On June 5, El Salvador President Nayib Bukele declared that bitcoin would become legal tender in El Salvador. On September 7th of this year, that law came into effect.
But the government of El Salvador (and the self-described "Emperor", Nayib Bukele) went further than just permitting the use of Bitcoin for payments- they had a wallet built for the people and offered a $30 signing bonus for citizens who would onboard with their government identification number. Although many in the Bitcoin community see this as a gesture of massive freedom, some see the glaring red flags of the closed-source custodial app.
Oscar Salguero is senior mobile developer with over 25 years of coding experience and a native Salvadorian, a country he lived in for the first 26 years of his life. Since the release of the Chivo wallet (the state sanctioned Bitcoin wallet promoted by the president), Oscar has been peeling away at the closed source application to better understand how the app actually works. For more about our guest, please visit his website:
You can follow Oscar on twitter (@OscarSalguero) and his hobby project (@CodePlayTalkDev) where he likes to stream himself coding, playing games and chatting. If you are also curious about the Chivo wallet and want to help in testing or have interesting information about your findings, reach out to him or myself and we will gladly exchange info.
During this episode we discuss the mysterious private companies that were selected to build the state sanctioned application. You can read the article we mention in our discussion here:
We also touch on many of the features of the app, the good, the bad and the ugly.
Poll from last week on spotify:
"Is Bukele's Bitcoin Law doing good for El Salvador?"
25 votes were cast
16% said "Yes"
84% said "No"
Follow me on twitter, as always (@aviv_WtMS)