{"id":14432,"date":"2022-01-07T07:54:54","date_gmt":"2022-01-07T02:24:54","guid":{"rendered":"https:\/\/zebpay.com\/?p=14432"},"modified":"2022-01-07T07:54:54","modified_gmt":"2022-01-07T02:24:54","slug":"el-salvador-and-the-bitcoin-city","status":"publish","type":"post","link":"https:\/\/zebpay.com\/in\/blog\/el-salvador-and-the-bitcoin-city","title":{"rendered":"El Salvador and the Bitcoin City"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zebpay.com\/in\/blog\/el-salvador-and-the-bitcoin-city\/#Bukeles_strong_actions\" title=\"Bukele\u2019s strong actions\">Bukele\u2019s strong actions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zebpay.com\/in\/blog\/el-salvador-and-the-bitcoin-city\/#Developing_infrastructure\" title=\"Developing infrastructure\">Developing infrastructure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zebpay.com\/in\/blog\/el-salvador-and-the-bitcoin-city\/#One_step_further\" title=\"One step further\">One step further<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>El Salvador hit the newsstand as the <a href=\"https:\/\/zebpay.com\/blog\/el-salvador-adopts-bitcoin\/\" target=\"_blank\" rel=\"noreferrer noopener\">first nation to adopt Bitcoin as a legal tender<\/a> alongside the US dollar. They have had quite an interesting journey from then to now as they embrace the currency. President\u200b\u200b Nayib Bukele has become Bitcoin\u2019s influential ambassador in the country.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bukele-s-strong-actions\"><span class=\"ez-toc-section\" id=\"Bukeles_strong_actions\"><\/span>Bukele\u2019s strong actions<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>President Bukele shocked the world when he announced his plan to adopt BTC at the <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-2021-conference-miami-here-s-what-you-missed-so-far\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin Miami Conference<\/a> in 2021. Within a week of the same, the Salvadoran Legislative Assembly passed the Bitcoin Law, granting it to complete legality.\u00a0<\/p>\n\n\n\n<p>Bukele has gone out of his way to encourage Bitcoin more than expected from a world leader. He uses his social media platforms like Twitter to announce how much BTC the government has been purchasing for its national treasury. He even proposed harnessing geothermal energy from volcanoes to mine crypto!<\/p>\n\n\n\n<p class=\"has-text-align-center\">\u200b\u200b<img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/nH7Le1U5_-4uv5N6nfevItvmxFWeneKF3akIZeNMEDouYT1-o7AOvD_HuN4ZypZ2T7MgntdwNRkwjr0g7v0duBHMAeAE9iDbo2rjpgHH-rZkdtUsE0jWLnlmfRHHFgbPhIoj2NxN\" width=\"460\" height=\"306\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-developing-infrastructure\"><span class=\"ez-toc-section\" id=\"Developing_infrastructure\"><\/span>Developing infrastructure<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>El Salvador has been building infrastructure to support the easy transition for the latest currency. They have promoted efforts to incentivize Salvadorans citizens to use it as a part of their daily life. Everyday, the government is installing hundreds of Chivo ATMs. Chivo ATMs enable zero-commission transactions to withdraw crypto.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/qtLAtWDWsoeEjW2QCYxbgLgCzEMGz8EDjI-ZtEsCdmDAHlM23B3ow33M8pkc_LoNZlW0dI0LofB69B-DQQPvw56YLxjp6rezJmBYclkCfn66z-mgt8MwXGdnIltWUMWSa0wtTs9z\" alt=\"\"\/><\/figure><\/div>\n\n\n\n<p>The country hopes to extend the bounds of crypto to every industry and sector. They even announced the construction of a $4 million veterinary hospital, to be funded by the profits of the nation\u2019s Bitcoin Trust.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-one-step-further\"><span class=\"ez-toc-section\" id=\"One_step_further\"><\/span>One step further<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bukele has taken a step in the right direction with his latest announcement for the creation of \u201cBitcoin City\u201d. It is initially to be funded by $1 billion in BTC bonds. Crypto companies Bitfinex and Blockstream have already stepped up and are ready to support this initiative.&nbsp;<\/p>\n\n\n\n<p>Many citizens have been praising Bukele for his futuristic views for the country deeming him the \u201ccoolest president.\u201d Bukele is building up his popularity in the nation as he funnily changed his Twitter bio to \u201cCEO of El Salvador.\u201d&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Be on Mars by 2032 gonna be amazing, but the future is being built also here on earth, in El Salvador to be specific. \ud83d\udef8 <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitcoin<\/a> City. <a href=\"https:\/\/t.co\/PGhJQ9FlrG\" target=\"_blank\">pic.twitter.com\/PGhJQ9FlrG<\/a><\/p>&mdash; Jose Valdez \ud83c\uddf8\ud83c\uddfb (@JoseValdezSV) <a href=\"https:\/\/twitter.com\/JoseValdezSV\/status\/1469362286271897600?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">December 10, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Bitcoin City will provide &#8216;digital and technology education, geothermal power for the entire city, and effective and reliable public transportation.&#8217; Top crypto industry leaders are saying this will be a game changer. Other countries are starting to understand this is the benchmark being set for a country becoming a crypto hub. More businesses and innovators will migrate to countries that have transparent legislations and frameworks.\u00a0<\/p>\n\n\n\n<hr class=\"wp-block-separator is-style-dots\"\/>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Salvador hit the newsstand as the first nation to adopt Bitcoin as a legal tender alongside the US dollar. They have had quite an interesting journey from then to now as they embrace the currency. President\u200b\u200b Nayib Bukele has become Bitcoin\u2019s influential ambassador in the country. Bukele\u2019s strong actions President Bukele shocked the world [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14437,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[14],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/14432"}],"collection":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/comments?post=14432"}],"version-history":[{"count":0,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/posts\/14432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media\/14437"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/media?parent=14432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/categories?post=14432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/in\/wp-json\/wp\/v2\/tags?post=14432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}