From Bitcoin-Backed Bonds to Video Games: El Salvador Strengthens its Digital Economy
Children in public school in El Salvador learn to mine Bitcoin, setting up and using their own node. Salvadoran Congress approves Bitcoin-backed bonds to finance the future “Bitcoin City”, promoted by Nayib Bukele. El Salvador, known for being the first country to adopt Bitcoin as legal tender, continues to strengthen its commitment to cryptocurrencies, purchasing [...]
- Children in public school in El Salvador learn to mine Bitcoin, setting up and using their own node.
- Salvadoran Congress approves Bitcoin-backed bonds to finance the future “Bitcoin City”, promoted by Nayib Bukele.
El Salvador, known for being the first country to adopt Bitcoin as legal tender, continues to strengthen its commitment to cryptocurrencies, purchasing one Bitcoin daily from September 2021. This persistent strategy underscores the country’s long-term vision towards integrating cryptocurrencies into its economy, as we have previously elaborated on Crypto News Flash.
Boosting Cryptocurrency Education
In a remarkable educational initiative, El Salvador has installed the third Bitcoin node of the year in a public school, where children not only celebrate, but also learn about Bitcoin mining.
We're thrilled to announce that the third #Bitcoin node of 2024 has been installed by kids in a public school in El Salvador
Kids are super excited and even the school band joined in to celebratethis awesome day!
Thanks@bitcoinofficesv @EducacionSV@DecouvreBitcoin pic.twitter.com/Iapijclvmi— Node Nation (@NodeNationSV) July 4, 2024
This activity is part of the “bitaxe” project, where students set up their own node and participate in a solo mining pool, fully educating them on the technology behind cryptocurrencies.
Future Investments and Development of ‘Bitcoin City’
El Salvador’s Congress has given the green light to Bitcoin-backed bonds, a step towards funding the ‘Bitcoin City’ project proposed by President Nayib Bukele. This city aims to be a financial hub attracting global investment, using the profits generated by these bonds.
Integration of Stablecoins and Gaming in the Bitcoin Economy
In addition, El Salvador is exploring the use of stablecoins, enabling more stable and accessible transactions for its population. In a cultural twist, the country is also venturing into the world of video games with the launch of the game “Hero of Bitcoin”, playable on the Nintendo Game Boy, which celebrates the adoption of Bitcoin in the country.
The presale for @HeroOfBitcoin is LIVE on @geyserfund!
Join the #Bitcoin adventure in El Salvador, playable on the Nintendo Game Boy. Check my bio for the demo & more.
https://t.co/byEvVGfuVJ #ElSalvador #GameBoy #RetroGaming
pic.twitter.com/uaToiHTPSY
— Mars (@Marsmensch) July 6, 2024
El Salvador’s commitment to Bitcoin not only reflects its position as a leader in the adoption of cryptocurrencies, but also as an innovator in education and the use of financial technology, projecting the country on a global stage as a pioneer in the Bitcoin economy and new capital markets.
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