It was on September 7, 2021, when Bitcoin (BTC) was inducted into the El Salvador (ES) law as a legal tender. The ES President Nayib Bukele, who is the main person behind the legalization of Bitcoin was too excited at its debut.
Bukele’s dedication and enthusiasm for the legalization of Bitcoin were witnessed by the world when he made several developments surrounding Bitcoin in a matter of a month.
In order to bring as much exposure to Bitcoin as possible in the country, he announced that every adult in ES was eligible to receive $30 worth of Bitcoin. ES’s (adult) citizens could reportedly receive $30 worth of Bitcoin by registering themselves on the Bitcoin wallet “Chivo”, designed solely for ES.
As Bitcoin was inducted as a legal tender on September 7, 2021, people started downloading the Chivo application on a very large scale. However, amidst all the excitement about the launch of Bitcoin in the country, Bukele missed out on one thing.
In order to expedite the process of Bitcoin adoption, Bukele completely trusted the skills and capabilities of the Chivo developers, which soon became a problem for ES citizens.
The moment Chivo went live, several complaints started emerging in regards to its functionalities. Initially, it complained that the Chivo wallet was only available for Samsung S20 and Samsung S21 users. However, the application was available for download both on Google Play Store and Apple’s App Store.
On the other hand, the people who were able to download Chivo wallet on their iPhones complained they did not receive $30 worth of Bitcoin. This soon became a huge problem for the entire Bitcoin adoption process in ES and something had to be done to address the issue at the earliest.
Now, the only thing remaining between Bitcoin and the local citizens is the Chivo application that has proven to be the main hindrance. However, the development teams for Chivo are looking into the matter to fix the problem at the earliest.
It has been announced by the Chivo development team that until the issue is fixed, no new registrations will be catered. Therefore, the option of registering through the Chivo wallet has been disabled until further notice. Similarly, the development team has also made the application inaccessible through the application stores, to bar any further downloads.
As always, Bukele is fully active in this matter and he has been providing updates on it as they are made available. It was on Monday, September 13, 2021, when Bukele had tweeted about the teams fixing the problem with the application.
He has recently hinted that the development teams are 95% done with fixing the problem. There are high chances that the Chivo wallet will be made available for downloads and registrations by the end of this week. Once it happens, Bitcoin prices may experience another jump.