Honduras’ ‘Bitcoin Valley’ joins other bitcoin projects in Central America – El Salvador’s ‘Bitcoin Beach’ Guatemala’s ‘Bitcoin Lake’, and ‘Bitcoin Jungle’ in Puntarenas, Costa Rica.
Honduras has opened its own bitcoin city in Santa Lucia, a tourist town about 20 minutes from the country’s capital Tegucigalpa.
People now have access to goods and services that they can easily pay for all across the ‘Bitcoin Valley,’ Reuters reported on Friday.
The project is an initiative of Blockchain Honduras, Coincaex (a Guatemalan crypto exchange), the Technological University of Honduras and the local Santa Lucia municipality.
Opening up to crypto-tourism
The launch of ‘Bitcoin Valley’ comes amid increased tourist use of bitcoin and other cryptocurrencies, and its establishment looks to promote the Santa Lucia economy through crypto-tourism and by encouraging local business to start accepting digital asset payments.
The initial plan, according to the report, is to have 60 local businesses adopt the use of crypto – with the training then extended to other enterprises.
These businesses will not have to worry about the tissue of crypto volatility as merchants will not receive the cryptocurrencies. Rather, the crypto exchange Coincaex will process the payments for merchants within the ‘bitcoin city’, with businesses having instant access to what customers pay via the local currency.
The launch of ‘Bitcoin Valley’ joins other three major crypto projects across the Central American region seeking to promote adoption among the general public within specific towns or regions.
There’s El Salvador’s ‘Bitcoin Beach’ in El Zonte, ‘Bitcoin Lake’ in Guatemala, and ‘Bitcoin Jungle’ in Puntarenas, Costa Rica.