The adviser to the President of Colombia shares his opinion about Bitcoin, and also comments on the position of his country regarding the asset.
Since El Salvador made history by announcing its intention to accept Bitcoin as a legal means of payment, the situation in this regard in the region of Central and South America has changed.
Other countries, such as Paraguay and Argentina, have dabbled in this idea, but have not yet made real progress.
Another country from the Latam region, whose citizens were openly interested in BTC, is Colombia.
A brilliant innovative project
During an interview, Castro Sierra, an adviser to the President of Colombia, explained that he is not a politician, but a programmer who approaches the flagship cryptocurrency from this point of view.
His career is closely connected with the software industry, which introduced him to Bitcoin many years ago. In fact, he called the cryptocurrency "the most brilliant software in the world."
To prove his point, Castro Sierra touched on the recent processes of production regulation. After China came out against BTC miners and ordered them to close, the hash rate fell by more than 50% in a month. The network reacted properly, which made it easier for active miners to do their work, while the exiled ones migrated. Thus, the hashing speed has largely recovered.
"I approached Bitcoin as a great open source project. After a while, I also became interested in the monetary innovations that they represent, and I still discover new amazing things every day."
Bitcoin in Colombia
Stressing that he is not an ordinary politician, Castro Sierra explained his connection with the political scene in Colombia. He is also the technical director of the presidential campaign, deputy minister, and now an adviser to the president.
However, he explained that his role is completely related to technology and digital transformation. As part of various projects related to these two areas, Castro Sierra spoke about some of the achievements achieved so far, and said that the country has focused on BTC and other virtual currencies.
"Currently, one of the main areas of activity is cryptocurrencies. We have an innovative sandbox in which we allow exchanges to easily and safely reach out to citizens. The idea is to use the information collected in this sandbox to create a friendly regulation that encourages innovation and attracts investment."
Castro Sierra also shared his thoughts on El Salvador's adoption of BTC, calling it a "bold step". He acknowledged some potential risks, but ultimately believes that this will " bring new investments."