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On June 3, 2016, Colombia’s first Bitcoin exchange, Colbitex, launched in testnet. The Colombian market seems to have all the right characteristics for increased adoption and the embrace of exchanges. Time will tell.
The Vision For Colbitex
The project was founded by Roman Parra, an industrial production engineer and marketing specialist, and Carlos Mesa, a computer systems engineer. When officially launched, Colbitex will be a full-service exchange allowing for the traditional functionality users have come to expect from exchanges, according to Latin American bitcoin publication, Diario Bitcoin.
Parra and Mesa also plan to add some sort of alarm mechanism that will alert users when there is suspicious account activity. The goal, they say, is to prevent “illegal activities” on the exchange. There is no word yet on the functional details of this feature.
The Market in Colombia
The Bitcoin Market Potential Index (BMPI) produced by the London School of Economics ranks Colombia