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- Usiacurí becomes Colombia’s first municipality to integrate cryptocurrencies like Bitcoin, Tether, and Tron into its economy.
- The “Crypto District” initiative is a partnership between Usiacurí’s municipality, Certika, Universidad de la Costa, and Corporación CienTech.
Usiacurí, a quaint coastal town in Colombia, has taken a pioneering step by becoming the country’s first municipality to legally incorporate cryptocurrencies into its local economy. Launched on June 21, this innovative move is part of the “Crypto District” project, a collaborative effort between the Usiacurí municipality, Certika, Universidad de la Costa, and Corporación CienTech.
This initiative allows the use of cryptocurrencies such as Bitcoin, Tether, and Tron for both tourists and local residents to conduct transactions. The integration of digital currencies into Usiacurí’s economy is aimed at addressing the needs of foreign tourists and adapting to the demands of an increasingly globalized and digital world.
As we have written in Crypto News Flash, it positions Usiacurí at the forefront of financial technology by enabling artisans and local businesses to transact using blockchain technology, thus providing a fast and secure payment method.
Beyond facilitating e-commerce, the project is designed to boost the local economy by enabling artisans and small businesses to seamlessly sell their goods and services using blockchain technology. This move is expected to transform how commercial transactions are conducted in Usiacurí, enhancing efficiency and security for both buyers and sellers.
The inspiration for the “Crypto District” came from Bitcoin’s adoption in El Salvador, which you can read more about in our coverage in Crypto News Flash, which was closely studied by Tito Crissien, the executive director of CienTech and an advisor at Universidad de la Costa. The university has been instrumental in the project, providing research and academic support through its studies on blockchain and its applications.
Crissien commented:
“The participation of the Universidad de la Costa was fundamental throughout the entire process, since through its teachers and researchers they have been strengthening the line of research into blockchain and its applications, such as this tool that “It allowed us to turn Usiacurí into the first municipality with a cryptocurrency district, generating more sales in its tourism and hotel sector.”
Usiacurí’s mayor, Julio Mario Calderón, expressed his enthusiasm about the initiative, highlighting its potential to attract visitors and establish the municipality as a key destination for cryptocurrency enthusiasts. According to reports, over 60 local artisans, three hotels, two tourist guide agencies, and seven restaurants are already participating in the project.
At the project’s launch, local artisans were equipped with cryptocurrency wallets and trained to conduct their first transactions. This initiative not only enhances Usiacurí’s tourism and hospitality sectors but also positions it as an innovative model for integrating crypto technology into municipal management and local commerce.
