A Caribbean island becomes the first bitcoin community in the world.
In Bequia, an atoll of 18 square km in the archipelago of St Vincent and the Grenadines, residents will pay for properties, goods and services, including essentials such as food, entirely in cryptocurrency.
The project was born from an idea of the real estate developer Storm Gonsalves, who plans to build 39 luxury villas, shops, a club house and buildings with his company One Bequia.
Properties can be purchased using cryptocurrency where prices are locked to avoid fluctuations during transactions. To the media, Gonsalves explained that buying cryptocurrency properties "will become a very normal thing in the years to come". "Right now we are experimenting with an alternative form of financing - he specified - And also a new way of marketing".