Bitcoin Valley – A town in Honduras accepts payments in BTC

Initiatives to insert Bitcoin as a means of payment are multiplying all over the world. This whether it is a question of entire countries, like El Salvador, or of multinationals wishing not to miss this bandwagon. With sometimes very different ambitions, but a common approach: to accept BTC as a currency in its own right. A heresy for regulatory authorities and other central banks, in the process of building barricades to block its development. But that’s not stopping the small tourist town of Santa Lucia, Honduras from becoming the first national crypto hub with the launch of “Bitcoin Valley”.

The rule is simple and recognized by the experts themselves: the regulation of an innovation always lags behind the development and adoption of the latter. A fact to which Bitcoin does not escape, as does the entire cryptocurrency market. With ever-increasing adoption, even in down markets. And initiatives that constantly claim a little more the use of BTC as a means of payment in its own right. This without worrying for a second whether this status is also granted to it by the regulators.

very different positions, between rejection of the hegemony of the dollar by emerging countries or the desire not to miss the next stage of monetary evolution for large companies. And halfway between these two advances, more modest and local initiatives like the Bitcoin Beach adventure in El Salvador. An adoption in “circular economy” mode that seems to want to experiment the small town of Santa Lucia, Honduras.

Bitcoin Valley – New Bitcoin Hub in Honduras

The information still deserves to dwell on it, whereas in a few years it will surely be commonplace. Clear proof of the still palpable youth of the Bitcoin market and the entire cryptocurrency industry. Indeed, the tourist town of Santa Lucia has just announced the establishment of a program called “Bitcoin Valley“. This is to allow its merchants to accept payments in BTC. And, according to local media La Prensa, this is the fourth destination in Central America to offer this service. This after El Zonte Beach (Bitcoin Beach), the Government of El Salvador, Lake Atitlan (Bitcoin Lake) in Guatemala, and the city of El Puntarenas (Bitcoin Jungle) in Costa Rica.

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However, this Bitcoin Valley project has nothing to do with the government of Honduras. Because the latter hesitated a few months ago to make Bitcoin its official currency, without however having taken the plunge at the time of writing this article. Indeed, in the present case it isa local initiative driven by mainly tourism ambitions. Even if the “circular economy” aspect is retained, more for marketing reasons than ideological dictates. In any case, this is what César Andino, director of the Los Robles shopping center in Santa Lucia, suggests.

In Santa Lucia, we will all participate in this project. Accepting Bitcoin will open up a new market and gain more customers. We have to think globally. We can’t close ourselves to technology and we can’t be left behind when other countries are already doing it. »

Cesar Andino

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Because the Bitcoin Valley project is above all an international magnet to bitcoin holders. With the main objective, still according to César Andino, “to open up more opportunities and attract more people who want to use this currency”. Beginning with the training of some sixty local businesses in marketing their products and services in exchange for cryptocurrencies. And the use of a payment terminal specially designed to accept BTC as a means of payment.

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All this with the participation of the organization Blockchain Honduras and the technical management of the Guatemalan cryptocurrency exchange platform Coincaex. But also the National Technological University, which trains students in the crypto education course, and of course the municipality of Santa Lucia. Nevertheless, BTC payments within this Bitcoin Valley will be immediately transformed into local currency. This is to “eliminate the risks of cryptocurrency fluctuation”, according to Leonardo Paguada, founder of the organization Blockchain Honduras. And “business owners don’t respect bitcoin”. Everyone will see – or not – an effective adoption of Bitcoin as a currency…

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