El Zonte Aims to Be the First “Bitcoin Village”

The town of El Zonte in El Salvador is one of the first to resort entirely to bitcoin to keep its economy and infrastructure stable. Following several attempts to remember his password, the donor ultimately gained access to the wallet and partnered with a San Diego native named Michael Peterson to shell out annual, six-figure donations to the El Salvador town that he’d grown to love over the years.

At the time of writing, bitcoin in the area is being put towards the development of youth work programs, educational grants, transportation, utilities, and food for local families. He’s been involved in youth philanthropy for some time and is working to enhance all the training efforts of the Bitcoin Beach initiative.

Timeline of Bitcoin