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El Salvador To Build Ocean Side Bitcoin City

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IMF Wants El Salvador To Stop Use Of Bitcoin

El Salvador President Nayib Bukele has announced that his government will build an ocean side ‘Bitcoin City’ at the base of the Conchagua volcano, according to the Voice of America .

Making this announcement at a Latin America bitcoin and blockchain conference held at the weekend, Mr Bukele stated that a bond offering would be held in 2022 to raise funds for the city’s construction.

Revealing that the bond offering would be made strictly with bitcoin, Mr Bukele added that the city’s construction would commence 60 days after funds had been raised.

The bitcoin city, which is to be situated near the Conchagua volcano, will take advantage of geothermal energy to power both the city and Bitcoin mining.

The oceanside Conchagua volcano sits in southeastern El Salvador on the Gulf of Fonseca.

Mr Bukele also mentioned that his government would make provision of land and infrastructure to attract investors.

He explained that the only tax collected in the city would be the value-added tax used to pay the municipal bonds and build and maintain infrastructures in the city.

He further disclosed that there would be no property, income or municipal taxes, adding that the city would have zero-carbon emissions.

READ ALSO: El Salvador To Make Bitcoin Legal Tender

The president further explained that the project would attract investors, adding that the city would have residential areas, malls, restaurants and a port, and sustainable public transport.

In September, El Salvador made history as the first country to make Bitcoin an official legal tender. The country installed bitcoin ATMs to enable citizens to convert cryptocurrency into dollars and withdraw it in cash.

Although the Central American country believes that the measure will boost its economy, many of the 6.5 million population who have little or no knowledge of how cryptocurrency works had kicked against it since it was announced, while others embraced it.

 

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Health

HIV/AIDS: 6.3 Million Lives On The Line If – UN

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By John Michael Ojo

The United Nations (UN), has warned that more than six million people could die if the United State ends it’s foreign aid programs.

This was made known by UNAIDS Deputy Executive Director Christine Stegling said during a UN briefing in Geneva on Friday.

According to her, “There is still a lot of confusion… about how the waiver will be implemented, and we’re seeing a lot of disruption of the delivery of treatment services.”

Regarding the freeze’s impact, Stegling said 20 million of the world’s 30 million HIV-positive people rely on US aid for treatment.

READ ALSO: Researchers Near Cure For HIV

Noting that the HIV global response is heavily dependent on funds from the US President’s Emergency Plan for AIDS Relief (PEPFAR) as it finances 70% of the overall AIDS response.

“We estimate that if PEPFAR wasn’t reauthorized between 2025 and 2029 and other resources were not found for the HIV response, there would be a 400% increase in AIDS deaths.

“That’s 6.3 million people, 6.3 million AIDS-related deaths that will occur in the future,” she warned.

With the funding freeze, the biggest interruption will be on community health systems, she said, giving the example of Ethiopia, where UNAIDS had 5,000 public health worker contracts that are funded by US assistance.

“All of these in all regions of Ethiopia have been terminated,” she added.

 

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Bill Gates Recounts Worst Mistake

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Bill Gates Drops On Billionaire Ranking After Stock Transfer To Ex-wife

By John Michael

Erstwhile word’s richest person and founder of Microsoft, Bill Gates, has revealed that his divorce of his wife, Melinda, remains his most regrettable action.

Gates who revealed this in a recent interview with The Times published on Saturday, added that the separation left him and Melinda miserable.

While answering questions bordering on his marriage, the 69-year-old entrepreneur said: “I’m more cheerful now, the mistake I most regret.”

“There are others, but none that matter.

READ ALSO: Melinda Gates Now A Billionaire After Stock Transfer From Bill Gates

“The divorce thing was miserable for me and Melinda for at least two years.

“Melinda and I still spend time together as a family. We have three children and two grandchildren, so there are always family events.

“The kids are doing well and have strong values.”

The former couple, who share Jennifer (28), Rory (25), and Phoebe (22), in a joint statement in 2021, announced an end to their 27 years marriage as a result of irreconcilable differences.

READ ALSO: Bloomberg Removes Bill Gates From Billionaire List After Divorce

The duo has also moved on with Gates now dating Paula Hurd, the widow of former Oracle CEO Mark Hurd.

 

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World

BREAKING: Former US President, Jimmy Carter Is Dead

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By John Michael Ojo

The longest-lived president in United States of America, Jimmy Carter, is dead.
This was made known in a statement by the Carter Center and signed by his son Chip Carter on Sunday.

It reads, “My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love,” said Chip Carter, the former president’s son.

“My brothers, sister, and I shared him with the rest of the world through these common beliefs. The world is our family because of the way he brought people together, and we thank you for honoring his memory by continuing to live these shared beliefs.”

READ ALSO: How I Escaped Israel’s Air Strikes – WHO DG

President Carter is survived by his children — Jack, Chip, Jeff, and Amy; 11 grandchildren; and 14 grea-grandchildren. He was preceded in death by his beloved wife, Rosalynn, and one grandchild.

Jimmy Carter who was the 39th president of the United States and a recipient of the 2002 Nobel Peace Prize, died peacefully at his home in Plains, Georgia, in the company of his family. He was 100,

 

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