Colombian President Gustavo Petro welcomed a delegation of Bitcoiners, led by JAN3 CEO Samson Mow, to explore opportunities for Bitcoin adoption projects in the country. The delegation, including prominent figures like Mauricio Tovar and Diego Gutiérrez Zaldívar, presented proposals, with a focus on utilizing flare gas for Bitcoin mining to reduce CO2 emissions. President Petro, known for his environmental advocacy, expressed interest in the potential of Bitcoin to empower marginalized communities. Discussions encompassed key areas for accelerating Bitcoin initiatives, such as integrating Bitcoin into a major refinery. The President, acknowledging the importance of regulatory clarity, recorded a video endorsing Bitcoin's potential for prosperity and pledged to establish government working groups. The delegation will now present proposals for mining operations using flare gas and engage communities interested in Bitcoin initiatives, aiming to position Colombia as a leading Bitcoin hub in South America.
BOGOTA, Colombia, Dec. 20, 2023 /PRNewswire-PRWeb/ -- Colombian President Gustavo Petro welcomed a delegation of Bitcoiners, led by JAN3 CEO Samson Mow, after expressing his openness to hear proposals on how the country can take advantage of its natural resources and economic position in the region to kickstart new Bitcoin adoption projects.
Following his trip to Suriname, Mow was invited to the presidential palace, Casa de Nariño, along with JAN3 members Edwin Rivas and Raúl Velásquez, and joined by Mauricio Tovar and Diego Gutiérrez Zaldívar. The delegation presented an analysis of which areas Colombia should look towards to accelerate Bitcoin initiatives. Besides highlighting the importance of Bitcoin's technological breakthrough for the president, Mow also brought up the possibility of using flare gas to power mining operations.
President Petro, who is a known advocate of environmental causes, instantly took interest in the subject as flared gas energy used in Bitcoin mining can reduce CO2 emissions by over 60%. The project was identified as one of the areas in which Colombia could make strides faster by introducing a Bitcoin component into one of the country's largest refineries. Colombia's earnings from oil are expected to reach $37.7b in 2023 (2.6%), with the state-owned Ecopetrol being the biggest contributor to those figures.
Despite that, President Petro's biggest concern was how Bitcoin could be used to empower marginalized communities, with the Bitcoin delegation quickly pointing out how the currency's open and neutral nature emphasizes just that. Mow argued that "for the first time in history Bitcoin allows for a person in a remote village to use the same kind of money a billionaire in New York uses."
The JAN3 team specifically told the president how in recent months they had been approached by communities in La Guajira and its vicinities that were already interested in exploiting the energy potential of the region, using Bitcoin as a monetary incentive that can partly fund these projects in parts of the country where electricity demand is not always as high. JAN3 believes that the national government's approval of these initiatives will fuel further interest from the indigenous communities involved.
Mow, Tovar, and Gutiérrez discussed regulation, as Colombia's past attempts to draft laws involving Bitcoin are yet to pay off. In that regard, the delegation made clear that while this is a loftier goal involving many branches of government, the topic will be crucial if Colombia is to launch itself as South America's leading Bitcoin hub.
The one-hour meeting finished with the President recording a brief video message where he described Bitcoin as a tool that is "promising for the prosperity of the people," vowing also to establish working groups within the government to explore all these ideas. At the same time, President Petro was keen on seeing grassroots communities and worker cooperatives embrace Bitcoin in their day-to-day economies.
When asked about the political implications of Petro's statement, combined with the President's ideology, Mow, known for his involvement in nation-state Bitcoin initiatives around the world, considered that "Bitcoin is for everyone. Regardless of politics, today the president showed himself to be very open to listen to what Bitcoin can do for his country. His interest is in helping Colombia benefit from Bitcoin."
Gabriel Angulo Anaya, Banco Agrario de Colombia's VP of Technology, also attended the meeting, where he mainly addressed the importance of regulatory clarity, saying that this could make it possible for Colombia's largest banks to integrate Bitcoin into their services one day.
At the behest of the Presidency, JAN3 and the rest of the delegation will now move on to presenting Gustavo Petro and relevant parties with a proposal to start mining operations using flared gas, as well as contacting potential communities or cooperatives eager to follow up on the President's intentions. Aside from these efforts with the planned commissions, JAN3 will also continue to explore ways in which Colombia can use Bitcoin to gain a strategic advantage that can boost the nation's development.
About JAN3
JAN3 is a digital infrastructure company focused on expanding access to Bitcoin technology, founded and led by Samson Mow, best known for his efforts in nation-state Bitcoin adoption around the world. JAN3's mission is to accelerate hyperbitcoinization by providing tools for individuals, autonomous regions, and sovereign nations to benefit from a free and open financial system based on Bitcoin.
Media Contact
Raúl Velásquez, JAN3, 503 77618373, [email protected], https://jan3.com/
SOURCE JAN3
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