Bitcoin and Central American countries continue to go hand in hand like two peas in a pod. El Salvador was the first country in Central America, in 2021, to begin the trend of accepting and utilizing bitcoin as if it were legitimate money. This tendency spread throughout the rest of the region in the following years. The nation was the first to recognize bitcoin as an acceptable form of currency, and since then, it hasn’t looked back. Now, the neighboring area of Honduras – while not going so far as to declare bitcoin money – is leveraging the world’s number one digital currency to lure tourists through what it is calling “Bitcoin Valley,” which is a part in the town of Santa Lucia.
Is Honduras Poised to Become the Next Largest BTC Region?
Given that El Salvador constructed “Bitcoin Beach” smack dab in the center of the surfing hotspot of El Zonte, Honduras is, in many respects, taking a page directly out of the El Salvador crypto playbook while not going as far as El Salvador did. However, Honduras is not going as far as El Salvador did. In recent years, the neighborhood has gained notoriety as a result of the fact that all companies located within the zone now accept cryptocurrencies as ways of payment, such as bitcoin. In the end, the nation completed a full circle and now uses Bitcoin (BTC) for all of its transactions, just like it does US Dollars (USD).
Although Honduras is not likely to go this far, the municipality of Santa Lucia today has a unique brand of businesses and organizations who are eager to give BTC a fair go. Bitcoin is recognized as a valid mode of exchange by each of these businesses, and customers can use it to pay for products and services. The name is a pun on the location known as “Crypto Valley,” which can be found in Switzerland. That part of the world is well-known for being home to a diverse range of cryptocurrency and blockchain startup companies.
The village of Santa Lucia, which serves as the hub of the Bitcoin Valley, can be reached from Tegucigalpa, the capital of Honduras, in just twenty minutes. It is encircled by mountains and provides a substantial amount of beauty for those who live there as well as for those who come to visit. The clinching evidence is that a significant number of businesses are placing their hopes on bitcoin as a means of luring tourists. They are hoping that more people will visit the region because they now accept bitcoin as a form of payment. This will allow them to experience all that the area has to offer.
The acceptance of cryptocurrencies will be taught to a total of sixty different enterprises as part of Bitcoin Valley’s mission. The people in charge of putting the plan into action are optimistic that the fad will gain traction and that Honduras will become the “next El Salvador” as a growing number of companies across the country accept cryptocurrencies or are at least willing to consider them from a respectable perspective.
Providing an Increase in Opportunities for Businesses
Blockchain Honduras, a blockchain technology firm, and Coincaex, a cryptocurrency exchange based in Guatemala, are ultimately responsible for the development of Bitcoin Valley. Professor Ruben Carbajal Velazquez from the Technological University of Honduras made the following statement: