Darvin Otero, CEO of Tiankii Pay, was the guest of the week on the Swan Bitcoin podcast to share from his point of view Salvadorans with the incorporation of bitcoin in their monetary system.
Swan Bitcoin is a space presented by Camila Campton and Javier Bastardo. It is created to share content 100% in Spanish to promote the benefits of bitcoin and inform the latest news of the ecosystem of digital currencies.
In the first section of the episode, Otero shared that he is working as product director for Tiankii Pay, a payment gateway with direct integration with Chivo Wallet. The objective of this platform is to improve and facilitate bitcoin payments throughout El Salvador.
A Closer Look at Salvadoran Bitconization
Darvin had the opportunity to talk more about Tiankii Pay, a gateway that can provide all companies with the tools to accept bitcoin in all their sales channels (physical establishments, e-commerce, billing systems, among others). Tiankii Pay provides the opportunity for merchants to choose how they receive payments.
Finally, one of the presenters asked how BTC links can be created throughout LATAM. In response, Otero believes that promoting content in Spanish about Bitcoin is a form of support. Also, it helps to teach and show all the benefits that bitcoin offers.
ATMs Chivo Wallet
Darvin says that Salvadorans are making the most of Chivo Wallet ATMs. He tells us that there is a high flow of people using them and they are always full. There are many business owners, entrepreneurs and people who use these ATMs to withdraw their assets more easily. However, the most experienced citizens use the Chivo Wallet to carry out various operations.
First impressions of the Bitcoin Law
In the first days, when this new law was announced, there was fear among the population. Also, the Chivo Wallet app was buggy. But, when the law went into effect and merchants saw the arrival of bitcoin as an opportunity, adoption was more flexible, so transactions are increasing week after week.
According to Darvin, for this adoption of bitcoin to be faster there must be a certain legal enforceability, since the use of this currency is optional.
One of his ATM experiences deducted the money from his BTC account, but he did not receive the money. So, he filed a complaint and technical support contacted him beforehand, indicating a code that allowed him to withdraw the money without any problem.
Accepting bitcoin is progressive
Accepting bitcoin is progressive
An advantage of this currency is that merchants can download the Chivo Wallet to receive bitcoin payments, and they are instantly converted to dollars. And this is a positive point, since there is less fear.
He notes that every day people begin to accept bitcoin organically, because it is seen as a new tool that can be useful for payments and money transfers. The Salvadoran government has been promoting bitcoin, so there is better progress.
Because Otero works with Tiankii, he has a data set that shows bitcoin purchases and transactions are growing. He comments that Salvadorans pay with BTC at gas stations, they get a discount.
"We are part of the history of money" - Darvin Otero, CEO of Norttech Labs & Tiankii Pay
A relevant fact is that a person can only buy $1,000 dollars in bitcoin in one day. There are certain limits established by the Central Reserve Bank to protect the money invested by the state.
Tiankii Pay is freedom
Darvin had the opportunity to talk more about Tiankii Pay, a gateway that can provide all companies with the tools to capture bitcoin in all their sales channels (physical establishments, e-commerce, billing systems, among others). Tiankii Pay provides the opportunity for merchants to choose how they will receive payments.
“Tiankii in Mayan means an open-air market”
Finally, a presenter asked: how can BTC links be created throughout Latin America? Otero's response was that promoting content in Spanish about Bitcoin is a way of supporting and also helps to teach and show all the benefits of bitcoin.