Bitcoin Is Replacing The El Salvador Economy For The Unbanked

Bitcoin was created to become a monetary system that exists outside the control of third parties, such as governments and banks. It is also a solution for unbanked individuals to hold an account that stores value, and can transfer that value to others on a peer-to-peer basis.

And while this is a long-term vision for the first-ever cryptocurrency, in a rural village in El Salvador, BTC is already replacing the hard-hit economy and providing a much-need solution for unbanked citizens residing in an area along the coast called Bitcoin Beach.

Bitcoin Beach Is Home to Budding BTC Economy, Ideal Solution For Unbanked During Crisis

All nations across the globe are currently struggling financially, as the coronavirus has caused a complete stop of economic production due to lockdown conditions in an attempt to reduce the impact of the outbreak.

Major economic superpowers such as the United States and China are suffered, but it’s the cash-strapped regions where unbanked citizens are…