The Director of Technology and Business Innovation of the Government of El Salvador, spoke about the creation of new companies in her country
Against the backdrop of the Blockchain Land event, Cointelegraph en Español was on hand to report that, according to the government of El Salvador, the country has attracted companies and created businesses by converting Bitcoin into official currency.
At the Blockchain Land event, held in Nuevo León, Mexico, Mónica Taher, Director of Technology and Business Innovation of the Government of El Salvador, stated that after the approval of the law that made bitcoin legal tender in the country, a group of businesses and fintech found a place to set up their companies. He also claimed that direct business creation in the technology sector grew by 7% due to the installation of companies that operate with cryptocurrencies.
- Maggie Wu was presented at Blockchain Land Nuevo León 2022
Monica Taher also said that recommends that countries that want to transform Bitcoin into their national currency invest in education. The director also stated that Blockchain and cryptocurrencies will enter the curriculum of the country’s primary schools and thus intend to train the local workforce to meet the demand for fintech workers that are emerging in El Salvador.
In addition to the legal aspect, El Salvador has created an entire infrastructure to attract investment from companies that work with cryptocurrencies. For example, the project “BitcoinCity”which aims to create a futuristic neighborhood and tax haven for blockchain companies.
- Sustainable Blockchain Summit 2022 will be held in the city of Bogotá, in Colombia
During the presentation of the project in November, Nayib Bukele, President of El Salvador declared: “We will have no income tax forever. No income tax, no property tax, no rental tax, no municipal tax and no CO2 emissions. The only taxes we will have in ‘Bitcoin City’ are VAT, half will be used to pay municipal bonds and the rest for public infrastructure and city maintenance”.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
- Maggie Wu was presented at Blockchain Land Nuevo León 2022
- Sustainable Blockchain Summit 2022 will be held in the city of Bogotá, in Colombia
- Juan Rodríguez was in charge of opening the Mainstage in Blockchain Land Nuevo León 2022
- MAD Crypto was presented at Blockchain Land Nuevo León 2022
- The Governor of Nuevo León wants to use Blockchain to fight corruption
- El Salvador Geothermal Plant could enable bitcoin mining for outside investors
- The Blockchain Land, Nuevo León 2022 was presented in accompaniment of the state authorities