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“Bitcoin is the most ingenious piece of software”

Now the adviser to the Colombian President speaks up and speaks very positively about Bitcoin and also describes his country’s political stance on the digital asset.

El Salvador has kicked off a real wave by announcing that they want to introduce and accept Bitcoin as legal tender. Other South and Central American countries such as Paraguay and Argentina already have similar ideas, but implementation there is still stuck.

And, of course, Colombia is also very open to Bitcoin, as the Colombian President’s advisor said in an interview.

Castro Sierra is closely associated with the software industry that introduced him to Bitcoin years ago and describes himself as a geek.

“The Most Brilliant Piece of Software Ever”

Castro Sierra called the Bitcoin.

Of course, he justified his position with a few arguments.

On the one hand, he sees the adjustments to the mining process as very positive. After China took action against BTC miners, the hash rate collapsed by more than 50% within a month. This in no way harmed the network in the long term, because it has adapted itself to the situation. It made the job of active miners easier while the outcasts left, allowing the hash rate to largely recover.

“I saw Bitcoin as a big open source project. After a while, I also got interested in the monetary innovation it represented, and I still discover amazing new things every day. “

Castro Sierra sees his role in the context of technology and digital transformation. With various projects related to these two areas, Castro Sierra outlined some of the progress made so far, saying the country is focused on BTC and other virtual currencies.

He may not be a politician, but he is a very influential man. Among other things, he was CTO of a presidential campaign, deputy minister and is now an advisor to the president.

“Right now, one of the main focuses is on cryptocurrencies. We have an innovative sandbox in which we enable exchanges to reach citizens in an easy and safe way. The idea is to use the information gathered in this sandbox to create a friendly regulation that creates incentives for innovation and attracts investment. “

Image via Publicdomainvectors / License

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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