Daily News Analysis

El Salvador          

23rd November, 2021 Geography

 

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Context

  • El Salvador, the only country to recognize Bitcoin as a legal tender, is planning to build an entire city based on the largest cryptocurrency Bitcoin.

 

About

  • El Salvador is a country in Central America. It is bordered on the northeast by Honduras, on the northwest by Guatemala, and on the south by the Pacific Ocean.
  • Among the Mesoamerican nations that historically controlled the region are the Lenca (after 600 AD), the Mayans, and then the Cuzcatlecs.
  • Despite high rates of poverty and gang-related violent crime, El Salvador has the second-highest level of income equality in Latin America.
  • Among 77 countries included in a 2021 study, El Salvador was one of the least complex economies for doing business.

https://indianexpress.com/article/explained/explained-el-salvador-bitcoin-city-7635303/