He noted that 70 percent of the population now does not have a bank account and operates in an informal economy.
Wow, that's quite a statistic--and I'm not sure how that 70% operates without banking services. Sure, you can buy food, clothes, and pay your rent with cash but where I live it's pretty hard to pay for things like utilities, internet, and phone service without having a checking account that has a debit card linked to it. I don't think El Salvadorians are using credit cards for all of that, since it's usually hard to get one unless you have some kind of bank account.
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The real question is how the hell Government is operating even if they dont have the income? I mean if 30% peeps have the bank account then only those must be tracked by IRS and get paid for taxes. Wondering how they done with the infra of city and counties in there with such low income and high population.
Secondly, having crypto as option does not seem to be ok for miami if people are not even using the bank accounts? There must be reason why they dont use it. May be hand in hand cash structure is being preferred?