El Salvador Seeks to Overcome Flaws in Its Chivo Bitcoin Wallet — DailyCoin
- In view of the repeated complaints and criticism, the government has contracted the services of an American company to try to correct the flaws.
- Problems with the Chivo Wallet range from failed transactions, to missing funds.
- A mayor’s office in El Salvador will start collecting taxes in BTC.
The government of El Salvador is seeking to solve the serious technical flaws of the Chivo Wallet. Since the installation of Bitcoin as legal tender in the country, the states smartphone application for Bitcoin has experienced an array of technical problems.
Users have reported phishing, download failures, and even the disappearance of funds. In an attempt to try and correct these flaws in the digital wallet, the Salvadoran government has contracted the technological support services of American company ‘ Alphapoint.’
The Chivo Wallet was an initiative to “provide millions of Salvadorans the opportunity to learn about the advantages of using bitcoin, access financial services, pay for goods and services, as well as the possibility of receiving and sending remittances without charging commissions,” the bulletin explained.
- Hundreds of complaints have been made about the operations of the digital wallet.
- Adding to the woes of those facing operational failures are the losses incurred by BTC investors due to the recent bear market.
In addition to Alphapoint, which provides asset trading, brokerage and tokenization services, El Salvador is being assisted by the Athena Bitcoin company which originally developed the Chivo Wallet and manufactures BTC ATMs.
It is unclear whether the Salvadoran government will retain Athena’s services or not. The company was in charge of developing the salary payment project in BTC Vanguard 1, for the workers who prefer it. The software allows the automatic exchange of dollars to BTC.
"Ilopango, welcome to the future. Now you can make your payments with the @ChivoWallet without paying fines or commissions. The taxes you pay are the work that we need."
The mayor has not offered any precise details regarding the BTC tax payment program.