A Global Gathering in El Salvador
This week, 44 central bankers representing developing nations have made their way to sunny El Salvador. They aren’t here just for the tacos and sunbathing (although a bit of both wouldn’t hurt); they’ve come to delve deep into the world of financial inclusion and, wait for it, Bitcoin! Yes, the digital currency that’s been making waves faster than a kid on a slip-n-slide.
An Invitation from Presidente Bukele
President Nayib Bukele rolled out the red carpet (probably via Twitter, but who’s counting?) for central bankers from Ghana to the Maldives to join him in San Salvador. The conference is organized in collaboration with the Alliance for Financial Inclusion, and it’s set to run for three enlightening days. Douglas Rodríguez, head of El Salvador’s central bank, has expressed pride in hosting such esteemed guests, emphasizing the lessons in Bitcoin implementation and promoting financial inclusion.
Learning the Bitcoin Basics
What’s even more intriguing is that many delegates are reportedly coming in with less knowledge of Bitcoin than a toddler with a new toy. Nicolas Burtey, co-founder of Galoy Money, is there to educate them, explaining that central bankers are eager (okay, maybe slightly confused) to learn about the potential of Bitcoin. He even hilariously noted, “We can’t onboard the central banks fast enough to #bitcoin with the BTCBeachWallet.” It’s safe to say he’s quite the Bitcoin cheerleader.
The Seeds of Change
In true Bukele fashion, he tweeted about “planting seeds” among the attendees, signaling a push for more countries to embrace Bitcoin. While right now only two countries—El Salvador and the Central African Republic—have recognized Bitcoin as legal tender, the hopes are growing faster than a chia pet. The conference’s focus is not just on the cryptocurrency but also on ways to bank those who have been left out of the financial system.
A Seriously Funny Conference
On a lighter note, as serious discussions ensue, Bitcoin enthusiasts are quick to poke fun at the whole affair. Gigi, a Bitcoin writer, tweeted humorously, “If they keep using Bitcoin they won’t be central bankers much longer!” A solid punchline that highlights the sometimes tumultuous path of adapting to this new financial landscape.
