Klaytn’s Future Looks Promising Amid El Salvador’s Ratification of BTC
A few days ago, El Salvador ratified BTC thus becoming the first country in the world to accept BTC as a legal tender. The decision that has been passed in the National Congress with almost 80% of votes in favor sets a precedent for other nations to integrate Bitcoin transactions in their legal apparatus.
A look on El Salvador
El Salvador is the smallest country in South America with a GDP of around 5 billion USD, which places it among the South American countries with a better quality of life. This is mainly due to the influx of capital that is entering the country through people that have been working abroad sending money back to their relatives in El Salvador. However, this economic pattern keeps El Salvador susceptible to poverty especially as the USD keeps depreciating over time.