The Rodrix Digital channel published a video with a conversation involving the federal deputy from Brazil, Áureo Ribeiro, and the deputy from El Salvador, Dania Gonzalez.
The current president of El Salvador has been talking about Bitcoin on Twitter since 2016, so the country’s adoption was not a “shot in the dark” in the heat of the moment. The origin of Bitcoin in El Salvador was through social projects, which brings Bitcoin closer to the population of El Salvador.
In Brazil, the issue of Bitcoin, in the legislative field, began in 2015 and is pending approval after seven years of discussion. The shift in attention to the topic occurs alongside the growth of well-known cryptoeconomics.
According to Rodrix Digital, host of the channel that bears that name, one of the barriers to entry for the use of Bitcoin is the technical knowledge for its use. “El Salvador came face to face with this problem. The strategy was to spread the necessary content with traditional media so that everyone had access to a step-by-step guide on how to use their digital wallet. In addition, everyone has access to Bitcoin, however, without the possibility of withdrawing in dollars, ”he noted.
“The idea? Make the population have access to how to carry out Bitcoin transactions, without transaction costs. The practice of buying would lead the population to overcome this mentioned barrier”, he added later.
He also reflected: “In Brazil, it was necessary to create an environment with the necessary legal certainty to separate the crypto market from fraudsters who use the ignorance of some people to apply fraud. This demand is evident when we see the increase in the use of cryptocurrencies for transaction purposes, not just reserves.”
Before talking about taxation, Brazil aims to solidify the legal framework for cryptocurrencies, which would allow “each state to have its own cryptocurrency.” The idea, still, is not to surprise users with surprise taxes, but to make Brazil a reference in terms of attractiveness in the use of cryptocurrencies.
El Salvador, capital of the legal use of Bitcoin, has also been concerned with the internationalization of its adoption, with a project that would allow the purchase of public securities using Bitcoin. “The project is to make purchase possible using the nature of Bitcoin: no matter where, no matter for whom. With this, even a non-resident of El Salvador will be able to easily buy these securities through Bitcoin,” said Rodrix Digital.
“What Nayib Bukele did was buy bitcoins and make a profit at a certain strategic moment. In cryptocurrencies there are times when you can make a profit and there are times when you have to invest more. Now the cryptocurrency is in decline, this happens, it’s normal, but at this point instead of being sad, instead of thinking that you lost all your investment, it’s time to buy more bitcoins because now the price is cheap, that’s the strategy ”, commented the deputy Dania González, from El Salvador
What El Salvador and Brazil have in common is the need for political agents and institutions to accept this idea. Legislative and political obstacles slow down the process, which is why a clear project with much discussion is necessary.
“An opportunity was opened for independent merchants to have a new payment gateway, because the payment channels can be in cash or they can be credit or debit cards. But if you go to a bank and want to request the POS to accept credit or debit payments, you pay a membership fee, you pay a commission that can be up to 9% for each purchase and with Bitcoin it is totally decentralized financing, there is no commission if you use the national wallet”, highlighted Dania González
You can watch the full discussion below:
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