Is Madeira The Next Bitcoin Paradise?
It looks like the world isn’t ready for bitcoin just yet, but one particular island off the coast of Portugal thinks it could be the next hotspot for cryptocurrency – Madeira. With a presidential-level visit from the president of the autonomous region’s government this week, it looks like the island could very well become the ideal spot for blockchain and digital currency enthusiasts.
A Crypto-Friendly Place for Business?
The president’s visit was to discuss the potential for cryptocurrency investment and development in Madeira. With its proximity to Europe and access to the latest technologies, it could very well be the perfect place to develop and grow the industry.
And while they appeared to have had a positive meeting, there’s still a lot to be done before Madeira can become a fully-fledged bitcoin paradise. Which is where the president’s next plan comes into play.
Unlocked Potential
The president announced that the government would be offering generous subsidies and financial incentives to any businesses who decided to move to Madeira and develop their crypto projects there.
The incentives could include discounted business and tax rates, as well as additional funding for research and development programs. All of which could be just what’s needed to get this buzzy island onto the cryptocurrency map.
The Bitcoin Revolution
It seems that Madeira is doing its best to make the most of the cryptocurrency zeitgeist, and it’s an exciting prospect for the island. Who knows – with this kind of attitude, perhaps one day we’ll be hearing bitcoin enthusiasts say ‘Madeira, here I come!’
But before any of that can happen, here are a few things that need to happen:
- Build an infrastructure – A good infrastructure will make it easier for people to use cryptocurrencies and make exchanges.
- Encourage Local Businesses – Encourage businesses to accept cryptocurrencies as payment for goods and services.
- Create an Environment of Education – Create and promote events and programs to educate people about the possibilities of blockchain and cryptocurrency.
It’s exciting times for Madeira and cryptocurrency, and with a presidential visit, it looks as though this tiny island is well on its way to becoming a real bitcoin paradise. Fingers crossed.
