El Salvador has chosen a new company to finalize the Chivo crypto wallet
AlphaPoint should fix all issues and add new features to the app
Also, the authorities are preparing a project to deploy 1500 Cryptocurrency ATMs across the country
The Government of El Salvador has entered into an agreement with AlphaPoint, which will take over the development of Chivo’s internal crypto wallet. Users note the presence of technical problems in the application related to scalability and stability.
For the first time, local authorities introduced a client for conducting transactions in cryptocurrency in September, shortly after the legalization of BTC. According to President Bukele, Chivo’s audience is over 2.1 million people.
In October, the volume of transactions through the software reached 02 thousand per day. But the program could not cope with such a load. The agreement with AlphaPoint is intended to solve this problem.
In addition to troubleshooting, the company will improve the functionality of the wallet. It is expected that Chivo will be able to pay utility bills and taxes with cryptocurrency. The application will become simpler and more accessible.
Among other things, Lightning support will appear in the software to provide “
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“El Salvador and President Bukele lead the world stage thanks to this bold experiment to implement BTC at the national level. We are honored to participate in it, offering scalable and modern solutions,” AlphaPoint spokesman said.
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El Salvador is also looking for other ways to effectively integrate cryptocurrency into economic processes. In particular, the country is ready to support small and medium-sized businesses with low-interest loans secured in bitcoins.
