The American company Alphapoint will provide technological support to the government of El Salvador to solve various problems with the state bitcoin (BTC) wallet, Chivo Wallet. The app has interoperability problems on the network and there were cases of identity theft through it.
According to him official statement of the Salvadoran presidency, the company “is adding its experience to offer financial services and access to bitcoin for millions of salvadorans who are active using the Chivo wallet.”
Beyond what is not mentioned in the letter, Alphapoint’s assistance would aim to correct some flaws that Chivo Wallet currently presents. Among the main problems, the complications to interact with other wallets stand out. When making a transaction, this delay in appearing in the application or even does not finish. Failures also occur when operating with bank accounts, as CriptoNoticias has reported.
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Even more serious things have happened. At the end of December 2021, hundreds of users on Twitter warned about the disappearance of their funds in the state purse.
On the other hand, complaints of identity theft through the Chivo app abound in the Central American country. By the beginning of November, when the wallet had been in operation for two months, there were already more than 300 complaints of this type of situation, whose main objective is to keep the $30 bonus that the application grants when opening an account.
Companies that help El Salvador with the adoption of bitcoin
Alphapoint is a company that provides asset exchange, liquidity and tokenization solutions, among other services. In its websiteChivo is already listed as one of its partners.
AlphaPoint co-founder and CEO Igor Telyatnikov said they are “honored to provide the scaled and reliable solutions needed for this effort.” “The Chivo Wallet app is currently supporting millions of Salvadorans, many of them accessing financial services for the first time,” he said.
Now, what is not clear and has not been officially reported is What course will the relationship between El Salvador and Athena Bitcoin, the company in charge of developing Chivo Wallet, take? and manufacture the bitcoin ATMs distributed in the country.
In addition, Athena had another collaboration with the Salvadoran State, by offering support for the payment of salaries in bitcoin. This was done through Vanguard 1, a software to exchange dollars for BTC aimed at workers who prefer to get paid in cryptocurrency. Finally, the company also assisted in the creation of the digital structure of the government, as can be seen in this leak from August, which, indeed, ended up materializing.
CriptoNoticias consulted with Athena Bitcoin about the status of its association with the government of El Salvador, but the company decided not to provide any statements in this regard. As this medium learned, the firm will continue working with the Salvadoran State on the aforementioned projects.