If they don't have a bank, where did they put the 40k the govt gave them? Mattress?
They struggled to find a bank that would accept that kind of operations and yet managed to get gov funding. Uplifting story.
“Extraordinary validation” is exactly what it is, now they need to play it right, set proper security systems (multisig) and they could set a solid foundations for the future Chilean bitcoin industry.
Although on the second thought, governments funding programs do not reflect opinion of the government itself. In other words, the fact they got $40k doesn't necessarily mean that gov is "pro-bitcoin".
But I have a feeling we'll be hearing more good news from South America in the near future.
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Also I totally did see that coming:
https://bitcointalksearch.org/topic/m.11093304
Quote
During its earlier days, SurBTC was faced with a lot of rejection from banks in the country, as most of these institutions had a growing distrust for the cryptocurrency. The company eventually found a banking partner to work with in Chile, eventually paving the way for a successful launch of the bitcoin exchange.
The Chilean government also decided to back the bitcoin exchange by giving $40,000 in funding. For CEO and co-founder of SurBTC Guillermo Torrealba, they felt that this was an “extraordinary validation” for their operations. This funding was provided as part of the state’s startup initiatives.
The Chilean government also decided to back the bitcoin exchange by giving $40,000 in funding. For CEO and co-founder of SurBTC Guillermo Torrealba, they felt that this was an “extraordinary validation” for their operations. This funding was provided as part of the state’s startup initiatives.
They struggled to find a bank that would accept that kind of operations and yet managed to get gov funding. Uplifting story.
“Extraordinary validation” is exactly what it is, now they need to play it right, set proper security systems (multisig) and they could set a solid foundations for the future Chilean bitcoin industry.
Although on the second thought, governments funding programs do not reflect opinion of the government itself. In other words, the fact they got $40k doesn't necessarily mean that gov is "pro-bitcoin".
But I have a feeling we'll be hearing more good news from South America in the near future.
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Also I totally did see that coming:
https://bitcointalksearch.org/topic/m.11093304
The answer is in the text you quoted. Highlighted it for you.
