Salvador offers citizenship to 5,000 highly skilled foreigners

[jafo]

And the amateurish awards of the year goes to:

Security Breach Hits El Salvador's Official Bitcoin Wallet: Chivo Under Threat

In a recent news that has unsettled the crypto community in El Salvador, the Chivo Wallet—a key component of the country's pioneering crypto program—has

insidebitcoins.com

This was to be expected! There are so many "Global special interests vying to destroy El Salvador and their vision."
Even Floyd Mayweather lost once in his life. It only made him stronger after that!
Will EL Salvador crush under pressure or rise above the challenges?

 

[Rotor]

This was to be expected! There are so many "Global special interests vying to destroy El Salvador and their vision."
Even Floyd Mayweather lost once in his life. It only made him stronger after that!
Will EL Salvador crush under pressure or rise above the challenges?

Yes for sure some would really enjoy to see them fail . Being the first mover in this case is not really an advantage, you make all the mistakes and take all the beatings that those coming after you will make sure to avoid.

 

[0xDEADBEEF]

And the amateurish awards of the year goes to:

Security Breach Hits El Salvador's Official Bitcoin Wallet: Chivo Under Threat

In a recent news that has unsettled the crypto community in El Salvador, the Chivo Wallet—a key component of the country's pioneering crypto program—has

insidebitcoins.com

The only thing worse than a compromised organization, is an organization that does not know they are compromised.

 

[JackAlabama]

The only thing worse than a compromised organization, is an organization that does not know they are compromised.

i dont get it at all why they must roll with their own.
Lets say a country like Singapore might could successfully run their own wallet/infra because they clearly have the needed resources already today (cash and education), but El Salvador has none of the required resources readily available to run their own wallet/infra etc at this point in time.

They should just stick to open source tech and promote the usage of one of the available wallets as there are good choices around.
(they dont make bank from seignorage anyway even with usd, so the goal they have with chivo is even more obscure).

 

[Rotor]

i dont get it at all why they must roll with their own.

I don't get it either and it has always bothered me. A nationwide CBDC rollout test with a Bitcoin pretext?

 

[jafo]

i dont get it at all why they must roll with their own.

Neither do they! I figured this out 30 years ago. It took me almost ten years of traveling to Latin America and "other" places like this to figure it out.
My exposure to wealthy, intelligent, and educated people of those regions in college in the US and in European schools did NOT match my experience with the populace on the ground.
The problem with these places is that "In the land of the blind, the one-eyed man is king."

PS. Outliers DO exist in these places, but they are few and far between.