Bitcoin in Cuba: Why some Cubans are adopting BTC to escape ‘The Matrix’
Private businesses in Cuba could be poised to benefit from the cryptocurrency revolution in one of the world’s harshest business environments. Bitcoin adoption could swell in Cuba, particularly if private businesses understand the upside to accepting Bitcoin (BTC) as currency. That’s according to a Cuban businessperson and Bitcoin advocate, Erich Garcia Cruz. A recent emigrant to the United States, Cruz is a vocal proponent of Bitcoin adoption in Cuba. Cruz leads the remittance and money transfer services BitRemesas and QvaPay and has been outspoken in his support for his countrymen using Bitcoin since 2020. In an interview with Cointelegraph as part of an upcoming documentary, Cruz explained that Cubans can use Bitcoin “as a tool.” Photo of Erich and Joe during the interview. Source: Cointelegraph While some Cubans use Bitcoin as a store of value, a means of exchange, or a remittance tool, ultimately it’s about getting “out from the Matrix,” he explained. Cruz referred to the country...