The governments of both Spanish American countries will take steps to participate in innovation and entrepreneurship programs. The Salvadoran government seeks to build smart cities that do not harm the environment and allow the well-being of citizens.
The Salvadoran government and Colombian non-profit entity Ruta N signed a cooperation agreement to develop Bitcoin-based projects. That arrangement aims to benefit businesspeople, universities, government collaborators, and citizens with the experiences that have transformed Medellín.
The signing of the agreement occurred within the framework of the work tour undertaken by a Salvadoran delegation to Colombia. Adriana, the Deputy Minister of Foreign Affairs, led it, the website of the Ministry reported.
The Ruta N corporation belongs to the Medellín City Hall, as appears on their official website. They say it is a hub for innovation and business to improve the life quality of citizens through science and technology.
The corporation has considered promoting almost 1,000 technology-based projects throughout 2022 to bring innovation to the entire city. In that way, they seek to help any entrepreneurship have the tools to succeed.
The cooperation agreement allows El Salvador to share experiences to articulate the public, private and academic sectors and thus develop the technological ecosystem in Medellín.
The Cooperation Agreement Aims to Develop Projects that Benefit Citizens
Nayib Bukele has committed himself to creating smart cities that are environmentally friendly and allow the well-being of citizens through technology and connectivity.
The agreement includes support from the hub for the Fourth Industrial Revolution to access financing sources through private investment. That focuses specifically on executing innovation projects on Bitcoin, financial inclusion, and digital agenda.
The hub for the Fourth Industrial Revolution emerged in 2019 at the beginning of the mandate of Iván Duque. He has thought of blockchains and cryptocurrencies as a development opportunity for the South American nation.
The Ministry of Innovation will take steps to participate in innovation and entrepreneurship programs through Empresa Pública de Medellín. Both government institutions will build a worksheet based on the primary needs for the development in El Salvador in areas like water, education, and innovation.
Medellin Has Become the Bitcoin City of Colombia
The Salvadoran Ministry of Foreign Affairs does not provide details on the Bitcoin projects to develop in El Salvador. However, the government is strengthening ties with Medellin, as the Colombian city has emerged as an excellent place to do business with cryptocurrencies.
Medellín, one of the most progressive Colombian cities, has a Blockchain Center in the El Poblado area. It is active in exchanging knowledge and promoting investment opportunities in the cryptocurrency ecosystem.
Local authorities have also become enthusiastic about the digital financial system and have allied with private institutions. In that way, they have created Rutanio, a blockchain network to encourage technological exchange.
In that regard, the city hall encourages business innovation in various areas to promote science and technology. They view it as a mechanism for citizens to improve personally and professionally.
They seek to provide financial support for entrepreneurs, FinTechs and startups through loans in areas of social interest. Their objective is to innovate the community with services, democratize knowledge, and provide people with unique opportunities.
By Alexander Salazar
