Airline Will accept payments with cryptocurrencies.

 

And this decision from the government is only the beginning.

On Tuesday, the president of El Salvador, Najib Boukele, announced that the low-cost carrier Volaris would soon accept payments in Bitcoin.

"This will allow us to increase the supply of flights to Salvadoran." At the same time, the company will become "the first in the world to accept (payments in) Bitcoin and of course the (digital) Chivo wallet," Mr. Boukele noted, commenting through the Twitter event of the company that took place during the video conference.

Some other carriers, such as Mexico's TAR Airlines, have also announced that they will accept Bitcoin payments.

Chivo is the digital wallet created last month by the Salvador government in recognition of Bitcoin as the country's official currency, in addition to the dollar.

The Mexican-based airline Volaris has said it is preparing to give its customers in El Salvador the ability to pay with digital currency.

In August 2021, El Salvador's civil aviation authority announced that it had authorized a Volaris subsidiary to launch flights.

Mr. Boukele's government has vindicated the recognition of Bitcoin, saying it could reduce the cost of transferring money to the country from the three million immigrants abroad, 2.5 million of whom live in the United States. Remittances account for 22% of Salvador's gross domestic product.

However, the International Monetary Fund, the World Bank, and the Inter-American Development Bank have expressed skepticism and warned San Salvador that the project poses some risks.

Question.

No large company or government can ignore that billions are stored in wallets that can be exploited directly by offering cryptocurrency payments.

How will the governments of major international currencies directly linked to these states' power react?

Will we ever see the replacement of the Dollar or the Euro with absolutely digital international currencies?

The present is ahead of us, and the future still needs to be clarified on cryptocurrencies.

This article is for informational purposes only and does not replace specialized consulting services with professional experts.