Last year, Bukele announced that in Novemberseeks to create a smart city fully based on the use of bitcoin as a cryptocurrency.
While Bitcoin City appears golden El Salvador would become the a lookout point over the life it will be full of green areas.
Argente says he is fascinated by the study of payment systems. Without major changes in economic policy, the country risks a dangerous sovereign default. They find that neither Bitcoin nor the app are getting much use, despite a battery of incentives put in place, an indication that governments may face an uphill battle in convincing their citizens to adopt new payment technologies in a way that furthers financial efficiency and inclusion. If a lack of trust leads to a lack of adoption, that undermines the network effects that make digital technologies more useful. At the same time, the country launched Chivo Wallet, an app that offers many of the same benefits as a central bank digital currency CBDC , including accessibility and the ability to pay peers and firms and make deposits and withdrawals both in U.
