El Salvador President Explains Difficulties With Bitcoin Launch

Get real time updates directly on you device, subscribe now.

The deployment of cryptocurrency infrastructure in El Salvador is not going without problems, President Nayib Bukele admitted on Twitter. According to him, the authorities had to temporarily stop the registration of new wallets through the official Chivo app, as well as prohibit its download on smartphones of the latest models due to current problems.

“Both of these aspects will be reactivated once the issues are resolved,” Bukele wrote, adding that he expects Chivo to be fully operational within a couple of days. – Technical errors were eliminated by 95%. Over the next days, Chivo will become 100% operational.

At the same time, the president noted that 200 terminals installed in the country for exchanging bitcoin for dollars “work perfectly”, as well as 50 terminals with Chivo support in the United States.

According to Bukele, the early launch of the wallet was the reason for the crashes:

“The full launch within three months was a challenge, and we made mistakes, but we are already fixing them, and hundreds of thousands of Salvadorans can use Chivo without any problems.”

Bukele also revealed that Chivo’s user base has reached half a million since the wallet was released last Tuesday.

Chivo has been experiencing disruptions since the first day the wallet was put into maintenance mode to increase capacity. Subsequently, users continued to experience difficulties when using the application, including when sending and withdrawing funds, and some described its functionality as “almost zero”.

Stay in touch! Subscribe to World Stock Market in Telegram.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.