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moncho

El Salvador: A dollarized economy that needs to learn to surf the Internet Of Value

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Posted (edited)

I like your blog. You sound like a very intelligent person who truly loves your country of origin, and wishes for it and the people to succeed amidst great challenges in recent history. As a U.S. citizen I love seeing people like you take steps to make it happen. May God be with you! Is it possible for you to move back? A guy like you should run for office and make those regulations happen. 

Edited by VanGogh

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Posted (edited)

Maybe the answer for El Salvador is to just transfer US dollars into XRP and not transfer back to US dollars. Just pay each other with XRP. Get rid of US dollars.

Don't forget that a US dollar is just a piece of '(un)trusted value'. Nothing more. If XRP becomes that piece of 'trusted value' you don't need US dollars at all.

At this point in time it would be very smart for the El Salvador government to start making that switch to XRP. They would become the first government to use XRP for it's local currency. It could make El Salvador and it's population one of the richest countries in the world. I expect that to be very near the truth in years to come.

As you can sms/text XRP to XRP account holders even the most basic telephones can be used for payments. See Wytse Wind payment & tipbot solution for starters.

Just my 2 cents.

Edited by cryptoxrp

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15 hours ago, VanGogh said:

I like your blog. You sound like a very intelligent person who truly loves your country of origin, and wishes for it and the people to succeed amidst great challenges in recent history. As a U.S. citizen I love seeing people like you take steps to make it happen. May God be with you! Is it possible for you to move back? A guy like you should run for office and make those regulations happen. 

Thank you very much for your kind comments!

For now it's not the plan to move back, but you have motivated me to take action and get in touch with good people that can help drive this change. Thank you for this!

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6 hours ago, cryptoxrp said:

Maybe the answer for El Salvador is to just transfer US dollars into XRP and not transfer back to US dollars. Just pay each other with XRP. Get rid of US dollars.

Don't forget that a US dollar is just a piece of '(un)trusted value'. Nothing more. If XRP becomes that piece of 'trusted value' you don't need US dollars at all.

At this point in time it would be very smart for the El Salvador government to start making that switch to XRP. They would become the first government to use XRP for it's local currency. It could make El Salvador and it's population one of the richest countries in the world. I expect that to be very near the truth in years to come.

As you can sms/text XRP to XRP account holders even the most basic telephones can be used for payments. See Wytse Wind payment & tipbot solution for starters.

Just my 2 cents.

That would be a perfect scenario. It's a country that has plenty of conditions to implement XRP as its digital currency.

And you make a great point because in El Salvador there are about 1.4 mobile phone connections per every one person. In fact, this should have gone into my blog post, I completely missed to mention the possibility of sending XRP via SMS, thanks for pointing it out.

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25 minutes ago, moncho said:

Thank you very much for your kind comments!

For now it's not the plan to move back, but you have motivated me to take action and get in touch with good people that can help drive this change. Thank you for this!

You represent the best there is. The world needs more people like you.  

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19 hours ago, moncho said:

Thank you very much for your kind comments!

For now it's not the plan to move back, but you have motivated me to take action and get in touch with good people that can help drive this change. Thank you for this!

@moncho If I can somehow assist you with your efforts, let me know. I have an email contact with Wietse Wind and have some creative thoughts on making a ver simple multi langual XRP payment app based on sms/txt XRP.

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Posted (edited)

This is an excellent use case analysis Moncho.  Have you thought of contacting Ripple for advice about how best to encourage a corridor to be developed into EL Salvador.  I imagine for a small country like this, one good well informed person with local knowledge and a strong incentive could really carve a position out for themselves getting something like this set up in their country.  

Edited by Julian_Williams

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4 hours ago, Julian_Williams said:

This is an excellent use case analysis Moncho.  Have you thought of contacting Ripple for advice about how best to encourage a corridor to be developed into EL Salvador.  I imagine for a small country like this, one good well informed person with local knowledge and a strong incentive could really carve a position out for themselves getting something like this set up in their country.  

Thanks Julian! I haven't considered contacting Ripple, although I was offered support from very knowledgeable members of the community once they learned about my plans of reaching out to some people that can drive this change in the country (which I did, but haven't heard back from them so far).

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2 hours ago, moncho said:

Thanks Julian! I haven't considered contacting Ripple, although I was offered support from very knowledgeable members of the community once they learned about my plans of reaching out to some people that can drive this change in the country (which I did, but haven't heard back from them so far).

To achieve something you have to start.  Making a start makes things happen.

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Posted (edited)
1 hour ago, Roaring_Twenties said:

I think they’d love to speak with you @moncho. It’s simple to at least ask.

https://ripple.com/contact/#sales

and Mercury is another company worth discussing this with.  They did open up Mexico and have said they want more corridors.

One dedicated person with both local and tech knowledge could stir things up

I do recomend that anyone who has not read Moncho's blogs should read it.

Edited by Julian_Williams

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