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.
“We believe that Bitcoin has an essential role to play within the context of renewed relations between Cuba and the USA,” CAC co-founder Joisy Garcia said. “This currency would not be punished like the dollar is today; the dictatorship makes holding dollars a burden, but the introduction of Bitcoin would allow us to potentially dodge this problem.”
In recent months, however, relations between Washington D.C. and Havana have improved dramatically and the nations are on pace to reestablish permanent economic ties after over 50 years of war and conflict.
The US Congress is expected to lift the trade embargo with Cuba and put a stop to travel restrictions between the two countries.