South Carolina State Treasurer Travels To El Salvador To Learn About Bitcoin Adoption

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Curtis Loftis and different SC officials spent 5 days successful El Salvador experiencing first-hand the country’s Bitcoin adoption.

A delegation from South Carolina, U.S. traveled to El Salvador to larn however the country’s designation of bitcoin arsenic ineligible tender is transforming its economy, per a merchandise sent to Bitcoin Magazine.

Business and technological leaders, healthcare officials and State Treasurer Curtis Loftis toured El Salvador for 5 days, traveling from 1 extremity of the state to the other. The delegation met with aggregate section authorities officials to get an knowing of what the emerging exertion was achieving.

“What we witnessed successful El Salvador is precise utile successful our efforts to promote much enactment and knowing for integer assets and emerging technologies present successful South Carolina,” said Dennis Fassuliotis, president of the South Carolina Emerging Technologies Association (SCETA), per the release.

Loftis was precocious tasked by the General Assembly to research the continued improvement and imaginable adoption of bitcoin. The State Treasurer was meant to place methods to question much stakeholders crossed the authorities portion showcasing benefits from the accrued utilization of bitcoin and cryptocurrencies.

“We heard aggregate stories astir however thoroughfare vendors person embraced this exertion and importantly grown their businesses arsenic a result,” said Fassuliotis. “While determination are a fig of variables to consider, it’s breathtaking to ponder the prospects of however South Carolinians, particularly those successful our agrarian communities, mightiness besides payment from utilizing Bitcoin.”

Furthermore, Loftis and different members of the delegation witnessed Mi Primer Bitcoin’s acquisition programme assistance students recognize and instrumentality the usage of bitcoin with a absorption connected fiscal literacy.

“El Salvador is simply a rapidly evolving state that has taken an assertive attack to alteration a mostly unbanked colonisation into 1 that is present embracing the usage of Bitcoin,” said Treasurer Loftis.

Treasurer Loftis said that helium paid for this travel retired of his ain pocket, noting that nary payer dollars were utilized to money the delegation.

Moreover, from October 5-7, 2 of El Salvador’s apical ministers volition beryllium presenting connected the interaction bitcoin has made for the state astatine the South Carolina Bitcoin Blockchain Week conference.

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