The world’s first Bitcoin city named Bitcoin Valley was launched

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The world’s first bitcoin city was launched in Honduras. Sandra Lucia residents will soon be able to buy the products they want from Valley stores.

Bitcoin Valley, the world’s first Bitcoin city, was launched in Honduras. This city is located in the tourist area of ​​Sandra Lucia. Businesses in this area will use Bitcoin as a payment method.

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Launching the world’s first bitcoin city

The world's first Bitcoin city named Bitcoin Valley was launched

A local business owner in Santa Lucia had this to say about the launch of the world’s first bitcoin city:

Bitcoin acceptance will open our way to another market. This will bring us more customers as a result.

The world’s first bitcoin city is located 20 kilometers from the capital of Honduras, Tegucigalpa. This initiative is carried out in collaboration with Blockchain Honduras, Coincaex digital currency exchange, Technological University of Honduras, Decentralized Academy and the Municipality of Sandra Lucia. Blockchain Honduras announced the launch of this city on Thursday.

Cesar Andino is the president of the Los Robles commercial square in Sandra Lucia. There are many commercial stores operating in this area. In addition to the US dollar and the Honduran lampreen, Caesar also accepts Bitcoin as a payment method. Andino told La Prensa last week that he is waiting to receive a special POS machine for the stores in the region. This device enables payment with Bitcoin. He further added:

All of us at Sandra Lucia will participate in this project. The acceptance of Bitcoin creates another market. This ultimately leads to attracting more customers. We have to become global and we cannot close our eyes to technology. Other countries are moving forward and we should not lag behind them.

Carlos Leonardo Pagoda Velazquez, founder of the Honduran blockchain and representative of the Association of Central American Digital Currency Users (Acucrip), told La Prensa a few days before the official launch of Bitcoin Valley City:

About 60 businesses will work on the Bitcoin Valley project.

He also noted that the owners of these businesses have been trained to use Bitcoin and blockchain technology by the decentralized academy.

The Coincaex exchange has developed POS devices that will allow merchants to receive payments in BTC. According to Paguada, the Coincaex exchange will take the risk of using these devices due to the heavy volatility of the cryptocurrency market. In his speech, Pagoda explained how Bitcoin POS devices work:

If a family wants to buy pupusa (a famous Honduran dish) at a restaurant in Santa Lucia and wants to pay for it with Bitcoin, the equivalent of Lempira will be deducted from their cryptocurrency wallet. Next, the Coincaex exchange receives bitcoins and then transfers the amount to the restaurant in Lempira. Business owners will not receive bitcoins in this way and Lempira will be credited to their account.

Ruben Carbajal Velasquez, a professor at the Technological University of Honduras, also told Reuters: “The community of Santa Lucia will be trained to use and manage digital currencies and implement them in various businesses in the region, as well as the formation of the tourist-cryptocurrency system.”

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Source: bitcoin

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