According to a recent release, up to three-quarters of Salvadorans are skeptical of President Nayib Bukele’s Bitcoin adoption plans.
The survey, which surveyed 1,233 people across El Salvador between July 1 and 4, revealed that only 20% approved the plan to make Bitcoin a legal tender.
The study, which has a margin of error of 2.8%, was conducted by researcher Disruptiva, which is affiliated with Francisco Gavidia University. According to Reuters, it found that about 54% of the population saw the Bitcoin adoption program as “not at all correct,” while a further 24% described it as “only slightly correct.”
Nearly half of respondents, or 46%, admitted that they knew nothing about Bitcoin. About 65% of them were not open to the idea of being paid in digital currency.
The head of Disruptiva’s Institute of Science, Technology and Innovation, Oscar Picardo, commented that “this is a risky venture into digital transformation.”
The country’s new Bitcoin law was passed on June 9 and is due to take effect on September 7, making the world’s leading cryptocurrency a parallel official currency in the Central American nation. Late last month, the government unveiled a Bitcoin wallet called Chivo, but said it is only an available option.
At the time, Bitcoin aficionado Bukele said the wallet will not incur fees or commissions for transfers and will not take a cut to convert BTC to USD.
In late June, he declared that every Salvadoran adult who downloads the Chivo Wallet app is eligible for a $ 30 BTC airdrop.
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President Bukele has proclaimed BTC adoption as a way to facilitate remittances from citizens living abroad and reduce dependence on the US dollar, which has been the national currency since 2001.
About 70% of the population of El Salvador do not have access to bank accounts or any financial services, but if this little study is anything to go by, they have not yet seen the benefits of Bitcoin as a possible solution.