A year on, El Salvador’s Bitcoin experiment is yet to kick off
It’s been a year since El Salvador made Bitcoin a legal tender, but there still isn’t any progress on their promised crypto city.
The planned spot where the world’s first crypto city was meant to be built, it’s still surrounded by jungle.
The nation’s President, Nayib Bukele, is promising a “Bitcoin City” that will be a tax haven for hungry crypto investors. But some locals say it’s a tough slog as the nation recovers from the height of the pandemic.
In front of hundreds of Bitcoin enthusiast in 2021, the president dressed in all white and a backwards baseball cap said “invest here and make all the money you want.”
The city was promised to have its own airport, a residential area, and a mall that’s meant to look like the Bitcoin symbol from the sky.
Of course, when the country adopted Bitcoin, the price was hovering around #47,000, but it’s now fallen below the $20,000 mark.
The government hasn’t made any comments on the developments, but one expert says it was always going to be a risky move.
Director of the Institute of Science, Technology, and Innovation at Francisco Gavidia University, Oscar Picardo, says “this experiment has been very risky, too risky, for a poor country.”
“It has been seen that (bitcoin) is a very speculative, highly variable financial asset,” he continued.
It comes as President Bukele has heavily promoted the adoption of crypto, recently using he address at the key Alliance for Financial Inclusion meeting to speak on the matter.
Why is the world’s largest crypto exchange battling U.S. regulators?
U.S. regulators have filed charges against Binance, the world’s largest crypt exchange
Is the idea of a financial world that operates outside of the global banking system and eludes the reach of regulations a possibility or a pipe dream?
The Securities and Exchange Commission has filed 13 charges against the Bianace, world’s largest crypt exchange and its billionaire founder, Changpeng Zhao.
The SEC alleges that the crypto exchange worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws.
In addition, the SEC is also alleging that Binance and Zhao used market-making companies—that they controlled—to inflate trading prices and profit from of their customers.
Zhao has publicly dismissed the allegations.
Stefan Rust, the former CEO of Bitcoin.com joins us to discuss. #crypto #cryptocurrency #StefanRust #veronicadudo #Binance #ChangpengZhao
Is the metaverse the future of social network?
U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto
Who will win the global metaverse race?
China is looking to invest in the metaverse market as numerous cities rollout policy proposals.
Technology continues to change our lives forever.
As new advancements are released to the public—safety continues to be a major concern.
People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.
While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.
Analysts say it’s the next evolution in social connection and the successor to the mobile internet.
According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.
China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.
This comes after tense year of regulatory scrutiny on the countries tech sector.
The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.
The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.
So, is the metaverse taking the world by storm?
Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech
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