On September 24, Bitcoin promotion leaders from the El Salvador Bitcoin Office and Plan ₿ and Lugano gathered at Tempo House, a crypto community in Taipei. They will share their valuable experience in global Bitcoin education promotion and innovative applications, and discuss how to accelerate the development of the Bitcoin ecosystem in Taiwan. develop. (Preliminary summary: World Chain will be launched: search engine Dora, cross-chain protocol Hyperlane, and payment platform Bridge have been integrated.) (Background supplement: 20,000-word research on encrypted payment: from electronic cash, tokenized currency, to PayFi Big Future) Driven by El Salvador President Nayib Bukele, El Salvador officially listed Bitcoin as legal tender in September 2021 and actively promoted a number of Bitcoin policies, including developing wallets and launching an investment citizenship program. , seeking to issue Bitcoin volcano bonds, invest in Bitcoin every day, use volcanic geothermal energy to mine Bitcoin, etc., to become the world's first "Bitcoin country"! The soul of Bitcoin in El Salvador will come to Taiwan! On September 24, Bitcoin promotion leaders from the El Salvador Bitcoin Office and Plan ₿ and Lugano gathered at Tempo House, a crypto community in Taipei. They will share their valuable experience in global Bitcoin education promotion and innovative applications, and discuss how to accelerate the development of the Bitcoin ecosystem in Taiwan. development, and talk with the Bitcoin community and developers in Taiwan to talk about the future of Bitcoin! The heavyweight guests are as follows: Mario Flamenco (International Promotion Director of the Bitcoin Office of the Presidential Palace of El Salvador): Mario is a representative of the National Bitcoin Office of El Salvador (ONBTC), focusing on promoting the international education and promotion of Bitcoin. He has participated in programs such as CUBO+, This is a project aimed at training young people in El Salvador to enter the Bitcoin industry and providing participants with internship opportunities with world-renowned Bitcoin companies such as Bitfinex and Strike. Mario will share El Salvador’s experience in promoting Bitcoin education and economic transformation. Oleg Mikhalsky (Partner of Fulgur Ventures, Fund Manager of Lugano Plan B): Oleg manages a 100 million Swiss franc fund focusing on the Bitcoin and Holepunch ecology, and operates a new innovation collaboration space in Lugano, Switzerland, committed to supporting related new innovations. Start a business. The focus of his visit to Taiwan is to promote the connection between Taiwan's new startups and the Lugano community, especially investment and cooperation in Bitcoin and decentralized technology applications. Ajelex (Global Expansion Director of Plan B Network): Ajelex is responsible for Plan ₿ Network’s global Bitcoin education promotion and is committed to expanding Bitcoin communities and education around the world. His trip will focus on how to promote Bitcoin education and hold relevant events in Taiwan. Meetup activities, and use Plan B’s global community resources to further expand the popularization and application of local Bitcoin knowledge. Want to meet face-to-face with the world’s top Bitcoin leaders? Register now (this event is subject to review) https://lu.ma/planbmeetup Plan ₿ is an innovative plan jointly promoted by the Lugano Municipal Government and Tether, aiming to use Bitcoin technology to transform the city’s financial infrastructure . The core goal of this plan is to extend the application of blockchain and Bitcoin to daily life in the city of Lugano. From daily transactions of small merchants to major financial activities, such as paying taxes, Bitcoin technology will be used to conduct. Historical Background The Republic of El Salvador (República de El Salvador) is located in northern Central America, with a total population of approximately 6.82 million (2021). Its domestic economy is dominated by agriculture, mainly producing coffee and cotton, and has small businesses such as textiles, cigarettes, and beer manufacturing. Industry is concentrated in the capital city of San Salvador and adjacent areas. The initial legal currency of the country was the Salvadoran Colon (SVC), but the government set the legal currency to the US dollar on January 1, 2001, and the central bank no longer issued Colon; however, Colon can still continue to be traded in the market In circulation, the exchange rate is fixed at 8.75 colones per US dollar. During this period, El Salvador’s monetary policy was deeply influenced by U.S. economic policy, and there were many internal financial problems, such as high remittance costs, poor financial inclusion, inflation, etc. Listing Bitcoin as a legal currency In this regard, the Samuta government regards cryptocurrency as a new opportunity to solve the problem. And on June 5, 2021, President Bukele announced the expansion of Bitcoin as legal tender. Subsequently, the National Assembly resolved to pass the "Bitcoin Law" (Ley Bitcoin), making El Salvador officially the world's first on September 7 of the same year. Countries that use Bitcoin as legal tender. In order to further enhance the legal status of Bitcoin, the country established the National Bitcoin Office at the end of 2022, which is responsible for managing all projects related to cryptocurrency. Promoting multiple policies At the beginning of 2023, the El Salvador Parliament also approved a bill on the "Issuance of Digital Assets", which allows the public issuance and transfer of digital assets. It not only establishes a legal framework for digital assets, but also lays down a legal framework for the issuance of Bitcoin bonds. Base. President Bukele of El Salvador has also spared no effort to actively promote a number of Bitcoin policies, including developing a nationally designed encryption wallet, launching an investment citizenship program (investing 1 million US dollars in Bitcoin or USDT, you can obtain a residence visa and citizenship), issuing $1 billion Bitcoin Volcano Bond. Volcano geothermal mining for Bitcoin. Driven by Nayib Bukele, El Salvador installed 300 mining machines at a state-owned power plant near Tekapa Volcano to use the geothermal energy provided by the volcano to mine Bitcoin. Since September 2021, El Salvador has successfully mined approximately 473.5 Bitcoins, worth nearly $29 million, using electricity provided by geothermal energy, Dongzhong reported in May. It is reported that of the 102 megawatts of electricity generated by El Salvador’s state-run thermal power plants, 1.5 megawatts are dedicated to Bitcoin mining. Bukele, a daily Bitcoin investor, announced at the end of 2022: "We will continue to buy one Bitcoin every day until it becomes unaffordable to buy Bitcoin with legal currency." The National Bitcoin Office of El Salvador also announced on May 13, 2024 Announced cooperation with mempool to launch a website dedicated to tracking the government’s Bitcoin reserves. According to the website’s records, the El Salvador government has indeed implemented a policy of investing 1 Bitcoin per day. El Salvador is set to invest 1 Bitcoin per day. (Picture: Bitcoin Office) Outside Views In the past, international authoritative institutions generally held a pessimistic attitude towards the country’s decision to classify Bitcoin as a legal currency and were not optimistic about its future development. However, outside opinions now seem to be gradually changing. IMF: El Salvador’s Bitcoin policy poses “significant risk” The International Monetary Fund (IMF) stated in a statement in November 2021 that El Salvador should not use Bitcoin as legal tender, and that Bitcoin is not suitable for consumer protection, Financial integrity and financial stability pose "significant risks". Therefore, it is recommended that El Salvador implement stronger and more effective measures immediately...

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