The relationship between Central America and bitcoin is still very much like that of two peas in a pod. El Salvador was the first country in Central America, in 2021, to begin the movement of embracing and utilizing bitcoin as if it were a legitimate form of currency. The nation was the first to recognize bitcoin as a valid form of currency, and since then, it hasn’t returned. Now, the neighboring area of Honduras – while not going so far as to pronounce bitcoin money – is leveraging the world’s number one digital currency to lure tourists through a sector of the municipality of San Lucia that it has dubbed “Bitcoin Valley.”
Is Honduras Poised to Become the Next Important BTC Region?
Given that El Salvador constructed “Bitcoin Beach” in the center of the surfing hotspot of El Zonte, Honduras is in many respects taking a page right 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 region has gained notoriety as a result of the fact that all retail businesses within the territory now accept cryptocurrencies such as bitcoin as ways of payment. In the end, the nation made a full turn about and now uses Bitcoin (BTC) for all of its transactions, just like it does US Dollars (USD).
Even though Honduras isn’t likely to go quite this far, the municipality of Santa Lucia already has its own distinct brand of companies and organizations who are eager to give Bitcoin (BTC) a fair shake. These businesses all acknowledge bitcoin as a valid means of income for purchases of their wares and services. The name is a pun on the location known as “Crypto Valley,” which is located in Switzerland. That part of the world is well-known for being home to a diverse range of blockchain and cryptocurrency firms.
The hamlet of Santa Lucia, which serves as the hub of the Bitcoin Valley, is located around 20 minutes outside of Tegucigalpa, the capital city of Honduras. It is encircled by highlands and provides a substantial amount of beauty to those who live there as well as those who come to visit. The clincher is the fact that many 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 means of payment, so they can experience everything the area has to offer.
This will make additional choices available, as well as attract more people who are interested in utilizing this currency.
The acceptance of cryptocurrencies will be taught to sixty different businesses as part of Bitcoin Valley’s mission. The people in charge of putting the plan into action have high hopes that the phenomenon will gain traction and that Honduras will eventually become the next El Salvador if more enterprises in the nation accept cryptocurrencies or are at least prepared to consider them from a respectable perspective.
Increasing the Number of Opportunities Available to Businesses
The nonprofit Blockchain Honduras, in collaboration with the Guatemalan cryptocurrency exchange Coincaex, was eventually responsible for the development of Bitcoin Valley. The following was stated by Ruben Carbajal Velazquez, a researcher at the Technological University of Honduras:
The people of Santa Lucia will receive training on how to use and administer cryptocurrencies, which will pave the way for their adoption across a variety of Santa Lucian businesses and the creation of cryptotourism opportunities.