El-Salvador officially became the first country in the world to formally recognize Bitcoin as a legal tender, which is essentially illegal any use of BTC as a transaction medium. Speaking on the matter and congratulating the entire community, Charles Hoskinson who is the founder of Cardano has come forward to give a bit of insight.
In general he argues that El-Salvador has taken a bold step and broken tradition. This is expected to encourage more countries to follow in this footsteps.
In his recent video, Charles Hoskinson, the founder of Cardano, congratulates the entire people of El-Savador on the acceptance of Bitcoin as a legal tender in El Salvador. He said that in the beginning the crypto community was just a small community and not many parties took the potential of crypto seriously. Time after time, more and more people are beginning to recognize and acknowledge the potential of the blockchain.
Thus what El-Salvador is doing is an extraordinary achievement and this is just the beginning. He added that the crypto community will see more new achievements in the future.
In the coming years, more countries will include crypto as part of their monetary policy mechanism with central banks starting to apply it in the economy or following in the footsteps of El-Salvador.
