The Department of Commerce of the Torrevieja City Council and the Association of Small and Medium-sized Businesses (APYMECO) want to turn Torrevieja into the first “crypto-friendly” city in Spain.
Torrevieja is becoming the first city in Spain to officially embrace cryptocurrencies.
Recently, city authorities announced that Shops in Torrevieja will be able to accept payments with cryptocurrencies such as BitcoinThis is part of a new plan by local authorities to boost the economy, accelerate digitalization and ensure technological development through cryptoassets and blockchain technology.
The Department of Commerce of the Torrevieja City Council published a release in which he explains that Cryptocurrencies will be accepted as a transactional medium within the jurisdiction, allowing business owners to collect payments for products and services from consumers using cryptoassets, such as Bitcoin.
According to the Department, the plan to turn Torrevieja into the first “crypto-friendly” city in Spain will be implemented in several stages, starting with the acceptance of payments in these digital assets.
A bold move towards digital transformation with cryptocurrencies
Rosario Martínez Chazarra, councilor of Torrevieja, highlighted The potential of cryptocurrencies to modernize the cityHe said that the new initiative will serve to motivate cryptocurrency holders to use their assets to acquire products and services, which will help digitize the local productive fabric and boost trade.
Martínez Chazarra also indicated that the City Council hopes that the adoption of cryptocurrencies as a means of payment will allow it to continue contributing to local economic development.
The councillor also highlighted that the City Council is collaborating with the Association of Small and Medium-sized Business Owners of Torrevieja (APYMECO), to accelerate the use of cryptocurrencies through training courses aimed at merchants who participate in the new initiative.
The University of Alicante (UA) is also collaborating with local authorities on this project, said Martínez Chazarra.
Trade, sustainability and business development
As mentioned, Torrevieja wants to become a crypto-friendly city, through a plan that will be implemented in several stages and with different purposes. One of these is to boost and accelerate trade through the acceptance and use of cryptocurrencies as a means of payment. However, through new technologies, the Spanish city also seeks to guarantee environmental sustainability and encourage business growth.
In fact, Martínez Chazarra explained that the second stage of his new project, after the adoption of cryptocurrencies as a means of payment, will be to use blockchain technology to generate a positive impact on the environment. The city will implement this innovative technology to ensure sustainability through the recovery of natural spaces.
On the other hand, emerging technologies from the crypto industry will also help Torrevieja to boosting employability and business promotion Inside the city.
In the statement shared by the City Council, it is highlighted that the adoption of cryptocurrencies and blockchain will contribute to “the creation of new jobs and financing for companies in the technology sector.”
The legality of cryptocurrencies in Spain
Jorge Almarcha, president of APYMECO, emphasized that, since 2015, it has been legal to pay with cryptocurrencies in Spain, so the initiative promoted by the city of Torrevieja will have a significant positive impact on the region. According to Almarcha, the city is pioneering in democratizing cryptoassets, encouraging their use as a means of payment “in standard, neighborhood, traditional commerce.”
As pioneers in the acceptance of cryptocurrencies at a local level, Torrevieja hopes that this will serve as a boost, both to accelerate the technological evolution of the municipality, and to encourage local investment and tourism. These objectives are similar to those set by El Zonte, in El Salvador, with Bitcoin. The region has become the epicentre of digital innovation in the country, which adopted Bitcoin as legal tender in September 2021.
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Main image by Olé Immobilier
