In just a matter of days, the company will have its prototype built in Salvadoran territory. The company is already joining efforts with a team of 175 people, and they estimate that they will soon hire locals.
The manufacturer of bitcoin ATMs, ChainBytes, reported on June 30 that it moved its main production center to El Salvador. In 10 days, the company will have the prototype made entirely on Salvadoran soil, and, from there, its efforts will aim at achieving productivity of at least 50 machines a day or 1,500 a month.
The company has forged a new team of about 175 people in El Salvador, but that number would increase soon as ATM production and demand grow.
He added that, since 2012, the company has been manufacturing and offering maintenance services for operators and companies focused on the bitcoin ATM business. ChainBytes has its main offices in the State of Pennsylvania, in the United States of America.
In addition, the company owned a production center in China that it had to dismantle recently due to the crackdown on cryptocurrencies in that nation. Now, the company has migrated its whole production center to El Salvador.
The company’s initiative received the support of Mónica Taher, who was in charge of International Economic and Technological Affairs at the Secretary of Commerce of El Salvador. After the meeting she held with a faction of the team, the official highlighted the manufacturer’s interest in establishing itself in the Central American country, providing investment and generating more jobs.
And despite the short time ChainBytes has had in El Salvador, they are already looking for support operators, so there is a possibility of new job opportunities in the future. Many bitcoin ATM operators are interested in installing new equipment in different parts of the country.
El Salvador Will Compete with Canada if it Installs 1,500 Bitcoin ATMs
El Salvador plans to turn this country into the second nation with the most bitcoin ATMs in the world since the Government of Nayib Bukele intends to install at least 1,500 equipment throughout its territory. The initial plan of the ATM operator, Athena Bitcoin, is to place a device in each of the 14 departments of El Salvador, for which it calculates to invest more than 1 million dollars.
El Salvador would be a match for Canada, which currently has 1,379 ATMs. The United States of America is the only nation that outshines this figure. There are more than 16,000 devices in the North American country.
But to get the Bitcoin Law to action, the nation will also have to conquer technological barriers that can get in the way of the generalization and the use and adoption of crypto assets as legal currency by Salvadorans.
By: Jenson Nuñez
