Tuesday, October 12, 2021 7:58:30 AM
AABBG gold backed crypto tokens to the masses. Conversion to and from fiat via Chivo wallet.
“The Chivo numbers don’t tell the complete story. Salvadorans don’t have to use Chivo, the government’s officially sponsored bitcoin wallet, if they don’t want to. Any Lightning Network-enabled bitcoin wallet, such as the Bitcoin Beach Wallet or Jack Maller’s Strike can be used to interact with Salvadoran merchants.”
“And the Chivo wallet enables instantaneous conversion of bitcoin to and from dollars, obviating the need for consumers to spend or save in dollars if they don’t want to.”
“Most importantly, the impact of Chivo is likely greater among low-income Salvadorans who have access to smartphones but not banks. Among El Salvador’s two poorest quintiles, many of whom live in rural areas, only 6 percent have bank accounts. If El Salvador’s poorest can benefit from bitcoin, everyone can.”
https://www.forbes.com/sites/theapothecary/2021/10/07/in-el-salvador-more-people-have-bitcoin-wallets-than-traditional-bank-accounts/
"Be fearful when others are greedy, and greedy when others are fearful."
_Warren Buffett
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