El Salvador: One Small Step For Bitcoin
Tracing El Salvador's Bitcoin story, from Bitcoin Beach to the ongoing challenges in establishing government-led adoption.This article originally appeared in Bitcoin Magazine's El Salvador print issue. You can purchase the full issue here.“Are you guys ready for this?” Jack Mallers asks the thousands of Bitcoin enthusiasts crowding the main hall of Bitcoin 2021. The 27-year-old Strike CEO paces back and forth on stage with the swagger of a hip hop artist, as he accepts the cheers from the crowd.“Rhetorical question, there’s no fucking way. There’s no way, I promise you,” Mallers continues.....
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The government of El Salvador will offer cryptocurrency-based loans to small companies. Conamype, the National Commission for Micro and Small Enterprises, will be the link between the investors and a decentralized finance protocol called Acumen, that will be able to provide funding in stablecoins. The aim being to help small investors that have no credit history in the country. Small Companies in El Salvador to Receive Cryptocurrency-Based Loans Small companies in El Salvador will be able to receive funding to power their companies with cryptocurrency. The program is directed to include....
El Salvador seems to be looking to a future fully integrated with bitcoin. The country which had made history in September as the first sovereign nation to make bitcoin a legal tender has taken another step forward in its adoption of the cryptocurrency. After investing millions of dollars into BTC, El Salvador has announced the […]
Despite a small country living on a bitcoin standard, the first step is always the hardest, and a domino effect might bring bigger players to the game.
Nayib Bukele, dubbed the “CEO of El Salvador,” is pushing the envelope by implementing Bitcoin as a legal tender in the real world. The Salvadoran government is attempting to develop a Bitcoin-backed credit product for micro and small companies around the country. As a result, small and micro-businesses will be able to qualify for low-interest […]
By becoming the first country in the world to make bitcoin legal tender, El Salvador took a bold step into the future.