El Salvador will privatize or close the cryptocurrency wallet “Chivo”. El Salvador made bitcoin legal tender in 2021.
Since Nervos connects to Bitcoin Lightning via its Fiber network, this could be a great opportunity to attract many users. Could Nervos adopt this wallet, or release a visually and nominally close successor version?
I would be reluctant to start a DAO vote for a takeover, that should be done by someone who considers it feasible.
El Salvador has 900,000 fixed telephone lines, 500,000 fixed broadband lines and 9.4 million mobile cellular subscriptions. Much of the population is able to access the internet through their smartphones and mobile networks, which liberal government regulation promotes mobile penetration over fixed line including the deployment of 5G coverage (which testing of began in 2020).
El Salvador privatizará o cerrará el monedero de criptodivisas «Chivo». El Salvador convirtió el bitcoin en moneda de curso legal en 2021.
Como Nervos se conecta a Bitcoin Lightning a través de su red de fibra, esto podría ser una gran oportunidad para atraer a muchos usuarios. Podría Nervos adoptar este monedero, o lanzar una versión sucesora visual y nominalmente cercana?
No me gustaría iniciar una votación DAO para una toma de posesión, que debe ser hecho por alguien que piensa que esto es factible.
Hey @knmo, the idea in itself is brilliant, but sadly it’s not gonna work: Bitcoin Lightning in El Salvador was not able to get traction among the locals, hence the current event.
That said, if we were to market Fiber + USDi + easy conversion to local fiat, now that could get a different result, but you still need boots on the ground to do any operation of this kind: you need locals showing other locals how convenient it is to use and cash out.
For example, as you may know, in Asia you can pay by QR code (different country different QR), but for reference this QR moment never happened in Europe. Our hypothetical target would be achieving a “pay by QR code” in El Salvador.
Then again, who would use it to pay? Not the tourists, not the locals (likely paper cash based local economy)
All in all, it seems like requires a lot of investment for an uncertain result. It would be easer to target tiny countries with high inflation rate.
I doubt that this is the real reason for this. Rather, someone high up has probably figured out that there are now ways like RGB++ and Nervos-Fiber that allow you to use Bitcoin Lightning as well, and even better, without government control.
Even if only 12% of the citizens of El Salvador have used it, that’s still at least 723,597. Population 2024 census 6,029,976
Apart from that, a large proportion of citizens there have at least heard of Bitcoin through public government measures. With improvements such as Stable-Coin via Lightning, this could be brought to the people as a “new, better version”.
I myself would be willing to move there personally, maintain local nodes and introduce the new version to people in the streets and stores.
It would be really cool, just to me seems unlikely. Remember most crypto users just use CEXs and they trust them with their crypto…
Wow, tu dedicación es muy admirable, ¿cómo va tu español hablado?
As a small scale experiment you could try to make your peers switch to Fiber first and see how it goes. On my side, even if I tried, I’m not sure I could convince to use Fiber even my own wife!!
We already have the best possible wallet for onboarding the general public with Joyid, so I’m not sure a Chivo clone is needed.
But like Phroi is saying, getting the world to start using Lightning and Fiber isn’t going to be easy.
Maybe we should just start with getting the CKB community to actually get involved with the ecosystem first and then we can take on the world after that.
I love your energy though man, you’re on the right track!
