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HONDURAS LAUNCHES BITCOIN VALLEY AND WANTS TO BECOME A TOURIST HOTSPOT!

 


​Hope for Bitcoin Valley

The Bitcoin Valley program was created by the Municipality of Santa Lucia (Honduras) in cooperation with the Technological University of Honduras, Blockchain Honduras and the cryptocurrency exchange Coincaex . Bitcoin adoption continues to advance.


While Blockchain Honduras offers training on how to use crypto wallets , among other things , Coincaex provides the programs and services required to make payments in cryptocurrencies.


After taking a heavy hit with the outbreak of COVID-19, local businessmen are finally hoping that Bitcoin Valley will boost tourism spending in the tropical coastal nation. Honduras recorded annual tourism spending of around US$556 million in 2019, before falling more than 66 percent to US$189 million in 2020, according to data from Macrotrends, a global economy tracker.


Some Santa Lucia residents, such as shopping center owner Cesar Andino, also have very high expectations that the initiative will open up more opportunities & new avenues for doing business in the area and "attract more people who want to use this currency", according to a report by the Honduran news agency La Prensa.


Andino added:


Bitcoin acceptance will allow us to open another market and attract more customers. We have to globalize. We cannot shut ourselves off from technology, and we cannot lag behind when other countries are already doing so


The small country in Central America is thus laying the foundation for a future with new paths, thanks to Bitcoin. 


Carlos Leonardo Paguada, the founder of Blockchain Honduras and at the same time a representative of the Central American Association of Cryptocurrency Users (Acupcrip), recently told the Honduran press La Prensa that it is estimated that up to 60 companies will start the project.


These companies will then receive intensive training from the Decentral Academy on how to safely use Bitcoin and also blockchain technology.


As reported by La Prensa, traders are expected to receive Coincaex’s dedicated cryptocurrency outlets as early as this week or next.


With the launch of such new initiatives, Honduras joins a small group of regional states that will allow their citizens to use cryptocurrencies to officially pay for goods and services.

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