Playa El Zonte

Playa El Zonte (sometimes known as Bitcoin Beach) is a beach located in El Zonte, El Salvador.[1]

El Zonte is a town with a population of 3000. According to Reuters, "El Zonte is visibly poor, with dirt roads and a faulty drainage system."[2] When an anonymous American began sending Bitcoin to non-profits there, the non-profit workers began an initiative to start a Bitcoin ecosystem.[3][4] The beach became one of the first places in El Salvador to accept bitcoin as a method of payment which President Nayib Bukele cited as an inspiration for the law recognizing the cryptocurrency as one of El Salvador's two official currencies; the other being the US Dollar.[5]

  • Rocky shallows of El Zonte Beach
  • Rugged coast of El Zonte Beach

References
  1. Bloomberg article
  2. "In El Salvador's bitcoin beach town, digital divide slows uptake". Reuters. June 14, 2021.
  3. "The father of el Salvador's Bitcoin Beach received an anonymous donation of a cryptocurrency fortune - now the local economy runs on it".
  4. Mak, Aaron (June 16, 2021). "What Happened When a 3,000-Person Village in El Salvador Became "Bitcoin Beach"". Slate Magazine.
  5. "El Salvador's Bitcoin Beach experiment highlights digital divide". South China Morning Post. June 15, 2021.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.