Adopting Bitcoin kicks off with over 1,000 participants

At least 1,000 renowned speakers, foreign investors, and tourists interested in bitcoin participated in the first event of Adopting Bitcoin, a space that seeks to promote cryptocurrencies and make El Salvador known as an ideal place to invest.

Noor El Bawab, co-organizer of Adopting Bitcoin, explained that the event responds to the impact that the adoption of bitcoin has had in El Salvador and throughout the world, as the number of people who have access to cryptocurrencies is increasing.

“Education is a fundamental part of the adoption process. That is why events like Adopting Bitcoin aim to show the full potential behind this technology,” she indicated.

In this sense, yesterday the attendees had the opportunity to access a panel made up of different experts in the crypto world who developed topics such as the execution of identity protocols, custodians, and the speed of transactions in the blockchain.

Likewise, other presentations focused on exposing the progress that the country has made in the adoption of bitcoin after it circulated as legal tender for a year.

To explain this last topic, the representatives of crypto companies established in El Salvador, such as Ditobanx, Bitrefill, Paxful, and Alphapoint, mentioned some of their experiences and growth data from 2021 to 2022.

«One year after the adoption of bitcoin, we have 65 crypto companies registered in the country. In addition, we have seen an increase in the use of digital wallets, in the knowledge of bitcoin and in the understanding that the cryptoactive is not only for “trading”, but a financial tool,” said Guillermo Contreras, CEO of Ditobanx.

On the other hand, Tristan Thomas, a representative of Alphapoint, highlighted that as a company they have seen an increase in the use of blockchain platforms within the territory, the result of an education process that is being built.

«We have a lot of visibility of bitcoin, that is also due to what has been done to educate the population in the use of platforms by organizations such as Mi Primer Bitcoin. Many people have started using bitcoin to make transactions, as a financial tool,” he explained.

Patrick Geyea, a British attendee at the event, commented that he first visited the country eight months ago, seeking to learn about the crypto ecosystem. His vision is to develop a Lightning transaction platform, so he considered that visiting El Salvador would be a valuable experience for him.

«My experience in El Salvador has been very valuable, I think incredible things are happening here. Now, in Adopting Bitcoin I hope to develop more skills to support a massive use of cryptocurrencies”, he indicated.