Cardano looks to emulate bitcoin adoption in El Salvador

After El Salvador made the historic decision to make bitcoin a legal tender, Input Output Global (IOG) Chief Executive Officer Charles Hoskinson said he already contacted country officials about Cardano.

“Yes, we have been in talks with some officials and parties in El Salvador, and I may do a state visit. We sent out all the documentation and requests for that, so we’ll meet the President,” the CEO said. However, he said the matter is basically going to be in the hands of the nation’s leaders.

Just recently, Cardano announced its government deals with Ethiopia and Tanzania for the rolling out of blockchain infrastructure related to education and internet connectivity.

With El Salvador making bitcoin a legal tender, however, Hoskinson said he sees an opportunity to take advantage of the pro-crypto momentum revolution in the country.

Cardano chances

With the legislation making El Salvador’s decision into what is now known as “Bitcoin Law,” some experts ask regarding the chances of Cardano gaining the same kind and level of recognition.

President Nayib Bukele has shown that his nation is all go for bitcoin, shrugging off disapproval from the International Monetary Fund and World Bank. In fact, the government has already chosen September 7 as the go-live date for the historic law.

It remains to be seen if the country leader will also give such treatment to Cardano if and when related plans materialize.

El Salvador teeming with bitcoin activity

The rollout of the leading cryptocurrency as legal tender in El Salvador already has its complementing move, as the government has unveiled a national wallet that offers instant USD conversions and is capable of facilitating bitcoin transfers, in and out.

Users are incentivized with $30 worth of bitcoin upon completing the downloading and registration procedures.


Image courtesy of Cointelegraph News/YouTube

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