44 countries met in El Salvador to discuss financial matters

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Most of the central banks and financial authorities present come from Africa The continent is lagging behind in terms of adoption and use of cryptocurrencies compared to Europe, America and Asia It has been more than seven months since El Salvador made Bitcoin its legal tender, a decision that, according to President Nayib Bukele, it is for the good of the citizens. This was despite being told by monetary institutions such as the IMF to be careful and despite strong opposition from a faction in El Salvador. During this period, the Republic Central African followed suit by adopting Satoshi currency as an officially accepted form of currency, the first in Africa. El Salvador President Bukele met with representatives on Monday central banks and financial institutions of 44 different countries, as he himself said in a tweet on Sunday. “Tomorrow 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking services for those who do not have a bank, launch of Bitcoin and its advantages in our country “, wrote Bukele on Twitter. Some of the participating countries are Paraguay, Honduras, Kenya, Pakistan, Costa Rica, Egypt and Nigeria. Adoption of bitcoin in other countries Since its launch in 2009, several governments around the world have been skeptical of Bitcoin’s ability to act as a medium of exchange. This is especially true for most African countries, which have undergone several restrictions and warnings from their financial institutions on the entire crypto revolution. El Salvador adopted this currency almost a year ago, the conference could lead to a change in the perception by some of the countries present. Better yet, it can make them adopt favorable policies that can lead to a better attitude towards cryptocurrencies and even more towards Bitcoin as it has proven more reliable than other crypto assets. Despite receiving some level of criticism, Bitcoin is still held by several publicly traded companies around the world as part of the corporate treasury in their coffers. This could work in favor of promoting Bitcoin as a medium of exchange. Finally, El Salvador is building its first ever Bitcoin city. The construction of this city on the south coast of the country will be entirely financed by the sale of Bitcoin bonds. The city will be powered by geothermal energy from a nearby volcano which will also be used to mine Bitcoin.