In addition, the company, which advises managers on the issuance of securities, has offered to connect the country to its satellite network and maintain its synchronization with the Bitcoin network.
The Naib Bukhale government plans to issue Salvador bonds for the Bitcoin mine, according to a company official who specializes in cryptocurrencies, Coindesk.com, a company official who advises management on the matter.
An important component of the development of bitcoin in El Salvador will be the bond offerings we propose. It looks like they can do it quickly, ”said Samson Move, chief strategist at Blackstream, a company that advises El Salvador on the issuance of these bonds.
In an interview with Coindes, he said that this would be done by Blackstream Financial, a new corporate division working to build “some possible bond offers” on the liquid network, a bitcoin scaling system backed by Blackstream.
Move notes that negotiations are taking place at a “high level”, although they are still “in the early stages”.
According to the special site, Blackstream, a company that specializes in bitcoin infrastructure, explains that the bonds to be launched by the government of Salvador will be driven to finance the bitcoin mine with volcanic energy.
“Buccal wants El Salvador to become a bitcoin mining hub, tap into its rich geothermal resources, become a hub for blockchain software development and a haven for crypto-rich,” the site’s note said.
Another agreement between the Buckell management with that company, according to Kondeskin, is that the country can connect to its satellite network and maintain its synchronization with the Bitcoin network in the dark or internet drop cases.
In this sense, the release points out that on June 5 the company promised to merge El Salvador with its Blackstream satellite project.
Mow reveals to CoinDesk that “the company has sent two satellites to the country” and that “early stage” but “high level” conversations are taking place around the “volcanic mine” (or mine geothermal energy).
In addition, Move points out that “bonds may float to finance the state’s mining activities, which will use the currently trapped geothermal energy.”
Buckley and some of his officials, including Finance Minister Alejandro Zelaya, have offered to report on the Bitcoin Act (approved on June 9) in the national media and in the President, but no one has explained the details.