El-Salvador has been trailblazing, among other nations of the world, the acceptance of Bitcoin as a national currency. And there have been subsequent rapid developments on this note.
Recently, the President—in the person of Nayib Bukele—has challenged the Athena Bitcoin technological firm to create over 1500 cryptocurrency automated teller machines in El-Salvador. Recall that Athena created a cryptocurrency ATM at the popular El-Zonte. Having seen the progress it brought, the President is further challenging the firm to do much more.
Although some members of the opposition parties were not entirely pleased with this, experts have nonetheless saluted the move of Nayib Bukele because Blockchain will revolutionize the world.
On this note, Eric Gravengaard who is the Chief Executive Officer of Athena Bitcoin Incorporation has confirmed the decision of the firm to invest $1m to execute these projects.
In his brief address, he said that the firm will start installing these ATM stands at strategic locations across the country. He also said that the firm will help the labor market as they will need to fill a lot of roles.
What does this mean to the citizens of El-Salvador?
By the time these projects are complete, they will be able to sell cash for Bitcoin or buy Bitcoin for cash through these Bitcoin ATMs.
With this, El-Salvador will be the first country to integrate cryptocurrency swiftly into its system.
From the international perspective, major institutions had been quite diplomatic or rather hostile to this move. But Nayib Bukele said that he won’t be moved nonetheless.