Blockchain.com’s co-founder thinks that there are “valid criticisms” in El Salvador’s Bitcoin adoption.
El Salvador’s adoption of the crypto has not been the smoothest of rides with pockets of protests springing in the capital.
The country has forged ahead, increasing its BTC holdings and offering incentives for the use of the asset.
Nicolas Cary, co-founder of Blockchain.com has expressed his displeasure over the manner the El Salvadoran government is handling the adoption of Bitcoin as a legal tender. Nevertheless, he believes that the move will spur more countries to adopt the asset as their official currency.
El Salvador’s decision to adopt Bitcoin as legal tender generated a frenzy around the world, with enthusiasts and critics airing their opinions about the move. For Nicolas Cary, co-founder, and vice-president of Blockchain.com, although laudable, the decision was fraught with some stumbling blocks.
“I think there’s some valid criticisms of how the programme is rolled out in El Salvador in terms of being top-down.
“One of the main ethos of crypto is that there’s really grassroots adoption, and people are doing it voluntarily,” he said. He made his opinion known at the Token2049 conference that took place in London.