Tech Revolutions Take Time: El Salvador’s Bitcoin Experiment Revealed the Weak Points

This summer, El Salvador’s President expressed disappointment over the reluctance of the population to use Bitcoin. Most people continued to resist using Bitcoin despite favorable conditions created by the government.  Now, the results of a recent poll appeared, which revealed that a staggering 92% of the country’s citizens have never used Bitcoin. 

It's worth saying that the population supports their President. After all, the shift to Bitcoin has alleviated IMF debts, improved the country’s global image, attracted international attention, and boosted tourism. Citizens recognize these positive changes and see the benefits of the policy, yet most still prefer to stick to their traditional ways.

This is an intriguing case study for other nations, which consider similar strategies.

So, what could prompt people to change if even the potential for higher profit hasn't been enough? I believe the key is education. 

We see how all technological innovations historically meet resistance, so slow adoption is a natural element of any tech revolution. But to make Bitcoin mainstream, we should focus on the need for education. It will help to overcome fear, confusion, and the skepticism that often surrounds digital currencies. This is a sure way to build trust in the technology within the population.

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