Most recently, a report was released where a survey of residents of El Salvador was conducted. And judging by this survey, bitcoin adoption in El Salvador failed.
Full report here: https://www.nber.org/system/files/working_papers/w29968/w29968.pdf?utm_campaign=PANTHEON_STRIPPED&%3Butm_medium=PANTHEON_STRIPPED&%3Butm_source=PANTHEON_STRIPPED
It reflects the real state of affairs and it is, to put it mildly, deplorable. Here are some of the indicators:
Judging by this chart, the number of regular users of Chivo is much less than the number of people who learned about it or tried to use it, most likely to extract those 30 dollars of initiative from the state.
Of course, there is no need to talk about such functions as paying taxes or receiving money transfers through Chivo. Almost no one used these functions.
The number of downloads of the wallet was high on the wave of hype and of course thanks to the airdrop. Over time, interest in this wallet has constantly dried up.
Despite strong support from the state, in the country, after 7 months, every 3 people do not know anything about the Chivo wallet.
Businesses in El Salvador are not interested in bitcoin, although it is a prerequisite from the state that they add bitcoin, but the rate of addition is only 20%, and this is 7 months after the launch:
Well, as I said earlier, there are a lot of those who downloaded the wallet just for the sake of receiving airdrop money. The graph confirms this, most of the users have never added money to the wallet.
Full report here: https://www.nber.org/system/files/working_papers/w29968/w29968.pdf?utm_campaign=PANTHEON_STRIPPED&%3Butm_medium=PANTHEON_STRIPPED&%3Butm_source=PANTHEON_STRIPPED
It reflects the real state of affairs and it is, to put it mildly, deplorable. Here are some of the indicators:
Judging by this chart, the number of regular users of Chivo is much less than the number of people who learned about it or tried to use it, most likely to extract those 30 dollars of initiative from the state.
Of course, there is no need to talk about such functions as paying taxes or receiving money transfers through Chivo. Almost no one used these functions.
The number of downloads of the wallet was high on the wave of hype and of course thanks to the airdrop. Over time, interest in this wallet has constantly dried up.
Despite strong support from the state, in the country, after 7 months, every 3 people do not know anything about the Chivo wallet.
Businesses in El Salvador are not interested in bitcoin, although it is a prerequisite from the state that they add bitcoin, but the rate of addition is only 20%, and this is 7 months after the launch:
Well, as I said earlier, there are a lot of those who downloaded the wallet just for the sake of receiving airdrop money. The graph confirms this, most of the users have never added money to the wallet.
Also, go to table 3. These people who have been continuing to use the Chivo wallet appear to be using it for payments made through American dollars. The government of El Salvador might have created their own dollar stablecoin unintentionally instead of bitcoinizing their country hehehe. It appears Jack Maller's original plan for Strike in using USDT might have been more preferable for the people.