South Carolina State Delegation Visits El Salvador to Study BTC Use

A group of government officials and entrepreneurs from the state of South Carolina visited El Salvador to study the practical side of accepting bitcoin as a means of payment.

During their visit, entrepreneurs and municipal employees from the United States met with business representatives and government officials from El Salvador. They collected information about the legislative and administrative measures that the government of the country used to ensure the acceptance of bitcoin as legal tender, as well as to inform citizens about the possibilities of using it.

“The experience of El Salvador is very helpful in understanding the direction of our efforts to introduce digital assets and new technologies in South Carolina. We learned how merchants have taken advantage of the new technology and have dramatically expanded their business as a result. We look at how South Carolina residents can benefit from bitcoin,” said South Carolina Emerging Technology Association (SCETA) President Dennis Fassuliotis.

At the behest of the South Carolina General Assembly, State Treasurer Curtis Loftis also visited El Salvador. Previously, his office was tasked with studying the development and adoption potential of digital assets in El Salvador, as well as identifying ways in which South Carolina individuals, businesses and governments can benefit from new technologies.

“The goal was to see how this bold initiative works, and I was pleasantly surprised. El Salvador has taken an aggressive approach to transforming a largely unbanked population into a population that now uses bitcoin. I have spoken to many small business owners and they remain interested in bitcoin and hope that the expansion of its use will continue,” Loftis said.

Recall that September 7 marks exactly one year since El Salvador became the first country in the world to accept bitcoin as legal tender.

Source: Bits

You may also like

What will happen to the price of XRP
Top News
David

What will happen to the price of XRP

The price of XRP has recently fallen, despite the growth of purchasing activity. Over the past day, Ripple has lost