Bitcoin Poised To Change Cuba’s Financial Ecosystem

Bitcoin can be a powerful tool in unbanked and underbanked regions of the world.  But even oppressive regimes are a breeding ground for Bitcoin enthusiasm, as citizens can avoid the entire country’s ecosystem by using digital currency.  In Cuba, the first ever public Bitcoin transaction has been recorded in the country’s history books.

Cuba – A Country On The Rebound After A Dark Period

Needless to say, Cuba has had a long and coloured history with the United States for quite some time now.  In recent months, however, negotiations between Washington D.C. and Cuba are paving the way for a fruitful collaboration between both countries again.  This is about time, considering both countries have been “at war” with one another for over 50 years.

These bright future prospects are a direct result of Barack Obama’s efforts to liberalize Cuba’s economy, which also affects Cuban-Americans living both on the Island and in the United States.  If all things go according to plan, the US Congress will lift the trade embargo between both countries and put a stop to travel restrictions from the US to Cuba and vice versa.

“It’s about showing Cubans and the Bitcoin community that

Read more ... source: CryptoArticles