9 month 7 Japan , El Salvador bitcoin law comes into force , The country became the first country to use bitcoin as legal tender . For all that , The local people are generally not optimistic about the resolution , Economists also warn of possible risks .
△ Local people held a large-scale protest in San Salvador last Friday , Oppose the plan to introduce bitcoin as legal tender . source ： Marvin · Recinos / Agence France-Presse
Restaurant owner Issa · Maria was turning over two tortillas filled with cheese on the grill , Her customers scanned the bitcoin collection QR code posted on the wall , Then she received payment for the business ： One in four hundred thousand bitcoin . After this , The rain poured down from the broken tin roof , The strong wind overturned the blue plastic tablecloth , There was a power failure in the store .
With 9 month 7 The bitcoin law came into force on the th , El Salvador will become the first country in the world to adopt bitcoin as its legal tender , However, a series of unrest is waiting for this small Central American country , technology 、 Challenges such as finance and crime may make President naib · Booker (Nayib Bukele) The plan for —— Riding the cryptocurrency wave , Let the national economy sail away from the choppy sea and come to naught .
El Zonte Is a person who has about 3000 A beach town of residents , Not much like a place that will be linked to the global financial revolution . However, since the 2018 Since then , A project called bitcoin Beach (Bitcoin Beach Project) The U.S. project has made the town a Petri dish for cryptocurrency . The project distributed value free of charge to every local family 50 Bitcoin for dollars , Encourage local shopkeepers to use cryptocurrency , And use cryptocurrency to pay for dozens of social projects, from life-saving to garbage collection .
△ Isa · Maria is driving El Zonte Our restaurant
" Now you can use bitcoin to spend in local grocery stores and restaurants, or pay Internet fees with bitcoin ," Jose, founder of bitcoin beach project · Roman introduced ," For many people , This is the first time they have received cryptocurrency payment ."
Encryption enthusiasts interested in the project have brought new business opportunities to the local tourism and real estate industry ." When I was a kid , The only thing Salvadorans want to do is cross the border , Go to America . Now the children here can find opportunities in their own country ." jose · Roman said .
However, can such a circular economy experiment sponsored by a few foreign encryption preachers be popularized all over the country ？ Now we don't have a say , But we're about to see the answer .
This year, 6 month , Naib · Booker announced that bitcoin will be the legal tender of the country , From then on , He's like Elon · musk （Elon Musk） equally , Start in his Twitter Crazy order for bitcoin on the account .
Just five days after the announcement of the resolution , The Salvadoran parliament passed the bill by a majority . And then , A group called Chivo China's national digital wallet began to enter the development stage , It will distribute value to every Salvadoran resident 30 Bitcoin for dollars . Bitcoin transactions will be exempt from capital gains tax , Invest more than three bitcoins in the country （ Currently about 15.6 Thousands of dollars ） Foreigners will be granted permanent residence .
△ President naib of El Salvador · Buchler this year 6 Bitcoin plan announced in June . source ： (Reuters) -
This year, 8 month , Bank of America (Bank of America) A study of Declare enthusiastically , Bitcoin method will reduce cross-border transaction costs （ Remittances account for more than... Of El Salvador's GDP 20%）, Increased financial penetration （ The country's 70% People don't have bank accounts ）, And attract foreign investment and promote the adoption of global cryptocurrency .
However , International financial organizations and Salvadorans are obviously not so optimistic .
Ricardo, a local economist · Castaneda said ：" This law is without any technical research and public debate , Get through quickly . The president did not fully consider the impact of the law , It may cause serious macroeconomic problems , And turn El Salvador into a criminal paradise for illegal money laundering ."
The regulatory framework adopted by bitcoin has not yet been announced , And as the deadline for the new law to come into force approaches , Local banks flooded with customers who ran on dollars . They prefer to withdraw their dollar deposits , Rather than risk entering the volatile cryptocurrency market .
In recent days, , Rating agencies Moodie (Moody's) Downgraded El Salvador's debt , The reason is worried about the financial chaos caused by the promulgation of the new law . Previous news , International monetary fund (IMF) Rejected the proposal of the government of El Salvador 10 A $billion loan request , And published a blog post , Emphasize the risk of using cryptocurrency as national currency .
Castaneda said ：" The change from excitement to doubt is very fast . The argument that bitcoin can significantly reduce the cost of cross-border remittance is one-sided and exaggerated , actually , If you consider the violent shock of the encryption market , The cost of remitting with bitcoin may be higher than that of traditional remittances ."
8 month , Hopki University (Hopkins University) Released a survey of local people , Survey results show that , More than two-thirds of Salvadorans said they would not accept bitcoin payment and collection .
The currency ATM Machine manufacturer Chainbytes Eric, CEO • Greer (Eric Grill) Express , Their plan to build a mine in El Salvador faces many serious challenges . Earlier, the president said , The country's volcanoes will be used to provide energy for bitcoin mining , But local geothermal energy experts say , Combined with the current infrastructure construction in El Salvador , This is tantamount to wishful thinking .
△ Awachapan geothermal power plant in El Salvador, which uses geothermal energy for power generation
The government says Salvadorans are free to convert bitcoin into dollars , The country is 2001 In, the United States dollar was used as the national currency , To ensure the liquidity between bitcoin and the US dollar , The Salvadoran government has also established a national development bank with a capital scale of 1.5 A billion dollar Trust Fund . But now , With the rising suspicion of the people , The money is unlikely to be used .
meanwhile , The new law will also open the door to illegal acts , Bitcoin has long been trading anonymity on the Silk Road （Silk Road） Wait for the dark net to emerge , Now these criminals can even launder money through a national bank , Convert bitcoin into US dollars .
Another bigger concern is , It will make a country where most people have a very low level of financial education , Without any economic protection net , Directly exposed to the highly volatile cryptocurrency market .
stay El Zonte, Locals are developing their own common sense investment strategies . Dominga · Penny sells shaved ice drenched with fruit syrup on the beach .
△ Dominga · Penia is El Zonte Selling shaved ice on the beach , Her stall accepts bitcoin payment .
Dominga said , Every time 10 There are... In every customer 1 Individuals pay with bitcoin , She saved most of bitcoin as an emergency spending Fund , A small part of the expenditure for daily small purchases ." The staff of bitcoin BEACH program explained to us the advantages and disadvantages of accepting encrypted payment , This has changed my investment mentality , But I won't keep too much money in bitcoin , Because the price rise and fall is too big ."
author | Mat Youkee
translate & proofreading | Lin mango
From the perspective of mining （ Miracle Moore ） Translation, arrangement and editing , If you want to reprint , Please indicate the source