El Salvador brought 44 countries to Bitcoin

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  • El Salvador this week hosted central bankers and financial authorities from 44 countries for an event on financial inclusion.
  • All participating members were able to upload their own Bitcoin wallets and make purchases with BTC.
  • In July 1944, 44 countries came together to determine the Bretton Woods financial system. Once again, 44 countries came together to learn a new system.

On May 15, Salvadoran President Nayib Bukele announced that 32 central bankers and 12 financial authorities from 44 countries would gather in his country for an event on achieving financial inclusion and banking the unbanked through the economy. bitcoin digital.

The event, organized by the Central Bank of El Salvador and known as the Digital Financial Services Working Group and the SME Finance Working Group, focused on financial inclusion after a hiatus in two years due to the COVID-19 pandemic. All participating countries are members of the Alliance for Financial Inclusion (AFI).

However, doubts have been cast about the event’s relationship to Bitcoin – and if there was any in the first place.

A Bitcoin event?

Galoy, the open-source software company that developed the Bitcoin Beach wallet, wrote a blog post titled “Central bankers were definitely not coming to El Salvador to discuss Bitcoin,” responding to comments that Bukele’s statements could distort the intent of the event.

The blog post features a number of photos from the event showing many attendees actively learning about and enjoying the Bitcoin ecosystem, putting these accusations of misrepresentation to bed.

Bitcoin Beach community leaders Roman Martinez (Chimbera) and Nicolas Burtey share the story of the initiative and give an introduction to Bitcoin and the Lightning Network at the event.

Outside the conference room, the Bitcoin Beach Wallet team shows attendees how to download and use a Lightning wallet.

Outside the conference room, the Bitcoin Beach Wallet team shows attendees how to download and use a Lightning wallet.

After installing the Lightning wallets, participants were able to begin transacting in bitcoin, and some opted to purchase coffee and coconuts from this particular vendor.

After installing the Lightning wallets, participants were able to begin transacting in bitcoin, and some opted to purchase coffee and coconuts from this particular vendor.

“Twitter has been on fire with messages about whether or not this was a Bitcoin event. It wasn’t – it was a financial inclusion event. Bitcoin happens to be the most inclusive financial network in the world,” according to Galoy’s blog.

Even the AFI dispelled these concerns over its website addressing the event, saying, “The meetings also align with El Salvador’s recently launched National Financial Inclusion Strategy, which prioritizes digitalization and access to finance for small businesses.”

A visit to Bitcoin Beach

On May 19, the last day of the event, 90 central bankers and financial authorities from all participating countries traveled to Bitcoin Beach in El Zonte, Salvador so they can download their own bitcoin wallets and experience a new financial system with their own hands.

After financial authorities discovered bitcoin, they couldn’t help but gather for a commemoration video and photo shooting where they can be heard shouting “Bitcoin!” in the middle of the beautiful landscape of El Zonte.

Vendors who attended the event were thrilled to be involved, and one fruit vendor in particular Noted that central bankers “seemed excited about how we are using BTC in the region.” Speaking of sellers, the bitcoin loot sold for BTC to participants quickly ran out, and the Bitcoin Beach Twitter account made sure to remember to bring more products for a possible next gathering.

At least some of the bankers will experience a more refreshing – and Bitcoiner – casual friday this coming weekend.



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