Honduras has been interested in bitcoin (BTC) since El Salvador started using this currency. Tourist Honduras is now open a Bitcoin Valley in Santa Lucia, an area of the country. It is a place that promotes bitcoin, and the authorities behind its creation hope that it will help boost the country’s tourism sector.
Attract tourists by accelerating adoption
The Honduran government wants Bitcoin to be one of the most important currencies in its country. According to a tweet from Bitcoin Magazine, authorities have opened a Bitcoin Valley in Honduras. This area can be used by anyone to transact using Bitcoin as their primary device.
Bitcoin and the entire cryptocurrency market are no exception to the fact that enforcement always comes behind development and acceptance. The rule is simple, and accepted by the experts themselves.
Even when the markets are down, Bitcoin and other cryptocurrencies continue to see adoption at a high rate. Some initiatives claim that Bitcoin can be used as a means of payment on its own, without any regulator recognizing it as a currency anymore. They don’t worry about this fact, instead focusing on using Bitcoin as much as they can.
There are many different opinions on how to handle the next evolution of money; some countries don’t want their currencies to be dollar-dominated, while other companies fear they won’t be able to join the next stage of monetary evolution.
Bitcoin Beach in El Salvador and Santa Lucia in Honduras have launched smaller local initiatives. It is more about adopting the circular economy mode than about major and global changes.
Cesar Andino is a business center manager in the Bitcoin Valley region. He explains that people can buy ice cream with their cryptocurrencies on the streets of Bitcoin Valley. This, he says, will give people more opportunities to use their currency and draw more people into the region.
Latin America: driving adoption?
César Andino explains that the Bitcoin Valley will be 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.
The project will enable around 60 former local businesses 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 Coincaex Guatemalan crypto exchange consortium, the Technological University of Honduras and the Municipality of Santa Lucia together. Sixty companies will initially be in the area, according to the organizers.
Latin American countries are breaking boundaries with their creative ideas, in order to bring about positive change for cryptocurrencies. After El Salvador, Honduras has also decided to leave the ranks of countries opposed to the central bank and become a Bitcoin-friendly nation.
Leonardo Paguada is the founder of Blockchain Honduras, and announced that in this Bitcoin Valley, all BTC payments will be immediately transformed into local currency.
Indeed, he says that the risks of BTC currency fluctuation will thus be eliminated and that business owners will not even be eliminated from Bitcoin as such. This would mean an effective adoption of Bitcoin as a currency.
Bitcoins are becoming more and more popular and Honduras is innovating by accepting Bitcoin Valley in its country. This area is for locals and tourists to use cryptocurrencies including bitcoin (BTC) and other coins. This is the first time that Honduras has launched an innovation like this, and it is hoped that it will spread to other parts of the country.