Thursday, September 16

Bitcoin (BTC) To Be Used Officially In El Salvador

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While the Bitcoin 2021 conference held in Miami continued on its second day, a very important statement came from Jack Mallers.

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Jack Mallers, CEO of Zap, a company working towards the goal of facilitating the use of Bitcoin, touched upon important points during his speech.

Explaining that he lived in El Salvador for 3 months, Mallers stated that it is difficult to even make a transfer there, so it may be easier to adopt Bitcoin:

If you can fix the money, you can fix the world. It’s all about helping those in need. And me [El Salvador’a] I went and lived there. I lived there for almost three months. I tried to raise a coin. remittance payment, could not do it.

Here [El Salvador’da] we did something great. 20,000 El Salvadorans were entering the industry a day, and most of them didn’t even have bank accounts. The transfer was free, the transfer was instant. The Lightning Network was working, we were improving the country’s GDP in real time.

More than 70% of El Salvador’s active population does not have a bank account. They are not in the financial system. They asked me to help me write a plan and they said they see bitcoin as a premium currency and we need to create a Bitcoin plan to help these people.

Following these words of Jack Mellers, the President of El Salvador attended the conference by video and announced that Bitcoin would be used legally in El Salvador. This will be a first for Bitcoin.

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