I would like to point out that not only in El Salvador before the adoption of the Bukele law on the legalization of bitcoin, the US dollar is the only official currency. And such countries as East Timor, Ecuador, Zimbabwe and the Marshall Islands also do not have their official currencies issued by the central banks of these countries. Also, dollars have a completely legal circulation in Guam, Puerto Rico and Palau. It seems to me that the governments of these countries, simply to ensure the well-being of the people of their countries, are simply obliged to look at the experience of El Salvador. These are also small countries in terms of population and now they can still introduce mass payments using bitcoin, including taking into account the possible use of the LN protocol.
If I were the population of these countries and local fans of cryptocurrencies, I would draw the attention of my deputies and government officials to the fact that perhaps it is time to repeat such a bold step by Bukele and also start legalizing bitcoin at the level of local legislation.
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Maybe one day more countries will follow the steps made by Nayib Bukele. Especially several countries that have conditions similar to El Salvador. And in the end it seems it will depend on the president's interest in a particular country. El Salvador is lucky because it has a president who has a high interest in innovation and technology, especially in the field of cryptocurrencies, especially Bitcoin. So it seems that for a country if it wants to follow El Salvador's steps, it must first have a president who has a high interest in bitcoin like Nayib Bukele.
Yeah, that's exactly right!
The people of El Salvador are lucky to have such an active and young president who is well versed in modern technology. Including in the IT field. It remains only to wish the voters of the small countries listed above to finally elect the same young and active presidents.
And do not elect more people who are over 55-60-70 years old as presidents, who do not see at all how the IT sphere will develop, including blockchain technology and bitcoin. Unfortunately, voters more often prefer older presidents. And if such a president does not have young and active advisers, then the chances of bitcoin legalization at the level of the country's legislation are not very great.
But getting rid of the dictatorship of the US dollar is in any case good for the national development of any country. And I think that in any case, this ultimately leads to an improvement in the standard of living of the general population.
