The world's first country has switched to bitcoin. Where will it lead?

A small Latin American country suddenly led the global financial revolution by making bitcoin the national currency. Now Salvadorans can experience all the benefits of high-tech by paying for their morning coffee in cryptocurrency. The authorities seriously believe that the transition to bitcoin will give a strong impetus to the economy. Skeptics from the International Monetary Fund (IMF) and the World Bank, on the contrary, believe that such a risky move only creates additional threats to the state. The authorities of El Salvador did not take the citizens' opinion into account either - the numerous protests and public opinion were simply ignored. Great Expectations Before El Salvador, no country in the world dared to recognize bitcoin as a legal tender. Now, all organizations will be obliged to accept the cryptocurrency, taxes can be paid with it, and special wallets will be opened for citizens.

The country's authorities have already bought bitcoins for about $26 million (about 1.8 billion rubles), and are going to buy more in the future. To become a full member of the national bitcoin network, citizens need only download the application Chivo. Registration will open access to a personal wallet, which will be a welcome bonus - $ 30. Exchanging bitcoins into dollars and back should not be a problem - the authorities intend to install 200 special ATMs, as well as to open an additional 50 service outlets. Now it is already possible to pay with cryptocurrency in McDonaldʼs, Pizza Hut and Starbucks.


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