Bankers from 44 countries test Bitcoin Beach and Chivo wallets in El Salvador

The representatives of the financial institutions of the 44 countries present in El Salvador today are learning about the implementation of bitcoin (quotation BTC) in the Central American country. They are also testing the Bitcoin Beach wallets and the government application Chivo, both of which are critical for the adoption of bitcoin as legal tender in the country. 

Learn about financial inclusion

The characteristics of the ecosystem's most important cryptocurrency and the safest network are being explored by El Salvador's 32 central banks and 12 other financial institutions, all members of the Financial Inclusion Alliance (AFI). 

This organization, which promotes the use of financial services for the inclusion of the non-bank population, made El Salvador the host country of a mass event. The idea is that its members understand and value the benefits of bitcoin in serving the vast, non-banked world population.

"The event, which hosts delegations from 44 countries, was inaugurated today by the President of the Central Bank of El Salvador, Douglas Rodriguez, and by the Secretary of Commerce and Investments Miguel Kattan", the account of the Secretariat of Government of the Central American nation.  

He adds that during the business meetings, participants learn about financial inclusion, the digital economy, bitcoin and other topics of economic importance in El Salvador.  

Furthermore, the head of Financial Stability and Public Policy of the Central Bank, Guadalupe Escobar, showed how the adoption of the pioneering cryptocurrency has helped to increase tourism. 

During his speech, Escobar also said that the population can make remittances, transactions and payments with bitcoin, at no additional cost, through the government platform Chivo Wallet.

Bitcoin is not the main topic of the event

Bitcoin is not the main topic of the event, which will last until Thursday 19 May, but El Salvador is showing the results obtained with bitcoin in terms of financial inclusion, which is the central theme of the international event. 

However, not all participating countries are in favor of cryptocurrencies, including Paraguay, a country that has already warned its population against the use of bitcoin, as we reported last year. 

In fact, this time he released a new statement denying his involvement in Bitcoin-related discussions in El Salvador, a Twitter user warned. 

“The Central Bank of Paraguay participates in the 18th working meeting on the financing of small and medium-sized enterprises of the Alliance for Financial Inclusion. The objective of the meeting is not related to cryptocurrencies or similar. Likewise, the BCP does not intend to discuss cryptoassets at this meeting, an issue on which it has established an institutional position in due course, ”the statement read.