Connect with us

World

Bukele plans world’s first “Bitcoin City” for El Salvador

Published

on

Bukele plans world’s first “Bitcoin City” for El Salvador

Nayib Bukele has revealed that El Salvador will look to become the world’s first “Bitcoin City” with plans having already been drawn up.

Indeed, the Central American country already has the potential to make it happen after it introduced Bitcoin Law earlier in 2021, with the Bitcoin becoming a form of legal tender permitted within the nation. Now, it seems that Bukele is ready to double down on the ideas and ambitions that he has in regards to digital assets, as he continues to feel it can fuel investment within the region.

The idea of the “Bitcoin City” was revealed at an event that took place over an entire week in which the president was speaking at and mentioned that the project would be funded initially by bitcoin-backed bonds. Planned to be located in the eastern region of La Union, it would get geothermal power from a volcano and would not levy any taxes on those situated there, except for the traditional value-added tax (VAT). Nayib Bukele, who spoke in English at the event and was dressed in all white and wearing a baseball cap with it on in reverse, exclaimed:  “Invest here and make all the money you want. This is a fully ecological city that works and is energized by a volcano.”

Advertisement

The president revealed that half of the VAT that would be levied would be used to fund the bonds that were issued to build the city, whilst the other half would then be used to pay for services such as refuse collection, before estimating that the public infrastructure would come to a cost of around 300,000 bitcoins.

Bukele has already likened his plan to the cities that were founded by Alexander the Great, as he revealed that “Bitcoin City” would be circular, that would have a number of residential and commercial areas, as well as an airport and a central plaza design that would look like a bitcoin symbol from above.

“If you want bitcoin to spread over the world, we should build some Alexandrias,” he said.

Advertisement

Progress made regarding crypto in El Salvador already

As highlighted already, El Salvador has made some strong advancements in regards to cryptocurrency, with the digital asset having already become a form of legal payment method within the country. This is brilliant for some within the country, as many have turned to virtual currency for a number of purposes including, as well as purchasing other services and products where they possibly can.

Nonetheless, Bukele could face some resistance to his plans to provide El Salvador with the world’s first “Bitcoin City”. There is no doubt that the president is one of the most popular that the nation has had in recent memory, however, the opinion polls would suggest that they are not as popular about crypto as they are about him. According to some that have been produced, many Salvadorans are sceptical about Bukele’s love for crypto and the rocky introduction that was experienced has led to a number of protests against his government.

The plans could be about to get set in motion in the very near future, with the El Salvador president stating that the country plans to issue the initial bonds in 2022 and within 60 days time.

Advertisement

“Financial center of the world”

There is excitement from some about the financial power and impact that the Central American country could have in the future, with the chief strategy officer of blockchain technology provider Blockstream, Samson Mow, revealing that the first 10-year issue, which will be known as the “volcano bond” will be worth $1 billion and backed by bitcoin whilst carrying a coupon of 6.5%.

Following the first five years, El Salvador would then start to sell some of the bitcoin that had been used to find the bond to give its investors an “additional coupon”, thus positioning the value of the crypto to continually rise.

“This is going to make El Salvador the financial centre of the world,” he said.

Advertisement

In order for this to happen, El Salvador’s government is currently working on a securities law, whilst the first licence to operate an exchange would go to Bitfinex, Mow confirmed. The crypto exchange was listed as the book runner for the bond on a presentation that had been made.

Passionate news enthusiast with a flair for words. Our Editorial Team author brings you the latest updates, in-depth analysis, and engaging stories. Stay informed with their well-researched articles.

Viral

Petition Against Cody Roberts Demands Felony Charges For Killing Wolf

Published

on

Cody Roberts has invaded the media headlines as numerous animal rights activists asked for strict actions against him. Cody Roberts is a man hailing from Wyoming, reported Times Now.

After brutally torturing a wolf, he kills the animal as well. This brutal incident took place on February 29 in Daniel. 

Reportedly, Cody hit the wolf with his snowmobile. Later, he took the wolf to his house. Then he shifted the wolf to Green River Bar, a local pub. He shot the wolf fatally at the pub. 

Advertisement

Reportedly, when Cody Roberts was inside the bar, he paraded the innocent animal, clicked pictures of it and then killed him.

A witness told the Colorado Sun that the majority of the people present at the crime spot, the bar, were Roberts’ family and friends. 

The witness said, “People were petting it, taking photos of it, hugging it. I want to be clear: He wasn’t kicking or beating or torturing it. The torture was in not putting it down when he ran it over.”

Advertisement

The individual added, “He was a jokester about it, while it was just sitting there bleeding to death.”

According to The Guardian, in the wake of this incident, the suspect was charged with a nominal fine of $250. 

Petition Against Cody Roberts

An advocate for animal rights, Tessa Branas, has recently launched a petition. She called the authorities and asked them to bring felony charges against Cody Roberts. 

