Colombia and El Salvador agree to cooperate through the use of Bitcoin
The Government of El Salvador and the Ruta N Corporation of Medellín in Colombia have signed an agreement between entities that will allow the development of projects through the Bitcoin (BTC) cryptocurrency. This agreement arises as part of the working tour of Colombia carried out by the delegation of El Salvador, led by the Deputy Minister of Foreign Affairs, Adriana Mira, and aims to benefit entrepreneurs, government collaborators and the population of both nations through the exchange of experiences.
The Ruta N Corporation has set itself the goal of promoting close to 1,000 technology-based projects by 2022, in order to "bring innovation to every corner of the city so that any entrepreneurship has the tools to succeed", says the organisation.
The rapprochement of positions between El Salvador and Colombia will allow both the public and private sectors to share notions on a technological basis. "President Nayib Bukele, through innovation projects, is committed to the creation of smart cities that are environmentally friendly and allow the welfare of people through technology and connectivity," the statement said.
The Innovation Secretariat will participate in entrepreneurship programmes through the Medellín Public Company, so that both organisations "will build a work sheet based on the main needs for development in El Salvador, including areas of water, education and innovation", announces the statement from the Ministry of Foreign Affairs of El Salvador.
After formalising the agreement, the diplomatic tour of the representatives of El Salvador continued at the Centre for the Fourth Industrial Revolution of Colombia, which is especially oriented to innovation projects, such as financial inclusion, the implementation of Bitcoin and the digital agenda through private financing.
"With the support of the C4IR it will be possible to access sources of funding through private investment for the implementation of innovation projects, specifically on Bitcoin, financial inclusion, digital agenda, and other priority issues for the country of El Salvador," said Adriana Mira.
The technological support provided by the C4IR will enable the dynamisation of different Bitcoin-driven projects, benefiting both the economic and social spheres.
Colombia's second most populated city has a Blockchain Centre in the El Poblado area, through which training and knowledge is provided to encourage investment and development of the Bitcoin ecosystem and other cryptocurrencies.
The new financial system emerging with the cryptocurrency is also affecting the country's local authorities. The mayor's office of Medellín is promoting entrepreneurial innovation in order to promote science and technology as a means of personal development among citizens. For this reason, they have reached agreements with companies such as Rutani, a blockchain network that has emerged with the aim of promoting technological exchange.
The aim of implementing this new technology is to provide financial support through loans to entrepreneurs who promote social interest and provide services to the community. This alternative can provide knowledge to overcome some of the social barriers in Colombia.
Coordinator for the Americas: José Antonio Sierra.
