibility. The JAN3 team engaged with President Gustavo Petro to discuss potential implementations in social projects.”
Adding to the intrigue, Samson Mow shared an image on X, revealing that the President of Colombia is now a confirmed Bitcoin HODLer, having received 100,000 sats (0.001 BTC).
Mow expressed gratitude to President Petro for his openness, saying;
“Thank you, President Petro Gustavo, for the welcoming message. We’re eager to assist Colombia in progressing. And keep hold of your Bitcoin!”
Colombia’s President and Blockchain Leaders Collaborate on Bitcoin Adoption
Furthermore, Diego ‘Aequalitatem Honoris’ Gutierrez-Zaldivar, CEO of IOVLabs, acknowledged the meeting’s importance via X, aligning with the shared goal of fostering a more prosperous society. He stated;
“Thank you, President Petro Gustavo, for meeting with us. We share the commitment to create a more prosperous society.”
In terms of Bitcoin adoption in Colombia, reports from Diario La República and W Radio indicate President Petro’s exploration of BTC use in the national economy, particularly through cooperatives. Blockchain technology is also under consideration for various public sectors such as health billing, Special Assets Society (SAE) management, and land restitution processes.
President Gustavo emphasized the potential for real-time management in health billing and property transactions through blockchain technology. Additionally, he discussed the integration of Bitcoin into worker cooperatives within the popular economy.
The meeting at Casa de Nariño delved into these critical issues, underscoring the growing interest and potential government support for Bitcoin and blockchain technology in Colombia. Noteworthy participants included blockchain technology experts Samson Mow, Diego Gutiérrez, Raúl Velásquez, Edwin Rivas, Cristian Quintero, and Mauricio Tovar.
Colombia’s Cryptocurrency Landscape
Significantly, cryptocurrencies are presently unregulated in Colombia. The Financial Superintendency has conducted a pilot plan for cryptocurrency use for several years; however, conclusive results are still pending.
The implementation of President Petro’s proposed strategies stays uncertain, awaiting further progress in cryptocurrency regulation in Colombia.
Nevertheless, President Gustavo’s engagement with Bitcoin and blockchain technology experts suggests a potential shift towards embracing these technologies at the national level.
As Colombia grapples with regulatory considerations, the President’s involvement could foreshadow more definitive Bitcoin and crypto policies, paving the way for broader adoption in the near future.
Notably, Mow recently visited Suriname. There, he collaborated with President Chan Santokhi and other officials to explore a potential Bitcoin strategy for the country’s economic model transformation. However, this development adds to the momentum.
Additionally, Mow hinted at the possibility of the central bank investing 1% of its reserves in BTC during discussions in Suriname.