Honduras has long had a particular interest in bitcoin (BTC) ever since El Salvador adopted the currency. Seduced by the example of this country, the authorities of Honduras began the official launch of the “Bitcoin Valley”. It is a Bitcoin-friendly area located in the tourist enclave of Santa Lucia.
Purpose of Bitcoin Valley
Honduras wants to be among the most famous countries when it comes to using the king of cryptocurrencies. According to a report by Bitcoin Magazine, the authorities of this country have formalized the launch of “Bitcoin Valley”. In this zone, anyone can make a trade using BTC.
For example, Cesar Andino, who runs an outlet in the area, notes that “people can buy ice cream with cryptocurrencies on the streets of Bitcoin Valley.” He also states the purpose of this initiative: “It will open up more opportunities and attract more people who want to use this currency.”
An initiative to expand
It should be noted that, to begin with, Bitcoin Valley will focus mainly on sixty businesses. It may expand later, over time. We owe the existence of this initiative to the Blockchain Honduras organization, the Technological University of Honduras, the Coincaex crypto exchange consortium and the municipality of Santa Lucia.
Obviously, Latin American countries are thinking outside the box and are constantly innovating to create new initiatives that benefit cryptocurrencies. After El Salvador, it was Honduras’ turn to join the ranks of the Bitcoin Nations, despite opposition from its central bank. Which country will be next on the list?
Honduras is innovating by creating a “Bitcoin Valley”, an area where locals and tourists can transact using cryptocurrencies, including bitcoin (BTC). This is the first time such an initiative has been implemented in the country, and it is expected that it will spread to other regions. Obviously, cryptocurrencies are gaining popularity.
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Luke Jose Ajinaku
The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.