Central bankers attend BTC conference in El Salvador
17 May 2022
Central bankers from developing countries around the world are taking part in a conference in El Salvador this week, to talk about Bitcoin, financial inclusion and financing for small and medium-sized businesses.
On invitation from President Nayib Bukele, central bank delegates from the Maldives, Ghana, Costa Rica and many more have arrived in El Salvador.
The conference will take place over three days, organised by the Alliance for Financial Inclusion, together with El Salvador’s central bank. Head of the bank, Douglas Rodríguez said on Twitter: “El Salvador is proud to receive representatives from 44 central banks and financial authorities to learn about the implementation of Bitcoin and policies to promote Financial Inclusion.”
Whereas President Bukele tweeted he was “planting seeds” amongst the 44 banking delegates in regard to Bitcoin.
Also attending the conference are the people behind the so-called Bitcoin Beach project. El Zonte – so-called Bitcoin Beach – was the birthplace of the Bitcoin law, Cointelegraph reports, which led El Salvador to become the first country to adopt the world’s largest cryptocurrency as legal tender.
The co-founder of Galoy Money – the firm that built the Bitcoin Beach wallet - Nicolas Burtey commented: “After spending a day with those central bankers, I can say: still a lot of education to do.”
He added: “[The] vast majority have no idea of the potential of Bitcoin. But with El Salvador adopting Bitcoin, they now have a reason to dive into it.”
However, the Bitcoin Beach wallet team showed the bankers show to use Bitcoin Lightning wallets and send payments, and Burtey subsequently tweeted: “We can’t onboard the central banks fast enough to #Bitcoin with the BTCBeachWallet.”
As it stands, just El Salvador and the Central African Republic are the only two countries to recognise Bitcoin as legal tender.