Bitcoin

Samson Mow Discusses Bitcoin's Next Nation State

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Samson Mow is a Bitcoin expert who previously worked for BTCC (China’s first Bitcoin exchange) and was the Chief Strategy Officer for Blockstream. Mow is currently the Chief Executive Officer for Pixelmatic, a game development studio he founded, and he now focuses the majority of his time on nation-state Bitcoin adoption.

Mow’s work at Blockstream helped strengthen the Bitcoin network through layer 2 scaling solutions by providing infrastructure like Blockstream satellite. These satellites were designed to ensure the integrity of the Bitcoin network in the event that a country’s power is shut off. In the interview, Mow talks about how he feels that now is the time to be proactive while Bitcoin is still in the adoption phase and is constantly proving itself to be more robust and secure.

The process of helping nation-states adopt Bitcoin usually involves Bitcoiners who reach out to their politicians, officials, or local representatives to consider using Bitcoin in various ways to help their country. Mow and his team are then contacted by those politicians to discuss options for Bitcoin regulation, various ways to incorporate Bitcoin for their citizens, or help with building Bitcoin infrastructure.

Many of these representatives want to understand how the process went for El Salvador in order to see how Bitcoin adoption may play out in their own countries. The Volcano Bond has proven to be a good example of how to gain traction for Bitcoin adoption. The Volcano Bond allows El Salvador to not only purchase more Bitcoin but also helps the country build mining infrastructure and continue dollar cost averaging into Bitcoin without buying the asset directly. 

In an ideal situation, Mow states that a country is hedged during a Bitcoin bull and bear market. During the bull markets it may make more sense to purchase Bitcoin directly but during bear markets it may make more sense to mine. If a government has control of their energy production, they are able to continue mining and are less likely to sell their holdings during huge price drawdowns.

Mow brought up that some representatives from Ecuador reached out about how they are using hydropower in order to mine. He also stated that there is a possibility for a hydropower bond in the future. Mexico was also mentioned as another country that could possibly become more Bitcoin friendly. Mexican Senator Indira Kempis is getting people together to write up a draft for a law that will allow Bitcoin to be used as legal tender. She is also educating other senators and President Obrador.

Mow’s approach will always change and develop depending on the country that seeks guidance. Providing consultation and advice where it is needed is his current strategy for nation-state adoption.

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Deniz Saat is an IT services specialist, technical writer and editor for BTC Times. His mission is to onboard as many people as possible into the Bitcoin overlay through education and content creation.

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