Bringing Bitcoin to Tonga with Lord Fusitu'a - WBD368
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 5 July 2021
⏱️ 75 minutes
🧾️ Download transcript
Summary
Location: Zoom Date: Saturday 27th June Project: Tonga Role: 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.
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Transcript
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| 0:00.0 | So the economy will first benefit by every customer having a disposable income increased by 30%. |
| 0:09.0 | And simultaneously with that extra 30%. |
| 0:14.0 | There's some are going to be saving it rather than putting it into the economy and stacking stats. |
| 0:21.0 | Hello there from Bedford in the United Kingdom. |
| 0:24.0 | How are you all doing? |
| 0:26.0 | Right, firstly, I do want to say a massive thanks to everyone who has been writing to me with |
| 0:29.7 | advice for my back issues. |
| 0:31.7 | I do have this ongoing |
| 0:33.4 | perniated disc and siatica problem which has become quite debilitating. |
| 0:38.2 | So I've had a lot of people writing to me with all types of advice so it's a little bit overwhelming and I'm really grateful. |
| 0:45.0 | So I just wanted to say a big thanks and I love you all. |
| 0:48.0 | I really do appreciate anyone who's taken time to write to me and give me some advice. |
| 0:51.8 | You are all amazing. Anyway, welcome to the What |
| 0:54.9 | Bitcoin did podcast, which is brought to you by Gemini, the only place I am |
| 0:58.3 | using to buy Bitcoin. I'm your host Peter McCormack, and today I've got an |
| 1:01.9 | interview with Lord Fusitua where we discuss how |
| 1:05.1 | Bitcoin can help Tonga and just a little note on this he was in hospital when we |
| 1:09.2 | recorded this and it was all done via his iPhone so the sound quality isn't as good as maybe a |
| 1:14.3 | studio with a microphone. Anyway before that I do have a message from my |
| 1:18.3 | amazing show sponsors and today we're going to be kicking off with sportsbet. |
| 1:22.0 | I. Oh, and as you know especially if you're a |
| 1:24.3 | regular listener you can't help but notice that the euros are on because I don't shut up |
... |
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