Fast-food giant McDonald’s has officially started accepting Bitcoin payments in El Salvador on September 7. At the same time, the nation became the first country to adopt Bitcoin as a legal means of payment.
Recently, we’ve seen a lot of countries starting to develop a healthy relationship with cryptocurrencies. There have been plenty of rumors suggesting that the following country to accept BTC will be Paraguay. The country’s lawmakers are creating a bid to implement the necessary legislation to make Paraguay the new “El Salvador”.
Although the law stipulates that businesses, whether large or small, must accept Bitcoin, many people were skeptical that large businesses would integrate payment solutions like Bitcoin until the regulation came into force.
Various personalities have already bought burgers using BTC Bitcoin at McDonald’s
To the surprise of many cryptocurrency fans, McDonald’s in El Salvador can and does already accept Bitcoin payments. The company has managed to integrate OpenNode payments into its services, which means that anyone can buy products from a McDonald’s in El Salvador using the OpenNode network by scanning a paper receipt with a QR code on the phone and thus paying with Bitcoin.
Aaron van Wirdum is a Technical Editor at Bitcoin Magazine. His Twitter account seems to be gaining lots of momentum with the things going on with El Salvador and the cryptocurrency scene in general. The Dutch Technical Editor tweeted that he could successfully pay for “his breakfast” using BTC, just by scanning a QR code.
Collaboration with OpenNode
Julie Landrum, Head of Growth at OpenNode, made the following statement:
“We are incredibly excited to work with McDonald’s to help make adoption of the country’s Bitcoin Law an operational success,” Julie Landrum, OpenNode’s head of growth, said in a statement. “It’s just a massive opportunity to demonstrate the power of [our] Lightning Network for daily high volume, low-value purchases at the most popular and successful fast-food chain in the world. Another significant milestone on the path to growing the bitcoin economy.”
The partnership between OpenNode and McDonald’s has led to a quick payment solution. However, due to high demand, downloading the native Chivo de Bitcoin app from El Salvador is not currently available – but this is undoubtedly something that will be fixed in a matter of days. Every El Salvadorian in the country now has or will soon have access to $30 in Bitcoin provided by Chivo. This, once again, goes to show even more how much El Salvador is trying to support both its economy and the cryptocurrency scene.
At this point, it is unknown whether other giant US corporations operating in El Salvador will begin to implement Bitcoin payments, but this remains to be seen – most likely, though, they will follow Mc Donald’s and join the cryptocurrency community in no time. There have been rumors about big companies operating in Salvador planning to implement Bitcoin payments in their systems, but this remains a mystery for now.