Advertisement

Tessa Branas wrote in the petition, “I am appalled by the horrific act of cruelty inflicted upon a wolf by Cody Roberts of Daniel, Wyoming. Animals have just as much right to feel safe and be spared any unnecessary pain. If it was a person being tortured, the man would be in jail immediately.”

She added in the petition that she called upon Clayton Melinkovich, Sublette County Attorney, and K.C. Lehr, Sublette County Sheriff to charge the suspect with felony charges of torturing and then murdering an innocent animal. 

Tessa Branas added that the petition aims not to deliver justice to just one world but, the entire animal group and that cruelty against them will not be tolerated.

Advertisement

Also Read: Gas leak in Durham leads to complete evacuation near Angier Avenue

Continue Reading

Viral

911 Outage In US: China Cyberattack Hacking Theories Explored

Published

on

911 Outage In US: China Cyberattack Hacking Theories Explored

On Wednesday night, April 17, a major 911 outage affected over nine states. As per the law enforcement agencies, the emergency services were restored after several hours. 

Until now, it was not clear what is the reason behind such downtime or if these are related to some bigger conspiracy theories. Thus, in the wake of this, several theories have come up. 

As per reports by NBC News, a cyberattack might be the reason behind impacting the key US systems. The 911 outage was given a potential China angle by social media users. 

Advertisement

Several reports suggested that Wisconsin, Kentucky, Minnesota, Iowa, South Dakota, Nevada, Nebraska, Florida and Texas were the states which were severely affected by the 911 outage.

911 Outage in The US

The South Dakota Department of Public Safety went to social media and posted that it was aware of the entire state getting interrupted due to 911 service. 

Furthermore, the agency added that sending a text to 911 worked in several locations. 

Advertisement

“The Las Vegas Metropolitan Police Department 911 Communications” stated that the 911 outage affected non-emergency and 911 calls as well. 

The department added that calls from landlines also didn’t work. However, officials could check the numbers from which calls were made. 

The department went to X and tweeted, “Dial on a mobile device, and we will be able to see your number and will call you back right away.”

Advertisement

Even the officials of Nebraska faced a similar problem. In Texas, the Del Rio PD stated, “an outage with a major cellular carrier was to blame.”

ABC News published an analysis which underscored the concerns about the potential effect of this disruption of emergency services, and its connection with the exploitation of sensitive data. 

The publication highlighted that “ransomware attacks have disrupted the networks of police departments and 911 call center operations”.

Advertisement

However, USA Today later reported that the 911 Outage experienced in several states in the US, was due to the installation of light pole.

Also Read: Gas leak in Durham leads to complete evacuation near Angier Avenue

Advertisement
Continue Reading

Viral

Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire 

Published

on

Jeff Bezos Lookalike Cagdas Halicilar Enjoys Lavish Lifestyle By Impersonating The Billionaire 

A 46-year-old German man, Cagdas Halicilar, is currently the talk of the town as he has emerged on the internet as Jeff Bezos’ lookalike. 

Thus, Cagdas Halicilar has transformed his profession into a professional Jeff Bezos doppleganger from an electrician. 

The 46-year-old reveals that now he lives an opulent lifestyle as an entrepreneur. 

Advertisement

Cagdas Halicilar was often told by his family and friends that his looks were similar to those of a billionaire. However, only when he saw Jeff Bezos’ picture, did he understand what people around him meant. 

The New York Post reported that Halicilar dreamed of becoming a successful business executive. With him founding CB Transporte, a transport company, he lived his dream. 

After accepting his resemblance to Jeff Bezos, Cagdas Halicilar enrolled himself at a doppelgänger agency. 

Advertisement

Cagdas Halicilar Gained Popularity by Being Jeff Bezos’ Lookalike

Most of the time, he dressed up in casual attire which made him look more like a billionaire, as Jeff Bezos also dressed up casually. 

Halicilar added, “It doesn’t matter whether I’m wearing a suit or wearing jeans and a polo shirt.”

He added how it requires a bit of effort to maintain his appearance like a billionaire. He shaves his head and applies Nivea cream regularly. The German doppleganger added that he has been doing the same for more than ten years now. 

Advertisement

The 46-year-old has gained a lot of popularity and recognition over the years for his work as Jeff Bezos’s doppelgänger. His spouse complained that people often stopped him and asked for selfies on the street. 

In the “King of Stonks,” the German Netflix miniseries, he also had a guest spot. 

When in Seattle once, Cagdas Halicilar strolled through the Amazon campus. Surprisingly, Amazon employees thought that he was Jeff Bezos, reported TimesNow.

Advertisement

He said,

“All the Amazon employees came to me, wanted selfies and thanked me for being proud to work at Amazon.” 

Furthermore, he added,

“My wish is to drink a whiskey with Jeff Bezos on his yacht. He is just as much of a yacht fanatic as I am.”

Also Read: Twitch Streamer Maya Higa Opens Up About Horrific Stalker Incident During Recent Livestream

Advertisement
Continue Reading

Trending

This will close in 5 seconds