An international crypto paradise: El Salvador makes it possible

The country of El Salvador is known for violence, hunger, and poverty. But that's about to end. According to a report by Welt, President Naybib Bukele is proclaiming a paradise for cryptocurrencies and officially introducing Bitcoin as an accepted means of payment.

If you think he's acting rashly now, you're wrong. For the high-energy venture, the president is thinking about the environment. The cryptocurrencies are to be mined with the help of the earth energy of the volcanoes. Now players who want to pay with Bitcoin need to learn how to register in Bollywood.

Financial experts concerned about the president's bitcoin plans

Meanwhile, the international press and financial experts are critical of the plans. They classify Naybib Bukele's plan as self-staging and do not believe in the feasibility of such a mammoth project. This is mainly because the president likes to pose as a hipster in public. A baseball cap and a college jacket distinguish the 40-year-old, tech-savvy president.

To his followers, he sells the project as the "Bitcoin City" in the La Union region. He is also using the coastal region of El Zonte as the new "Bitcoin Beach" and is thus attracting a new clientele on the Internet and at the capital's airport. Away from surf tourists, towards the high-tech industry. And it seems to be working, as Roman Martinez, a social worker in his mid-20s, raves about the transformation in the coastal region: "The first successful Bitcoin experiment in the world."

The change started by bitcoin currency launch

Today, it's no longer just surf tourists who travel to El Zonte. Bitcoin fans and investors from all over the world want in on the project and are increasingly traveling to the country. They all scent something really big. But, how did the coastal region of El Zonte rise to such prominence?

Allegedly, the project was funded by an anonymous American donor in 2019. The El Zonte region has received a substantial bitcoin fortune to redevelop the city. And that's a reality. The old shacks and dusty streets are gone. They had to give way to the modern new buildings that are now driving crypto progress, reported https://bitrebels.com/business/bitcoin-why-is-it-so-interesting/.

Another rumor says that American big investors saw an opportunity with the businessman Bukele to create hype in El Salvador regarding Bitcoin. But either way, Bukele was smart enough to embrace and realize the opportunities presented by blockchain technology.