Known for breaking ground by accepting Bitcoin (BTC) as the official currency two years ago, El Salvador is now preparing to take another step in its technological journey by establishing a strategic partnership with Google Cloud. The Latin American country signed an agreement with Google Cloud, a renowned unit specializing in data storage, analytics and machine learning services. This collaboration, which is expected to receive parliamentary approval, is set to support El Salvador’s digital transformation in various sectors, including government operations, health and education. Here are the details…
Huge deal from Bitcoin country
El Salvador’s President Nayib Bukele hinted at an impending surprise with his latest tweet, which further fueled the anticipation among cryptocurrency enthusiasts and investors. Speculation began to swirl around the potential announcement of startups such as volcanic bonds or cryptocurrency mining. On August 29, Google Cloud officially announced its partnership with the government of El Salvador, announcing its plans to establish a local office in the country and offer Google Distributed Cloud (GDC) services. The main purpose of this collaboration is to initiate digital developments, facilitate government functions and develop essential services such as health and education. The GDC infrastructure is expected to facilitate data management closer to source in El Salvador.
Google plans to establish operations in El Salvador 😉🇸🇻
Official press release from @Google:https://t.co/Fm1i3YizNr
— Nayib Bukele (@nayibbukele) August 29, 2023
Visionary President Nayib Bukele expressed his confidence in El Salvador’s development as a technology hub. Emphasizing the importance of technology and foreign investments in the progress of the country, Bukele stated that these are effective in the development of the country. Bukele’s social media post, accompanied by a smiley face emoji, emphasized the importance and excitement of the partnership. This partnership will span seven years after full approval by the legislature. It aims to accelerate the digitization of various government projects and processes, including invoicing and permits. Google Cloud’s entry into El Salvador marks an important milestone as the first Latin American government to adopt cloud technology.
Google Cloud made a statement
Google Cloud CEO Thomas Kurian expressed his belief in the transformative power of cloud computing for Latin America. He noted that access to cloud computing has greatly increased, enabling both small businesses and the public sector to enjoy the same applications and services as more established markets. The further expansion of Google Cloud has garnered attention from various quarters, prompting questions about the company’s plans for the new venture.
The impact of the partnership extends beyond technological advances. It coincides with El Salvador’s proactive stance on adopting Bitcoin and integrating it into social systems. Additional infrastructure will play a crucial role in supporting Bitcoin full nodes with Ordinal Protocol support. El Salvador’s commitment to cryptocurrency is evident in recent developments such as the licensing of cryptocurrency exchange Binance to provide services to its citizens. Since 2021, Bitcoin has legal tender status in the country.
