• Samson Mow, the CEO of JAN3 and former CSO of Blockstream, spoke at Feel The Bit in El Salvador and announced the Bitcoin Volcano Bonds.
• President Bukele announced the creation of Bitcoin City and legally recognizing bitcoin as tender, effectively accelerating the timeline for bitcoin becoming a recognized currency on a national level.
• After leaving Blockstream, Mow founded JAN3 in order to promote the adoption of Bitcoin as a global currency and its adoption by nation states.
Samson Mow is the CEO of JAN3, a company he founded in 2022, and the former CSO of Blockstream. Last year, he had the opportunity to speak at Feel The Bit in El Salvador, where he announced the Bitcoin Volcano Bonds. During the event, President Bukele made a significant announcement of his own: the creation of Bitcoin City and legally recognizing bitcoin as tender.
This decision had a profound impact on the global Bitcoin landscape. After the announcements, Mow received numerous requests from Bitcoiners around the world asking for his assistance with implementing Bitcoin projects in their local communities or with their governments. This enthusiasm was largely inspired by the developments happening in El Salvador and their potential to accelerate the timeline for bitcoin becoming a recognized currency on a national level.
Mow had been considering the idea of promoting the adoption of Bitcoin by nation states for some time. After much thought, he decided to leave Blockstream and dedicate himself to advancing the adoption of Bitcoin as a global currency, known as hyperbitcoinization, and its adoption by nation states.
The traditional fiat currency system has greatly exacerbated the credit cycle, a wave-like pattern characterized by periods of prosperity and recession. Under a gold standard, credit is issued based on assets like gold deposits or real estate. In contrast, under a fiat system, credit is issued based on trust, which is often misallocated, leading to economic instability.
Mow believes that the adoption of Bitcoin by nation states is an effective way to address these issues. Bitcoin is a decentralized, permissionless currency, meaning that it can be used without the need for central banks or governments. It is therefore a more secure and transparent way to transact, as it eliminates the need for intermediaries and central points of failure.
By promoting Bitcoin to nation states and encouraging their adoption, Mow hopes to reduce economic instability and create a better financial system for everyone. He also hopes to improve access to financial services, particularly in countries where banking is limited or unavailable.
Ultimately, Mow believes that the adoption of Bitcoin by nation states is the key to unlocking the potential of the cryptocurrency and ushering in a new era of financial freedom. He is confident that the future of Bitcoin is bright, and he looks forward to seeing the further adoption of Bitcoin by nation states in the coming years.