This is an opinion editorial by Nazar Taras, head of content and partnerships PowerInside.
You want to pay your taxes in Colorado with bitcoin? No problem. You want to buy a beach property in El Salvador with bitcoin? Come on over. You want to send money abroad without paying banks’ high fees? There is an app for that, and your grandma will instantly have the money in her bitcoin wallet.
At the Bitcoin Amsterdam conference this month, government representatives took center stage, telling people to come and see for themselves how bitcoin adoption is impacting their countries.
Deputy Ambassador of El Salvador to the Kingdom of the Netherlands, Hector Enrique Celarie Landaverde, credited bitcoin with helping the nation chart a new course for “peace, education and prosperity.” After bitcoin became the nation’s legal tender in September of 2021, the GDP grew at a record 10.3%, while income from tourism surged 52%. Previously unbanked, 70% of the population is now stepping into the digital age, making online financial transactions for the first time.