El Salvador deploys bitcoin ATM and accelerates the layout of Twitter and Facebook!

ZB Academy
3 min readSep 1, 2021

On September 1, the Salvadoran government plans to deploy 200 bitcoin ATMs in the country and connect them with Chivo, a digital currency wallet. According to the news learned by the ZB Research Institute from the twitter of President Nayib Armando Bukele of El Salvador, there will be 50 financial branches in the country to support bitcoin deposits and withdrawals, and the transaction will also be commission free. Analysts believe that if overseas remittances occur, El Salvador will save a lot of intermediate costs every year.

In addition, according to ZB Research Institute, a series of laws related to bitcoin will come into force in El Salvador next Tuesday, and bitcoin and US dollar will be used as legal tender at the same time. El Salvador has released its first bitcoin advertisement, which shows that bitcoin will obtain the same legal currency status as the US dollar. But not as a mandatory currency, people can freely choose whether to trade in bitcoin or US dollars.

On September 1, CFTC staff in the United States clarified how cryptocurrency assets are regulated by CFTC or SEC in the United States. ZB Research Institute believes that the recent popular growth of encryption products and other digital assets has aroused people’s concerns about the tightening of cryptocurrency regulation. In fact, CFTC does not regulate commodities (whether they are securities or not), but derivatives.

On September 1, the Australian government is considering formulating new laws to strengthen the supervision of digital payment services of technology giants such as apple and Google under Alphabet. According to the statistics of ZB Research Institute, the payment through digital wallet has increased by 6% in the past two years, and the transaction volume of digital wallet has increased by more than 100% to a $2.1 billion. The Australian government should take into account that its financial system will be threatened by digital payment services.

On September 1, Twitter launched the “Tip Jar” function. The latest beta version of Twitter will further extend the function. Users can tip content creators with bitcoin in the future.In the test version, the user can’t select bitcoin for reward, but the code shows that Twitter has left a preset interface. In the official version of Tip Jar, Twitter will allow users to add bitcoin payment links.

Meanwhile, Facebook digital wallet Novi is recruiting staff for encrypted digital related posts in Singapore. ZB Research Institute believes that Novi may choose the Philippines as the preferred publishing place. According to the statistics of ZB Research Institute, 82.7% of Filipinos are Facebook users, and the market penetration level is even slightly higher than that of countries such as the United States or Australia.

On September 1, Raymond Chan, chief executive officer of ether Securities Hong Kong, a subsidiary of Jiufu loan platform, said that the R & D team in Singapore has increased resources and will focus on the R & D of NFTs, Metaverse and other blockchain technologies and services.



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