The country’s adoption of the cryptocurrency threatens to leave behind the poor and elderly
Picture: BLOOMBERG/PAUL YEUNG
Even if she wanted to use the cryptocurrency, Garcia does not own a smartphone and said she had no other way to download the “Chivo” bitcoin app and wallet launched by the government. On the Pacific coast, some tourists and young restaurant and hotel owners have been using the digital currency for up to three years. Shops in the surfing town of El Zonte — known as Bitcoin Beach — display signs saying “We accept bitcoin”.
El Salvador’s bitcoin rollout is a “little lab experiment that other countries are watching”, said Lam, who is also a research adviser for Goodlabs Studio, a software company. “Some people say they’re just going to download the Chivo app to spend the $30 and then they’ll deactivate it. But I haven’t even wanted to do that,” he said from the mainly agricultural province.
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