Showing posts with label Colombian. Show all posts
Showing posts with label Colombian. Show all posts

Colombian President's Advisor: Bitcoin Is the "Most Brilliant Piece of Software Ever"

Bitcoin has been dubbed the "most amazing piece of software ever" by a Colombian presidential adviser. Presidential advisor Jehudi Castro Sierra praised Bitcoin's technological prowess in an interview with CryptoPotato. Castro Sierra, whose major role is to advise the country's leader on technological and digital transformation issues, said Bitcoin has become a primary interest for him.


Before focusing on Bitcoin's monetary innovation, Castro Sierra told his interviewer that he initially saw it as a "wonderful open-source project":

After a while, I became interested in the monetary innovation that it symbolizes, and I'm currently learning new things on a daily basis.

Cryptoassets are one of the presidential advisor's "primary concerns," and he praises the technology as a "creative sandbox" for reaching individuals in a secure manner. Castro Sierra stated that the administration was interested in adopting “friendly” regulations that would encourage innovation and attract foreign investment to the country.

Castro Sierra also praised El Salvador for adopting Bitcoin as legal cash, calling it a "brave gesture." He said nothing about whether Colombia would follow suit and recognize Bitcoin as a legal tender.

Instead, he acknowledged the dangers of cryptoassets, but predicted that the sector would “bring new investments” to Colombia.

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Bitcoin Is the Most Brilliant Piece of Software, Says Colombian President's Advisor (Exclusive)

The Colombian president's advisor discusses Bitcoin, his thoughts on the asset, the country's stance on it, and more. The scenario in the Central and South American area has changed since El Salvador made history by announcing its desire to embrace Bitcoin as a legal tender.


Other countries, such as Paraguay and Argentina, have toyed with the notion, but have yet to make any real progress.

Colombia is another country in the Latam region whose inhabitants are openly interested in BTC. CryptoPotato recently had the opportunity to speak with Jehudi Castro Sierra, the President's Advisor.

As previously reported, Castro Sierra earned a reputation for himself in the crypto community after publicly criticizing Peter Schiff, a well-known Bitcoin detractor.

The Most Innovative Software

Castro Sierra stated during the interview that he is not a politician, but rather a geek who views the major cryptocurrency from that perspective.

His professional journey is intertwined with the software business, which introduced him to Bitcoin many years ago. In fact, he described bitcoin as the "most brilliant piece of software ever."

Castro Sierra used the latest mining adjustment operations to demonstrate his point. The hash rate dropped by more than 50% in a month after China went after BTC miners and ordered them to shut down. The network reacted as expected, making it easier for current miners to continue working while the cast-offs transferred. As a result, the hash rate has largely restored.


“I saw Bitcoin as a fantastic open-source project. After a while, I became interested in the monetary innovation that it symbolizes, and I'm currently learning new things on a daily basis.”

Colombian Bitcoin

Castro Sierra explained his ties to Colombia's political environment, while emphasizing that he is not a politician per se. It includes serving as the CTO of a presidential campaign, as a Deputy Minister, and now as a Presidential Advisor.

He did clarify, though, that his work is solely focused on technology and digital transformation. Castro Sierra discussed some of the progress made so far with various projects relating to those two domains, saying the government has become focused on BTC and other virtual currencies.

“At the moment, one of the primary areas of concentration is cryptocurrencies. We have an innovative sandbox where residents can receive transactions in a simple and secure manner. The goal is to create a friendly legislation that encourages innovation and attracts investment using the data acquired in this sandbox.”

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