How El Salvador's Legal Tender Changed the Game

Supermoon Station met with Monica Taher, former technology and business innovation director at Invest El Salvador. Taking a moment from enjoying the exciting energy at NEARCON Monica brought us up to date on the blockchain space in El Salvador.

Monica working closely with the introduction of Bitcoin as legal tender in El Salvador mentions the sheer positivity the law has spurred increasing adoption, changing the former negative perspective associated with the country, and new revenue streams for locals unlocked.

Introducing Bitcoin as legal tender for any country is an extreme mission however, after El Salvador's success they have gone a step further by implementing several educational initiatives around Bitcoin payments and utilization. NGOs are going to remote areas to educate and give certificates to people who graduate from a series of bitcoin-oriented classes while also several blockchain courses are available at University level.

Monica reports stakeholders at every level in El Salvador are working hard to ensure no one is left behind in this national movement with the Government advocating and providing the tools for the population and small businesses that currently lack the technology to accept Bitcoin payments.

“We’re working toward a more coherent defi ecosystem, which will see the addition of 52 new laws in relation to mining, DAOs, and start-ups among many other aspects of the blockchain industry.”