• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
A Caribbean island accepts Bitcoin

Bitcoin, Common Currency in This Caribbean Luxury Community

Eduardo Próspero by Eduardo Próspero
3 years ago
in Bitcoin, Bitcoin Acceptance, Bitcoin Businesses
0

The island of Bequia is located in the Grenadines. According to One Bequia’s website, it’s “Known to be the best kept secret getaway of world leaders & celebrities.” And, in that community, sooner than later, you’ll be able to pay for most things in Bitcoin. You’ll even be able to buy property in the 39 luxury villas that they’re building.

Besides PR, there’s a solid reason that the project is pushing Bitcoin acceptance. The population is having trouble sending and receiving money. To reduce risk, transnational banks are shutting down their intermediary banking services. And thus, small banks in Caribbean islands consistently get cut off the world’s financial system. 

The man behind the One Bequia, Storm Gonsalves, recently told Euronews:

“This has pushed many Caribbean island nations to adopt blockchain and other cryptocurrencies a lot faster than other more developed nations. Bermuda, Bahamas, Barbados and now St. Vincent are leading the way in this regard.”

Related Reading | SimpleFX Trading App Launches New Website

Bitcoin Accepted in Bequia

The development will be “a forward-looking community” for “digital nomads and holidaymakers.” You’ll be able to pay in Bitcoin throughout the whole complex, from the grocery store to the cinema. 

Also, in The Cliff. A clubhouse that contains a restaurant, a bar, a cafe, an art gallery, a bowling alley, a gym, business rooms, a kid’s lounge, and an arcade room. Pretty much everything you could ever need.

BTCUSDT - 04/29 - TradingView

BTC price chart on Huobi | Source: BTC/USDT on TradingView.com

About the transactions, Gonsalves told Techround:

“The only difference with a bitcoin transaction compared to a cash transaction is that the conversion price will be predetermined and agreed between buyer and seller. For instance, the process entails that a deposit be paid, the bitcoin will be sent to our wallet, where we then convert it to our desired fiat currency to hold as a deposit.”

That process sounds like it needs work, but ok. According to Gonsalves, the Caribbean’s “laidback island atmosphere” makes a forward-thinking project like this unlikely. Nevertheless: 

I wanted to break out of this mold and surprise the world by pioneering a new way of project financing, such as the use of alternative payment methods such as Bitcoin.

Related Reading | Bitcoin.com Announces Partnership With Luxury Watchmaker Franck Muller

A new Central Bank Digital Currency arises

In related news, the islands of St Lucia, Antigua and Barbuda, St. Kitts and Nevis, and Grenada unveiled DChash in March. This blockchain-based digital currency is not a decentralized cryptocurrency, it’s a CBDC. The exact opposite. The central bank issues DCash, and it has a fixed value.

As Bitcoinist informed you:

DCash is a digital version of the Eastern Carribean dollar — which is the official currency for eight Carribean nations. The ECCB has partnered with fintech provider Bitt to oversee infrastructure and operation of the brand new digital currency. 

The central bank promised that the new instrument would “increase financial inclusion, competitiveness and resilience for the people of the Eastern Carribean Currency Union.” We have no reason to doubt them.

Bitcoin does it better, though.

Photo by iSAW Company on Unsplash - Charts: TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Beware of my Telegram impersonator!

Related Posts

Polygon

Polygon Reigns Supreme With 76% Inscription Activity On EVM Chains

14 hours ago
Terra Classic

Terra Classic Price Climbs 77% Amid Do Kwon Extradition Drama

16 hours ago
Bitcoin supply

93% Of All Bitcoin Has Now Been Mined, How Much BTC Is Left?

18 hours ago
IBM

Big Blue’s Big Move: IBM Reveals Cutting-Edge Crypto Cold Storage Tech

2 days ago
Bitcoin

Swiss Pioneers: Lugano City Breaks New Ground, Accepts Bitcoin And USDT For Taxes

3 days ago
Bitcoin

The Bitcoin Boom: 50 Million Addresses Signal 20% Rise In Adoption

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • 7 DeFi tokens to make you rich in 2024

    9 hours ago
  • Retik Finance (RETIK) will Replace Polygon (MATIC) in 2024

    9 hours ago
  • This New Casino Token Offers Daily Passive Rewards Up to...

    10 hours ago
  • Investors Pile Onto eTukTuk (TUK) Presale, Under A Week...

    10 hours ago
  • 3 Days Left to Join the Chimpzee Presale: Last Chance to...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.