Bringing Bitcoin to Tonga with Lord Fusitu’a

“The economy will first benefit by every customer having a disposable income increase by 30% and... simultaneously with that extra 30%, there are some who are going to be saving it rather than putting it into the economy and stacking sats.”— Lord Fusitu’aLocation: ZoomDate: Saturday 27th JuneProject: TongaRole: 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. This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesSportsbet.io - Online sportsbook & casino that accepts BitcoinCasa - The leading provider of Bitcoin multisig key security.Exodus - The world's leading Desktop, Mobile and Hardware crypto wallets.Ledger - State of the art Bitcoin hardware walletRevolut - A better way to handle your money-----WBD368 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.