By Shelly Melancon (Switzerland)
Charles Hoskinson, Input-Output Global CEO, owners of CARDANO, has revealed that he is talking with El Salvadoran authorities over adopting CARDANO. Hoskinson made this revelation in a live ask my anything (AMA) session held on YouTube. He said, “yes, we are in talks with some officials in El Salvador, and I may soon visit. We’ll soon meet the president because we have already sent all requests and documentation. Hence, the remaining decision is in their hands.”
Cardano had previously announced that its rolling out blockchain-related education and internet connection in Ethiopia and Tanzania. However, Hoskinson believes Cardano can take advantage of the crypto momentum in El Salvador as the country makes bitcoin a legal tender. The question is, does CARDANO have a chance since El Salvador officials termed the legislation a bitcoin law.
Cardano Community: “There Is More to Blockchain Than Bitcoin”
Despite disapproval from the IMF and the World Bank, El Salvador President has already announced that bitcoin will become operational by September 7. There would also be a national wallet for instant USD conversions and BTC transfers from that same date. Those who sign up to use the wallet will receive a $30 sign-up gift.
El Salvador’s bitcoin activity is proof that crypto mass adoption will keep growing regardless of the opposition. The reason is not because of crypto advocates or enthusiasts but because it provides a suitable alternative to the current system, which isn’t people-oriented.
Also read:Cardianians (the stake pool operators) have commented on the situation, stating that there is more to blockchain than Bitcoin, and CARDANO can provide greater freedom and transparency than bitcoin.
Cardanians Tweet. Source: Twitter
While there is still no programmability in bitcoin, it remains the most trusted digital currency. That might be the probable reason why El Salvador agreed to make it a legal tender.
President Bukele Is Not Interested in Facilitating the Adoption of Other Digital Currencies.
Altcoin developers’ interest in El Salvador continues to grow even though bitcoin remains the undisputed king over there. During an interview with the YouTube channel (what bitcoin did), Bukele was doubtful about his country adopting all cryptocurrencies. He said it is almost impossible to adopt other legal tenders because dealing with two currencies (bitcoin and U.S. Dollars) is “tricky enough.”
Bukele stated that “it’s a bitcoin law, and it’s hard to ensure that two parallel currencies are running smoothly and simultaneously. However, I will reiterate that the buyer and the seller have total freedom regardless of the currency they choose.” he did affirm that altcoins will be allowed, and they can have branch offices in any part of the country. But bitcoin remains the only digital currency that is a legal tender in the country.
While smart contracts and programmability are the advantages other platforms have over bitcoin, trust is the first step to establishing a legacy globally, and bitcoin seems to have that unfair advantage already. We await the outcome of Hoskinson’s talk with El Salvador officials about CARDANO.
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