Charles Hoskinson, the CEO of IOG (Input Output Global), stated that he has been making contact with the officials of El Salvador regarding Cardano by saying that they have been discussing with some parties and officials in El Salvador. He added that he is expecting to take a tour of El Salvador in this respect. Further, he claimed that all the requests and documentation necessary for the project of Cardano trade have been submitted and a meeting will be conducted between Cardano and the El Salvadoran President.
Recently, the government deals in Tanzania and Ethiopia were announced by Cardano to expedite the internet connectivity and the blockchain infrastructure regarding education. Now, as El Salvador has declared Bitcoin (BTC) as a legal tender, Hoskinson realizes a moment to jump in for the capitalization over the pro-crypto energy being regulated in the country.
Nonetheless, the legislation that approved crypto as legal tender in El Salvador is named ‘Bitcoin Law’ then the possibility for Cardano to gain the same standpoint is questionable.
Blockchain has much more than just Bitcoin: Cardano community claims
As President Bukele has thrown off the World Bank and IMF disapprovals by declaring the 7th September as the date for the launch, the Bitcoin (BTC) is all set to go. The initial offer is that of a national wallet that provides immediate USD conversions as well as the Bitcoin transactions in and out. The users will be awarded $30 as a result of the wallet sign-up.
It has been evidenced by the Bitcoin activity in El Salvador despite the hindrance, that massive adoption of cryptocurrency is taking place. It is not because the certain class of society tells so but because the traditional system of currency exchange is not liked by most of the people who prefer using the alternative of crypto.
President Bukele shuns all the talk for allowing parallel cryptocurrencies
Altcoin developers are taking a keen interest in Bitcoin (BTC) as it is atop in El Salvador. However, the views of the Elsalvadoran President do not favor any other parallel cryptocurrency. While talking on a YouTube channel “What Bitcoin Did” the President responded tentatively to all the crypto industry heading toward El Salvador for the trade. He disclosed that to carry more than one cryptocurrency like USD and BTC in parallel is a risky idea. Moreover, to entertain 10 legal tenders would be impossible as it is necessary to provide to both the buyer and the seller. He concluded by revealing that although the programmability of smart contracts can take the world out of the legacy as it is much better than that of Bitcoin yet BTC is the most trusted one and the world should begin with the trust.