Bitcoin Fixes the Documentation Problem of 49% Of Adults in El Salvador

3 months ago 29
  • An international news said Bitcoin fixes the documentation problem in El Salvador.
  • 49% of adults in El Salvador don’t have the documentation to open a bank account

According to The Christian Science Monitor, Bitcoin fixes the documentation problem of 49% of adults in El Salvador. The Christian Science Monitor is an independent international news organization.

As per the firm post, 49% of adults in El Salvador don’t have the necessary documentation to open a bank account. So, Bitcoin fixes that.

More so, the firm said that El Zonte, a fishing village on El Salvador’s coast, has been using crypto for the past year. So, the supporters of BTC point to the town as an example. In addition, they said that bitcoin could help the country where 70% of people do not have bank accounts.

After El Salvador made the bitcoin legal tender this week, eyes turned to this rural fishing village. The organization said that around 500 fishing and farming families use bitcoin in the village. More so, the firm said that they use BTC to buy groceries and pay utilities.

Also, the organization interviewed few people in El Zonte. One of them was the store’s namesake, María del Carmen Avilés. Based on the interview, María said she is now an expert in bitcoin transactions.

María del Carmen Avilés said,

When a customer comes I ask him if he’s going to pay with the application or in cash. The majority pay with the application Bitcoin Beach. I look for it on my cell to charge them. It doesn’t take more than two minutes.

In addition, “It’s easier than paying with bills,” Mr. Gálvez said. Besides, she also added that she could buy from her house. Moreover, she can do the transaction with the application Bitcoin Beach and pick up what she needs.

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