Bitcoin in Cuba: “This currency would not be punished like the dollar is today”
Proof that Bitcoin can empower the minority, independent of political will or regulatory circumstance, is coming to light in 2015 – in Cuba. In an exclusive interview with CoinTelegraph, members of the Club Anarcocapitalista de Cuba (Cuban Anarchocapitalist Club; CAC) were able to go on record to describe their mission to bring the social and economic freedom engendered by Bitcoin to their local community. Changing international relations with Cuba have made international headlines in recent months. Trade embargoes with the US are under review, and in their absence a Cuba could emerge....
Related News
As the first recorded BTC transaction in history between Cuba and the United States is now history, CoinTelegraph spoke with Ni’Coel Stark, Managing Principal and Co-Founder at Block26, which recently invested US$450,000 into bitcoin wallet startup Airbitz that was used to perform the milestone transaction. Bitcoin in Cuba. Back in March, members of the Club Anarcocapitalista de Cuba (Cuban Anarchocapitalist Club; CAC) went on record and explained their mission to CoinTelegraph about bringing social and economic freedom with the help of Bitcoin to their local community. “Bitcoin is....
The Republic of Cuba is suspending the use of U.S. dollars due to embargo restrictions with U.S. and foreign banks. The central bank of Cuba’s restrictions stems from the “obstacles that the U.S. embargo creates for the national bank system.” Cuba Bans USD Deposits, BCC Tells Tourists to ‘Arrive With a Currency Other Than the Dollar’ Cuba, the island country located where the Caribbean Sea, Gulf of Mexico, and the Atlantic Ocean meet, said this week U.S. dollars will be suspended in the country. The mandate comes from the country’s central bank and....
Bitcoincuba aims to introduce the cryptocurrency bitcoin to the Cuban community, with the first transaction already made through a public WiFi. According to founder Fernando Villar, this could show Cubans that it is possible to transact using the cryptocurrency via Nauta, the state-run public WiFi network. "This will hopefully open everyone's eyes on the possibilities and finally put Cuba on the bitcoin map," Villar mentioned. Bitcoin in Cuba. The financial system is a little more complicated in Cuba, as there are two official currencies in circulation. One is the peso, which is used for....
The Latin American nation of Cuba is the only socialist country in the world that follows Marxist-Leninist principles. Located in the Caribbean, the economy of Cuba is completely under government control. Everything from industries to market is run by the state and the state employs most of the country's workforce. Cuba has a troubled economy, created mainly by the government's excessive control over the country's industries and prolonged sanctions imposed by OAS, which was continued by the United States. The country has a two tiered economy, with two different sets of currencies. While....
Bitcoin is the digital currency of the people, irrespective of region, religion, sex or politics. The recent bitcoin transaction between the United States and Cuba has proven that bitcoin, true to its essence is indeed a global currency. The aforementioned transaction happened earlier this month after considerable improvements in the diplomatic relations between both the countries took place. Republic of Cuba, the largest island in the Caribbean was subject to economic sanctions by the United States for over 50 years before showing signs of thawing. There has been few developments in the....