Samson Mow urges German lawmakers to adopt Bitcoin

Samson Mow, founder of the Bitcoin-focused company JAN3, recently addressed the German Bundestag in an effort to push for the state to adopt Bitcoin, thereby pushing for “hyperbitcoinization” sooner in order to live in a future where Bitcoin becomes in the currency of all the citizens of the world. of choice.

Grassroots efforts are accelerating, but the founder warns that only state-level adoption will achieve the fiat-free world that many want to see. To date, El Salvador remains the only country that legalizes bitcoin as a legal form of currency, a constant theme of a state that rejects recognition, leading it to be the largest opposition in the space.

The 3 step strategy

Mow suggested a three-step plan for countries’ adoption of Bitcoin, starting with placing Bitcoin in national treasuries, issuing bonds backed by Bitcoin, and declaring it legal tender. This approach is part of the varying degrees of political will. Its current emphasis on Germany marks the biggest step it has taken the discussion to Europe, which has significant economic power that could serve as a precedent for other nations to do the same.

Bitcoin is now trading at $68,393. Chart: TradingView

Mow’s attempt to adopt Bitcoin in Germany

Mow’s appearance before the Bundestag made headlines, especially by Joana Cotar, a member of Parliament who last November co-sponsored a bill to establish Bitcoin as legal tender. There are very few reports on details that Mow could have discussed.

However, the topics were reportedly the “possibilities of Bitcoin adoption by a nation-state.” If Germany takes decisive steps to adopt it, then the move would reignite greater conversation about the place of digital assets in the modern economy, especially within the European Union.

Global momentum and current challenges

For countries outside Europe, Mow has met with many policymakers around the world, including Japan’s Financial Services Minister Junichi Kanda and Colombian President Gustavo Petro. Its efforts around the world are aimed at fostering recognition at the state level, making Bitcoin a viable economic policy. For example, after his visit, the Colombian government created blockchain working groups.

However, the path to “hyperbitcoinization” It’s not that easy. El Salvador’s adoption has received international scrutiny and so far no follow-up has been seen in other countries. Although Mow conquers time and space by spreading awareness and discussing the potentiality of Bitcoin at the highest level, there is still a lot of resistance.

Mow’s relentless lobbying, like his speech to the Bundestag, is proof of the state’s relentless effort to officially recognize Bitcoin. More and more countries will venture into this possibility of adoption by a nation-state, making the dream of hyperbitcoinization even closer, even in the midst of obstacles.

Featured image from Pexels, chart from TradingView



Source link

Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.

Leave a Comment