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Even if different international locations don’t follow El Salvador’s lead, the fact that a single sovereign nation state would undertake bitcoin as legal tender is of nice consequence. Legislators from Brazil, Mexico, Colombia, and Argentinasoon followed. A bitcoin foreign money standard, undergirded by the Lightning Network, allows Salvadorans residing in the U.S. and elsewhere to send cash residence without the numerous fees widespread with Western Union and other international transmitters. If all Salvadoran emigrés have been to use the Lightning Network for remittances, an additional $1 billion might flow into El Salvador’s financial system each year. The invoice anticipates a lot of the practical issues involved with adopting bitcoin as authorized tender. The U.S. dollar may also stay authorized … Read More