Country Can Use Natural Resources to Produce Bitcoin, Not Cocaine By DailyCoin


Colombia’s new president: the country can use natural resources to produce Bitcoin, not cocaine

On Sunday, Colombia elected Gustavo Petro as its new president. He will be the first left-wing president in the country’s history. In addition to attention to climate change, social inequality and peace in the country, Petro also expressed his approval for its adoption.

Petro will replace Conservative President Iván Duque Márquez on August 7. Petro’s vice president will be human and environmental rights activist Francia Márquez, the first black woman to hold office.

Switch to Renewable Energy

Petro advocates the transition from oil to renewable energy. According to government statistics, oil and mining together account for more than 50% of Colombia’s monthly exports and up to 8% of gross domestic product.

In his government program, Petro highlights an energy transition to address the emergence of climate change, including the proposal to stop oil exploration.

“We will move Colombia from an economically dependent primary energy matrix of coal and oil to a diversified one, based on our potential for renewable energy. These are the best sources of energy to tackle climate change and strengthen the country’s capacity for a productive economy, ”he said.

Following his green agenda, Petro insists on halting hydrocarbon exploration and building new large-scale open pit mines. It also plans to end fracking research pilots and offshore oil and gas projects, even though they have already signed contracts with companies.

The president-elect compared fossil fuels to cocaine: “Our top three exports are poisons,” he told Petro at a rally in May. The Mining Association of Colombia (ACM) condemned these words as “irresponsible and above all disrespectful.” However, Colombians voted for a different political trajectory, as Petro won more than 50% of the vote and won against pro-business right-wing candidate Rodolfo Hernandez.

Clean energy to undermine Bitcoin

Adopting cryptography could help Latin American countries cope with the high inflation of national currencies. In support of cryptography, Petro claimed that Bitcoin eliminates the issuing power of states and banks.

“It is a community currency that is based on the trust of those who transact with it. Since it is based on a chain of blocks, confidence is measured and grows, hence its strength, “he tweeted.

Petro applauded the idea of ​​Salvadoran President Nayib Bukele to build volcanic-powered cryptographic mining facilities. He tweeted that Colombia could also take advantage of Bukele’s idea: use clean hydroelectric power on the Colombian Pacific coast to extract cryptocurrencies and replace it with the cocaine industry.

According to a UN report, the Pacific coast is one of the hottest regions for drug trafficking, where coca cultivation has increased significantly in 2020.

Seven months ago, Petro also claimed that Colombia could use wind turbines and hydropower plants to extract cryptocurrencies in the Guajira region on the Caribbean coast. The area is known for the local Wayu indigenous communities struggling hard with the highly polluting mining industry in their region.

“We can make the Wayu communities, the coal workers in the Cesar region, the black communities on the Colombian Pacific coast, the owners of these new forms of energy linked to cryptocurrency computing, and so we will have a different world,” Petro said in the interview.

Guajira is home to 98% of the country’s wind farms. According to Colombian media, 65 new farms are expected to become operational in 2031. With more than 2,000 wind turbines, it will produce 6,000 MW for the national grid.

Petro and his green energy plans seem to win voters in La Guajira: “More than 160,000 votes in La Guajira. We won. We will finally release the Rancheria River, the sun and the wind will be our new wealth, a calm but firm energy transformation is coming. No more starving children will die. Thank you my Guajira, ”tweeted the Wayu community social leader and elected member of the Senate.

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