Crypto

Honduras innovates with its Bitcoin Valley

Honduras has been interested in bitcoin (BTC) ever since El Salvador started using the currency. Honduras has opened a bitcoin valley in Santa Lucia, the country’s tourist area. This is a place that promotes bitcoin and the authorities behind its creation hope it will help boost the country’s tourism sector.

Attract tourists by accelerating adoption

The Honduran government wants bitcoin to become one of the most important currencies in its country. According to a tweet from Bitcoin Magazine, the authorities have opened a bitcoin valley in Honduras. This area can be used by anyone for transactions using bitcoin as the main currency.

Bitcoin and the entire cryptocurrency market is no exception in the sense that development and adoption are always followed by enforcement. The rule is simple and accepted by the experts themselves.

Even when the markets are down, Bitcoin and other cryptocurrencies continue to be accepted at a high rate. Some initiatives claim that Bitcoin can be used as a means of payment on its own, without being formally recognized as a currency by any regulatory body. They don’t worry about this fact, instead focusing on using bitcoin as much as possible.

There are many different opinions about how to behave in the next evolution of money; some countries do not want their currencies to be dominated by the dollar, while other companies fear that they will not be able to join the next phase of monetary evolution.

Bitcoin Beach in El Salvador and Santa Lucia in Honduras have launched small local initiatives. It is more about the transition to a circular economy mode than about serious and global changes.

Cesar Andino is a business center manager in the Bitcoin Valley area. He explains that people can buy ice cream with their cryptocurrencies on the streets of Bitcoin Valley. This, he said, will give people more opportunities to use their currency and attract more people to the region.

Latin America: advancing implementation?

Cesar Andino explains that Bitcoin Valley will become an international attraction for Bitcoin holders. The main goal of the project, according to Andino, is to provide more opportunities and attract more people who want to use the bitcoin currency.

As part of the project, about 60 local businesses will be trained on how to sell their products and services with cryptocurrencies and install payment terminals that can accept Bitcoin payments.

The Bitcoin Zone was developed by Blockchain Honduras, the Guatemalan crypto exchange consortium Coincaex, the Technological University of Honduras, and the Municipality of Santa Lucia. According to the organizers, there will initially be about sixty companies in the area.

Latin American countries are pushing the boundaries with their creative ideas to bring about positive change for cryptocurrencies. After El Salvador, Honduras also decided to leave the ranks of countries opposed to the central bank and become a Bitcoin-friendly country.

Leonardo Paguada, founder of Blockchain Honduras, has announced that in this bitcoin valley, all bitcoin payments will be converted to local currency immediately.

Indeed, he says that the risks of fluctuating BTC currency will be eliminated in this way, and business owners will not even receive bitcoin per se. This will mean the effective adoption of Bitcoin as a currency.

Bitcoins are becoming more and more popular and Honduras is innovating by creating a bitcoin valley in their country. This area is for locals and tourists who can use cryptocurrencies, including Bitcoin (BTC) and other coins. This is the first time that Honduras has launched such an innovation, and it is hoped that it will spread to other parts of the country.

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