Synopsis: The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognizing bitcoin as legal tender. This is proving painful for many of its citizens, but it’s a useful “pilot” project for larger economies that are contemplating about this new asset class. Contents1 Introduction2 What has been the impact of El Salvador’s… Continue reading El Salvador’s crypto foray offers a cautionary tale for other countries
Tag: El salvador
El Salvador’s gamble on Bitcoin: Much too dicey
What is the news? El Salvador became the first country to adopt Bitcoin as legal tender. But the launch was marked by Chivo app (state-backed wallet app) glitches and crash in the Bitcoin price. This shows the volatility associated with Cryptocurrency is real and the adoption of Bitcoin as the official currency can turn out… Continue reading El Salvador’s gamble on Bitcoin: Much too dicey
El Salvador becomes first nation to adopt bitcoin as legal currency
What is the News? El Salvador has become the first country in the world to adopt Bitcoin as legal tender. This means businesses should accept payment in bitcoin alongside the U.S. dollar, which has been El Salvador’s official currency since 2001. Benefits of making Bitcoin as Legal Tender by El Salvador: Reduce the cost of… Continue reading El Salvador becomes first nation to adopt bitcoin as legal currency
El Salvador recognises forests as living entities
Recently, El Salvador has taken the decision to recognise forests as living entities. This decision was taken as El Salvador has lost about 85% of its native forests since the 1960s while Earth has lost about 80% of its native forests. This recognition will require each person to commit to caring,preserving and respecting forests.People should… Continue reading El Salvador recognises forests as living entities
