Podcasts: Bringing Bitcoin to Tonga with Lord Fusitu’a - WBD368 🔗 3 years ago
- Category: Podcasts | What Bitcoin Did
- Author(s): Peter McCormack
- Published: 5th July 2021 14:25
Location: Zoom Date: Saturday 27th June Project: Tonga Role: Tongan Politician & Noble of the Realm.
Following El Salvador's groundbreaking decision to make bitcoin legal tender, politicians from all over Central & South America, Africa and the Pacific Islands began putting laser eyes in their Twitter bios and publicly endorsing bitcoin. One of these politicians was Lord Fusituʻa, a Tongan politician.
Tonga is a small country in the South Pacific. Their economy relies heavily on remittances, most notably from Australia, New Zealand and the United States. With close to 41% of their GDP coming from remittance and fees, sometimes as high as 50%, the Polynesian country would benefit greatly from removing these middle-man fees.
After seeing Strike's success in El Salvador and their government's steps to legalise bitcoin, Lord Fusituʻa wants to bring bitcoin to Tonga.
In this episode, I talk to Tongan Politician and Noble of the Realm, Lord Fusituʻa. We discuss the history of Tonga, why the country relies so heavily on remittance payments and the steps he is taking to bring Bitcoin to the Tongan people.
