El Salvador’s Chivo digital wallet has largely failed as a digital wallet for cryptocurrency, but it just might succeed as a dollar debit app for unbanked citizens.
So says US based think-tank The National Bureau of Economic Research (NBER). It calculated that just 20% citizens continued to use the country’s Chivo digital wallet after receiving their sign-up bonus of $30 in bitcoin. And just 9% have used it for bitcoin transactions.
