El Salvador's authorities will try to resolve the Chivo wallet's problems by using AlphaPoint's technology.
El Salvador’s authorities will try to resolve the Chivo wallet’s problems by using AlphaPoint’s technology.
The government of El Salvador and the American financial technology provider – AlphaPoint – joined forces to improve the technology for the Chivo wallet. The feature allows access to bitcoin for millions of Salvadorans.becoming the first state to accept bitcoin as a legal tender inside its borders. The authorities also introduced the Chivo wallet – a crypto wallet where locals can facilitate BTC transactions.
At first look, it was met with huge enthusiasm among locals. At the end of September, President Nayib BukeleNonetheless, the mass adoption led to some issues such as slow transactions, blocked accounts, unauthorized charges, and other technical glitches.with AlphaPoint – a New York City-based software firm that supports crypto projects. Specifically, the authorities vowed to change the frontend and backend technology provider for its Chivo wallet with the help of its new partner.
Additionally, El Salvador involved bitcoin in some extravagant endeavors. In October last year, the government said it would use some of its profits accumulated from bitcoin purchases to
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