"Since Tuesday, Bitcoin in El Salvador has stumbled along in the form of the
Chivo Wallet. The “$30” bonus is motivating people to sign up with Chivo! Then
they find out all the ways it doesn’t work.
Chivo could be a good idea! A national payment system, with government backing.
Public kiosks, helpful customer service staff at the kiosks. Get money moving
faster, stimulate the economy.
Trust is key, though. People worry about money. A new payment system must show
itself to be solid, and build itself a reputation as being solid.
In the UK, the touch-to-pay card system was created in 2007, and widely
promoted by banks from 2012. It proved itself to be convenient and trustworthy
— by 2017, more payments were made (both in number and volume of transactions)
by touch-cards than with physical cash.
If only Chivo hadn’t been set up by overconfident incompetents."
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics