The Victoria-based Bitcoin company plans to contribute technology and satellite infrastructure to the Central American country’s effort to become the first nation to accept the cryptocurrency as a satisfactory payment for debts. (CNBC)
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The Victoria-based Bitcoin company plans to contribute technology and satellite infrastructure to the Central American country’s effort to become the first nation to accept the cryptocurrency as a satisfactory payment for debts. (CNBC)
Talking point: El Salvador President Nayib Bukele announced the plan in a video shown at the Miami Bitcoin conference Saturday, saying he would send a bill to Congress the week after. Bukele—whom Human Rights Watch recently criticized for his role in El Salvador’s “slide to authoritarianism”—said he aimed to create jobs and promote financial inclusion. Blockstream chief executive Adam Back called the move “an inevitability,” telling CNBC the company will help El Salvador’s efforts through its Bitcoin-settlement software Liquid and network of satellites, which allows people without reliable internet connections to use the cryptocurrency. Meanwhile, Square announced it will work with Blockstream on an open source renewable-energy mining project.
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