Building Trust in the Bitcoin Network in El Salvador

Building Trust in the Bitcoin Network in El Salvador

By any measure, the Bitcoin network is still in its infancy. While the concept of digital money is decades old – most dollars today only exist on individual account holder’s computer screens and in centralized ledgers at banks – the idea of holding one’s wealth in self-custody without a third-party validator is new. Bitcoin is the first iteration of triple-entry accounting in the history of capitalism, and the first time that money and state have been separated so people can self-custody their wealth in a digital bearer asset. Many individuals have trouble trusting the system, because they have spent their entire lives transacting within the bank-mediated fiat system.

Jonathan Martin is a

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