cross-posted from: https://exploding-heads.com/post/38831

“Assuming cars were a failure because after the very first year Ford started production in 1896 no more than 2% of the population had a car would’ve been quite myopic,” said Paolo Ardoino, chief technology officer at Bitfinex. “The government has a long-term vision. The crypto industry is highly technological and that is the type of industry that everyone should want in its country.”

Bitfinex will serve as a trading platform for the volcano bond and will apply for a license to operate in El Salvador once the government passes a digital securities law to underpin the issuance. Canada-based crypto lending and savings company Ledn saw a 678% increase in users in El Salvador over the past year, according to co-founder Mauricio Di Bartolomeo. New-York based AlphaPoint was hired to fix bugs in the Chivo wallet and a series of other companies have also worked on the country’s rollout.