Salvadorska denarnica 'Chivo' doseže 1.1 milijona uporabnikov 

El Salvador President Nayib Ukele may be facing mounting opposition with the implementation of the Bitcoin Law, but it is certain that he still has some reasons to celebrate. 

The government-issued wallet, the ”Chivo” wallet, has already reached 1.1 million Salvadorans 10 days after the app was officially rolled out. The wallet has now been downloaded by 17% of the country’s population who were rewarded with $30 worth of BTC to encourage them to transact using Bitcoin. 

The President proudly tweeted this latest achievement from the government’s Bitcoin initiative. 

But even with the rapid rate of Chivo downloads, one of the major blocks in its further rise is the fact that 65% of the smartphone models used by Salvadorans are not optimized to run the Chivo wallet. 

Finančna vključenost

Bukele said that through the government’s Chivo wallet, financial inclusion can now be extended to more Salvadorans. He said that traditional banks have been so slow in fulfilling this task and Chivo would fulfill this critical inclusion faster than any banks in El Salvador have done before. 

Edward Snowden, the infamous whistleblower, revealed in a tweet that more countries are now pressured to buy Bitcoin and that a lot of governments have been late in realizing the potential of the cryptocurrency. 

Bitcoin vs remittance giants

Global remittance giants such as Western Union, MoneyGram, and other companies with similar services are earning $400 million in El Salvador each year through their transfer fees. This amount is actually equivalent to 1.5% of El Salvador’s gross domestic product (GDP). 

Around 70% of the country’s population rely on remittance companies’ services. In fact, in 2020 alone, citizens have received $6 billion in funds coming from abroad. 

And with Bitcoin’s fast and cheap fund transfers, Bukele is confident that millions of Salvadorans can finally free themselves from the high cost of transfer fees they’ve been bearing for so long. 

Slika z dovoljenjem Novice Cointelegraph/ YouTube

Source: https://bitcoinerx.com/blockchain/el-salvadors-chivo-wallet-reaches-1-1-million-users/