Bitcoin and Tonga with Lord Fusitu'a - Bitcoin Magazine Podcast

On this episode of the Bitcoin Magazine Podcast, Christian Keroles sits down with Lord Fusitu'a of Tonga. Lord Fusitu’a is Tongan royalty and a member of the Tongan government. Lord is a die hard Bitcoiner and often spends time on Twitter spaces chatting with Bitcoin plebs from around the world. Fusitu’a tells the story of how Tonga relies heavily on remittances from Tongan’s living abroad and how much of those funds are lost to middle men and rent seekers. According to Lord Fusitu’a Bitcoin is already starting to take route in Tonga on a peer to peer level and Lord sees a viable path to implementing an El Salvador style bill to make Bitcoin legal tender in Tonga.

Fusitu’a has been working with both Jack Mallers and El Salvadorian official’s to take the best parts of that law and amend it to fit into Tonga’s legal framework. Fusitu’a believe that by embracing Bitcoin, Tonga can become more competitive and more wealthy compared to starts that are slower to the digital hard currency. Tonga people stand to benefit immediately just based on the remittances advantages that Bitcoin offers. Fusitu’a believe that these immediate advantages will turn into a culture of long term saving on the islands.

Learn more about Lord Fusitu’a and his work in Bitcoin by following him on Twitter @LordFusitua

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Timestamps:

0:00 - 2:31 Intro
2:31 - 8:41 Lord introduces himself and his role in Tonga
8:41 - 15:48 Lord's rabbit hole story
15:48 - 18:57 What bitcoin can do for the developing world
18:57 - 20:16 The potential effects of saving bitcoin on developing economies
20:16 - 20:59 The pristine nature of bitcoin
20:59 - 22:55 Bitcoin 2022
22:55 - 24:11 The Deep Dive
24:11 - 25:51 Bitcoin fixes the side effects of the fiat system
25:51 - 28:07 Lord's high level of conviction around bitcoin
28:07 - 28:51 Turning the ESG conversation on its head
28:51 - 32:06 What is the awareness of bitcoin in Tonga like?
32:06 - 40:25 What are Lord's intentions?
40:25 - 41:32 How Tonga measures its economic development
41:32 - 42:27 How to follow Bitcoin Magazine's content
42:27 - 43:41 The potential for Tonga to hold bitcoin as reserves
43:41 - 46:06 Utilizing geothermal and wave harnessing energy for bitcoin mining in Tonga
46:06 - 49:37 Closing comments