According to Reuters, there is a project in Honduras’ tourist destination Santa Lucia, which is a project that encourages the country to enter the digital currency flow. “Bitcoin Thanks to “Valley” people cryptocurrencies You can pay for a drink called slushie.
This small mountain town 20 minutes from the capital Tegucigalpa has become a Bitcoin city.
Owners of businesses large and small in Santa Lucia have started using cryptocurrencies as payment, hoping to attract more tourists.
Honduras’ Santa Lucia District Starts Experimenting With Bitcoin Payments To Attract Tourists
“It will create more opportunities and attract more people who want to use this currency,” said Cesar Andino, manager of Los Robles mall.
The “Bitcoin Valley” project aims to initially train 60 businesses and adopt cryptocurrencies to market their products and services, and hopes to expand these practices to more businesses and nearby regions.
The initiative was jointly developed by the Blockchain Honduran organization, the Guatemalan cryptocurrency exchange association Coincaex, the Honduran University of Technology, and the municipality of Santa Lucia.
“The Santa Lucia community will be trained to use and manage cryptocurrencies, apply them in different businesses in the region, and create crypto tourism,” said Ruben Carbajal Velazquez, professor at Honduras University of Technology.
While some Latin American countries are doing research on the potential of cryptocurrencies, there are of course some risks.
In 2021, the Central American country of El Salvador adopted BTC as its official currency.
The Central American country’s investment in BTC has been hampered by the downturn in the crypto market. The country’s $105 million publicly disclosed BTC assets are currently worth around $57 million.
Leonardo Paguada, founder of the Blockchain Honduran organization, said that to deal with volatility, “Bitcoin Valley” will “eliminate the risks of volatility in cryptocurrencies by enabling traders to receive instant payments in the local currency.”
*Not investment advice.