The Cultural Political Economy of Bitcoin in the Global South (BITELSA)
Social structure, usage practices and imaginaries of the Bitcoin adoption in El Salvador
BITELSA is a two and a half year research project funded by the Anniversary Fund of the Austrian National Bank (OeNB). The project is led by Dr. Tobias Boos and investigates the economic, political and social implications of the introduction of bitcoin as legal tender in El Salvador. Combining perspectives and methods from international political economy, political science, political sociology and digital anthropology, it examines the case in the context of a "crypto roll-out in the Global South" as well as recent geopolitical developments and shifts in the global economy
Bitcoin (BTC) became legal tender in El Salvador on September 7, 2021. El Salvador is the first country in the world where BTC holds the rank of legal tender. The BTC adoption is part of a development narrative in which people in the Global South are the beneficiaries of new technologies. However, the impact of the current "crypto roll-out in the Global South" has been virtually unexplored. This research project examines the impact of the role out of BTC in El Salvador. Drawing on the Cultural Political Economy approach, the research project examines the political economy context of the implementation of the BTC law; the relationship between social structure and the characteristics of BTC transactions and use practices in El Salvador; and how imaginaries around BTC connect with local and regional populist narratives.
Result Presentation of the Research Project: Bitcoin as Legal Tender: El Salvador’s Crypto Experiment Revisited
19.October 2026; 14:30 - 18:00; Conference room, Department of Political Science, Universitätsstraße 7, 2nd floor
On September 7, 2021, El Salvador became the first country in the world to make Bitcoin legal tender. Over the past three years, the research project "The Cultural Political Economy of Bitcoin in the Global South" (BITELSA) has investigated Bitcoin adoption in the Central American country, examining the political economy, infrastructure, and politics surrounding the Salvadoran crypto experiment. The event will present the project's results, situate them within a broader context, and discuss future research avenues.
Program
14:30 - 14:45 Welcome and intro (Tobias Boos)
14:45 - 16:15 Presentation of project results
The Cultural Political Economy of Bitcoin in El Salvador: Soft Adoption, Infrastructural Paradox, and Crypto-Populism - Juan Grigera, Tobias Boos, Lina Schmid
Comment from Carla Coburger (University Duisburg-Essen): Moving from El Salvador to broader perspectives on current crypto developments
16:30-18:00 Panel discussion:
Where is Crypto and Digital Finance Heading? Global Trends and Research Perspectives
Ia Eradze (Ilia State University/Georgian Institute for Public Affairs), Chris Muellerleile (Swansea University), Sebastian Heidebrecht (University of Vienna), Tobias Boos (University of Vienna)