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Cardano Founders Want to Convince El Salvador President to Consider ADA as an Alternative for Bitcoin

Charles Hoskinson wants to operate nations with the help of his new blockchain technology. The IOHK has managed to sign contracts with the governments of Tanzania and Ethiopia about using the blockchain ecosystem to move forward in the education sector and internet capabilities. The mass adoption of cryptocurrencies in El Salvador has attracted the attention of Hoskinson as well.

There are rumors in the media that Hoskinson is going to have a meeting with President Bukele. He further added that all documentation and details about the advantages of the Cardano blockchain would be the main topic of discussion for the meeting. However, in the end, the choice of compliance is up to the president and regulatory authorities of the Central American nation.

The Cardano Community Wants to Invite People of Salvador to Explore Better Blockchain Spaces than Bitcoin

The Cardano community members are active on social media. The reigning members of the community want to convey a message to the people of El Salvador. The message pertains that blockchain technology is so much bigger than Bitcoin. According to the message, Cardano has the potential to offer more freedom and better development options. 

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The stake pool operators also claimed that Cardano could also allow the issuance of a stable coin, and it would allow the locals to enjoy independence. Whereas, President Bukele seems to strongly support the Bitcoin market as he shuts down the reservations from the IMF and World Bank. He has also introduced a digital wallet that would allow signing parties with a $30 opening credit as an incentive.

Nayib Bukele Turns Down the Massive Interest from Other Altcoins to Match Bitcoin

Bitcoin lacks the necessary innovations that would allow it to be useful for further programming or software deployment projects. However, it is a placeholder as the most popular cryptocurrency in the world. Speaking in a YouTube Channel Interview, President Bukele claimed that accepting Bitcoin as a legal tender alongside the US dollar is going to be a big problem. 

Other altcoin projects are lining up for becoming the next contender for a legal tender adoption. However, it would be impossible for the country to handle ten or more legal tenders at the same time. He further added that altcoin projects are welcome to work in the region. However, at present, Bitcoin remains the top choice for the country in the matter of legal tender adoption.

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Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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