Sign In

Communications of the ACM

ACM TechNews

El Salvador President Steps in to Fix Bitcoin Rollout Snags


View as: Print Mobile App Share: Send by email Share on reddit Share on StumbleUpon Share on Hacker News Share on Tweeter Share on Facebook
El Salvador President Nayib Bukele.

Salvadoran President Nayib Bukele stepped in last week to manage the fraught roll-out of a payments app that underpins the nation's adoption of bitcoin as legal tender.

Credit: Jose Cabezas/REUTERS

Salvadoran President Nayib Bukele has interceded in the troubled launch of a bitcoin payments application, urging users to report problems on his Twitter feed.

Bukele asked users to close and restart the government-backed Chivo app if a "currently under maintenance" error screen appeared.

He has sent numerous tweets telling users how to download Chivo, which advertises commission-free transactions and which his governments hopes will be embraced by unbanked Salvadorans.

Bukele later said the digital wallet app was being disconnected for the second time to "improve user experience and the problems it had during the day."

Douglas Rodriguez, the head of El Salvador's central bank, said bitcoin adoption needed time to "mature," while JP Morgan Chase said some technical snags are unsurprising, given the nation "had only three months to prepare for this grand experiment."

From Reuters
View Full Article

 

Abstracts Copyright © 2021 SmithBucklin, Washington, DC, USA


 

No entries found

Sign In for Full Access
» Forgot Password? » Create an ACM Web Account