Maya Parbho, the CEO of fintech company Daedalus Labs, has emerged as a prominent advocate for integrating Bitcoin into Suriname’s financial system. In an interview with Cointelegraph, she revealed her interest in cryptocurrencies began a decade ago, leading her to recognize the inadequacies of Suriname’s financial infrastructure. Parbho highlighted a notable example: employees at the Central Bank of Suriname relied on Excel spreadsheets to determine currency exchange rates.
A Vision for Change
Parbho emphasized the need for an alternative system that avoids the pitfalls of the current one, drawing inspiration from the innovations introduced by Satoshi Nakamoto. She stated, “We need to create an alternative where we do not face the same problems and build a new system based on Nakamoto’s principles.” Furthermore, she identified rampant corruption as another compelling reason to integrate Bitcoin into the national financial framework.
The idea to enter politics was influenced by Bitcoin maximalist Samson Mow, who previously assisted the Salvadoran government in adopting Bitcoin. During a conference in Florida in May 2023, Parbho proposed leveraging El Salvador’s Bitcoin transformation experience in Suriname. However, her initiative has faced challenges due to entrenched corruption.
Bitcoin Transformation Plan
Parbho’s campaign plan outlines several key proposals aimed at overhauling Suriname’s financial landscape:
- Abolishing the central bank
- Recognizing Bitcoin as the national currency
- Establishing stock markets on the blockchain
- Introducing Bitcoin bonds to stimulate economic growth
- Developing a regulatory framework to ensure market stability and protect investors
To implement these reforms, Parbho suggests amending the constitution to allow for decentralized governance.
The Case for Bitcoin in Suriname
As a presidential candidate for the South American republic in the 2025 elections, Parbho aims to legalize Bitcoin as a payment method and transition the country’s financial infrastructure onto the blockchain. She believes that a Bitcoin-based national economy would enhance efficiency and transparency, making it more challenging for corrupt individuals to thrive and fostering economic growth. “Corruption is destroying this country and preventing billions of dollars in investments,” she asserted.
According to her campaign materials, citizens of Suriname would benefit from a transparent government, improved public services, and greater influence over their country’s future.
El Salvador’s Precedent: A Mixed Reality
In 2021, El Salvador became the first country to recognize Bitcoin as legal tender and initiated reforms to integrate it into its economy. While experts initially doubted significant changes would occur for ordinary citizens, they acknowledged its potential as a precedent for other nations.
Three years later, President Nayib Bukele reflects on mixed results from these initiatives. “There is definitely much more that could have been done. Bitcoin has not achieved the widespread adoption we hoped for,” he stated. A survey from Francisco Gavidia University revealed that while 58% of Salvadorans support the government’s direction, only 7.5% actively use Bitcoin for transactions.
Despite these challenges, Bukele maintains that integrating Bitcoin at a national level has yielded positive outcomes, including branding benefits and increased tourism. “We have only seen advantages. Has it brought anything negative? No,” he concluded.
