In the same vein, Honduras has now introduced a project called “Bitcoin Valley,” where visitors are allowed to pay for services and products such as a glass of slushie from local businesses with crypto-currencies at Bitcoin Valley, located in the tourist area of Santa Lucia.
Blockchain Honduras is a project jointly developed by the Guatemalan cryptocurrency exchange consortium Coincaex and the Technological University of Honduras and Santa Lucia’s municipality. It plans to allow more companies to make payments through crypto, not just nearby areas.
There is a major downside to doing business with crypto. Because digital currencies can cause serious price fluctuations, says Leonardo Paguada, founder of the Honduran organization.
So businesses in Santa Lucia claim to receive services without having to pay cryptos directly to dollars instantly.
This is said to stabilize the status of cryptocurrencies and provide an incentive to its investors to correct its position.
Get the more news updates about Crypto