Al Jazeera English published this video item, entitled “El Salvador approves Bitcoin as legal tender” – below is their description.
El Salvador has become the first country in the world to adopt a cryptocurrency as legal tender.
Its congress approved a law allowing Bitcoin to be used for everyday transactions.
Supporters of the measure say the new law represents a vote of confidence in using blockchain technology to bring informal sector workers into a 21st century economy.
Al Jazeera’s Manuel Rapalo reports.
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Al Jazeera English YouTube Channel
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In This Story: Cryptocurrency
A cryptocurrency, crypto-currency, or crypto is a digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.
Bitcoin is the first decentralized cryptocurrency. Since the release of bitcoin, other cryptocurrencies have been created.
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Major exchanges and platforms enable the purchase, trading and swapping of cryptocurrencies. To get started with crypto, register with an exchange or platform such as:
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Voting is a method for a group, such as a meeting or an electorate, in order to make a collective decision or express an opinion usually following discussions, debates or election campaigns. Democracies elect holders of high office by voting. Residents of a place represented by an elected official are called “constituents”, and those constituents who cast a ballot for their chosen candidate are called “voters”. There are different systems for collecting votes, but while many of the systems used in decision-making can also be used as electoral systems, any which cater for proportional representation can only be used in elections.
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