The island of Bequia lies in the Grenadines. According to One Bequia’s site, it’s “Known to be the very best concealed trip of world leaders & stars.” And, in that neighborhood, faster than later on, you’ll have the ability to pay for most things in Bitcoin. You’ll even be able to buy residential or commercial property in the 39 high-end rental properties that they’re developing.

Besides PR, there’s a strong factor that the job is pressing Bitcoin approval. The population is having trouble sending and getting cash. To lower danger, multinational banks are shutting down their intermediary banking services. And hence, small banks in Caribbean islands regularly get cut off the world’s financial system.

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

” This has pressed many Caribbean island countries to adopt blockchain and other cryptocurrencies a lot faster than other more industrialized countries. Bermuda, Bahamas, Barbados and now St. Vincent are blazing a trail in this regard.”

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Bitcoin Accepted in Bequia

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

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Likewise, in The Cliff. A clubhouse that contains a dining establishment, a bar, a coffee shop, an art gallery, a bowling alley, a fitness center, business spaces, a kid’s lounge, and a game space. Basically everything you could ever need.

BTC rate chart on Huobi|Source: BTC/USDT on TradingView.com About the deals, Gonsalves informed Techround:” The only difference with a bitcoin transaction compared to a cash deal is that the conversion rate will be predetermined and agreed between buyer and seller. For example, the process requires that a deposit be paid, the bitcoin will be sent out to our wallet, where we then transform it to our preferred fiat currency to hold as a deposit.”

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

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

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A new Central Bank Digital Currency develops

In associated 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 specific opposite. The reserve bank problems DCash, and it has actually a fixed value.

As Bitcoinist informed you:

DCash is a digital version of the Eastern Carribean dollar– which is the official currency for 8 Carribean nations. The ECCB has partnered with fintech provider Bitt to oversee facilities and operation of the brand name new digital currency.

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

Bitcoin does it better, however.

Picture by iSAW Business on Unsplash – Charts: TradingView