Does not seem to be that much of a success:
https://www.washingtonpost.com/world/2022/01/26/el-salvador-bitcoin-dip-crypto-crash/
And that not only because of the bad luck of falling value of Bitcoin, but also because of: “But, as Fortune’s Shawn Tully reported, Salvadorans found that accessing remittances in bitcoin ‘is shockingly costly — on both ends of the transaction.’ Crypto exchanges charge the sender commissions of 2 to 4 percent for changing dollars for bitcoin. When deposits digitally land in a Chivo wallet, Salvadorans — many of whom don’t want to hold bitcoin — end up going to an ATM, where they can convert withdrawals to dollars. The ATM provider takes another 5 percent cut. In total, fees can run between 7 and 9.5 percent, and potentially higher.”
And that would totally crumble the plan of having this as a better alternative to MoneyGram.
We are far from having cryptocurrencies as a sensible legal tender. And therefore it’s also not a “missed opportunity”.
I also do not know if ADA should serve as the legal tender. I had a discussion in another thread some time ago, where my question was: If a billion people use ADA, their average wealth will be at most 45 ADA. Even with my limited ADA holdings, I would be obscenely rich in such a scenario, the people getting in early enough (or being rich enough in fiat or Bitcoin or all of it), will be even richer.
One very reasonable answer was:
So, it might very well be that the successful way will not be making ADA the legal currency, but just minting the legal currency of a country on a Cardano sidechain (or on another blockchain).
It’s all much too unclear to do it just now. Being able to send cryptocurrencies to arbitrary people in need around the world will stay a dream for quite some time.