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Advisor To President Of Colombia Calls Bitcoin “Most Sensible Piece of Software program Ever”

08/16/2021

Jehudi Castro Sierra, Advisor To Iván Duque Márquez, The President of Colombia, Calls Bitcoin The “Most Sensible Piece Of Software program Ever”

Jehudi Castro Sierra, Advisor to the President of Colombia, known as Bitcoin the “most good piece of software program ever,” in an interview with CyptoPotato.

Through the interview, Sierra Castro clarified that his job is to advise the President on all issues associated to expertise and digital transformations. In that mild, the nation has develop into extra centered on Bitcoin.

“I approached Bitcoin as an incredible open-source undertaking. After a while, I additionally acquired within the financial innovation that it represents, and I’m nonetheless discovering wonderful new issues daily,” Sierra Castro mentioned through the interview.

He continued, “Presently, one of many most important focuses is round cryptocurrencies. We’ve got an modern sandbox the place we enable exchanges to succeed in the residents in a straightforward and safe method. The thought is with the data collected on this sandbox to have a pleasant regulation that incentivizes innovation and attracts funding.”

Castro Sierra confirmed the depth of his understanding of Bitcoin by speaking concerning the 50% drop in hash charge in wake of China’s mining ban. He famous that the community “reacted because it’s alleged to,” elevating the likelihood that miners who remained on the community and plugged in through the migration would succeed. The hash charge has since recovered, he identified.

Castro Sierra additionally spoke to El Salvador’s Bitcoin adoption. He known as it a “daring transfer.” He didn’t communicate as to whether the nation of Colombia would contemplate adopting Bitcoin as authorized tender.

The Advisor’s bullish feedback come within the wake of a Summer season of South American international locations, similar to Paraguay and Argentina confirmed an curiosity in Bitcoin adoption and mining as a hedge in opposition to rampant inflation, and in offering renewable sources of energy for miners migrating out of China.