Ecuador is a small country with a great potential for cryptocurrency and in heavy need of it. These topics were among the more important ones at the first ever meet-up for people invested in Bitcoin.
The event was held on 6th February in the capital city of the Ecuador, Quito. Organized by the Dutch supporter of the Bitcoin and a former Head of Marketing at GoldMoney, Paul Buitink and Justin Leitgeb, an IT entrepreneur from US. In Quito the office of the Justin’s Stack Builders software development company is stationed.
Even though the promotion for the meet-up was not large-scale – the information about the event was posted only on the Ecuador Bitcoin Group Facebook page, about thirty people have arrived to speak about digital coins and three of them took a plane from the city of Guayaquil, only to listen and be heard.
Both the attendees and the organizers were in a good way surprised by the expertise and knowledge show by the people who came.
Ecuador does not have much experience with digital systems of payment, even speaking of VISAs and Western Union, which in comparison to the elegancy of Bitcoin look like clumsy dinosaurs, stepping on their own tails. Cash is still most trusted form of money, as in the rest countries that are stacked under the Latin America banner.
However, the event showed that there are people in Ecuador, who want to see their money digitalized. To change the public opinion though, more effort should be made than just one meeting. Therefore, the group decided to gather monthly in Quito. Another good proposition was made during the meeting to create such groups in other big cities of Ecuador.
The main ambition of the group is to get the idea of Bitcoin through to the government, so the latter could channel the benefits of the digital currencies to its people.
Until the year 2000, Ecuador economic system was based on the SUCRE, their own currency that as the word goes, was not very stable. However, when dollar came to country’s market that year, it was not met with applause and gratification. Nor by people, neither by politicians. The volatility of the local economics did lessen, though.
There were rumors about government working on the new currency, to get rid of the dollar, and finally to start emitting the own money. If the new founded Bitcoin enthusiast group, should they succeed in their message, could merge the idea of cryptocurrency and the new official currency of the Ecuador, then the new era for the whole cryptomovement will begin.
Although, this is not a scenario that is very likely to happen, the group seems serious about their intention to revolutionize the money system of Ecuador. That is why I do believe in group’s ability to change their country for the better.