Hi there, I am from El Salvador so I might like to present you all some info that may assist you make clear issues. I posted this in one other thread and made some slight edits.
First some data of the present zeitgeist in El Salvador:
The president’s celebration, Nuevas Concepts (New Concepts), was shaped in 2018-2019 as a brand new various to the previous bipartisan, marxist-left (FMLN) and ultranationalist proper (ARENA) system that had managed the federal government because the finish of the Civil Conflict in 1992. He received the presidential elections in 2019 with 52% of the vote (overwhelming majority) and only in the near past received the legislative elections in 2021 by a landslide (73% of the vote). That implies that his celebration controls the Congress with 2/3 of the legislators, that are enought to go any invoice that they need, and in reality that is what they have been doing.
His celebration is made up of principally younger professionals bored with the corrupt system that has stored the nation poor and underdeveloped for the previous 30 years. In simply their first day in workplace they fired the Lawyer Normal (who had been defending different corrupt politicians) and 5 different magistrates, accused of being purchased by the oligarchy to guard their financial pursuits. In only a month, the brand new Congress has accepted unprecedented financing for schooling and infrastructure and has handed payments that guarantee that the predatory financial elites that used to purchase politicians prior to now are stored in examine. Many huge infraestructure initiatives are anticipated to be accepted by Congress quickly, together with the development of a high-speed railway and a brand new worldwide airport.
One of many largest initiatives that the federal government is constructing is known as Surf Metropolis, which is mainly highway, electrical energy and communications infrastructure alongside the shoreline to assist small companies. In reality, for this very motive, the ISA determined to carry the World Browsing Video games (that are taking place till tomorrow) to qualify for the Tokyo 2021 Olympics in El Salvador. Bitcoin is already utilized by small companies on this space, particularly in El Zonte, which is likely one of the extra standard seashores that will get a number of worldwide vacationers.
I do know most individuals used to have the notion that El Salvador was a dumpster fireplace, as a result of we had been. Nevertheless, the nation goes by means of big change. Simply yesterday the ex-mayor of San Salvador (the capital) was captured by the police and is awaiting trial for corruption and gang financing and in addition the ex-first woman was sentenced to 10 years in jail for cash laundering. El Salvador is now not on the highest 10 checklist of most violents nations on the planet (the muder fee was 12-15 homicides day by day and has decreased to almost 3-4 day by day since Bukele took workplace) and our economic system is predicted to develop steadily too.
Bukele (39 years previous) is extraordinarily standard, with an approval score of over 90% throughout his second 12 months in workplace. Largely because of this ahead pondering. You’ll be able to see this with the information associated to the pandemic. El Salvador is the Central American nation with the bottom mortality fee (due to an enormous revamp of our healthcare system), the bottom variety of COVID-19 circumstances and the quickest fee of vaccine functions, having simply surpassed the two million mark. The federal government additionally simply launched a mission to present laptops to 100% of the scholars of the general public college system. The nation nonetheless has huge challenges to beat however I am assured we’re on an excellent path.
The adoption of Bitcoin as authorized tender is HUGE information for this nation. I guarantee you that Congress will go this invoice. I could not provide you with a precise date, however the economics fee will in all probability obtain all of the papers this week.
I will attempt to reply any questions that you simply guys might need.
UPDATE: Most legislators have come ahead saying they may again the invoice.
Some helpful hyperlinks:
Bitcoin in El Salvador as of at this time:https://www.youtube.com/watch?v=-G9cmff81fc (Spanish)
The Surf Metropolis mission (which is the place Bitcoin will almost definitely flourish):