- Madeira, an island belonging to Portugal, wants to jump onto the world stage as one of the capitals of Bitcoin.
- The president of Madeira, Miguel Albuquerque, assured that Bitcoiners were welcome and that he had plans with the infrastructure startup Jan3 to expand Bitcoin integrations with the local economy.
Madeira, an island belonging to Portugal, today it is known for being the homeland of Cristiano Ronaldo. The best Portuguese footballer of all time and one of the most important scorers in history grew up there. However, this area of beaches and tropical climate wants to jump onto the world stage for being one of the capitals of Bitcoin.
El Salvador opened the way and broke any type of barrier by being the first country to consider BTC a legal tender. Then came the Central African Republic and the Portuguese region could join in the coming months. There are serious and advanced plans in Madeira.
Madeira, pro-crypto land
in May, andhe president of Madeira, Miguel Albuquerque, assured that Bitcoiners were welcome and that he had plans with the “infrastructure startup Jan3 to expand integrations with the local economy”, he highlighted. CryptoSlate.
“Me and Samson Mow (Blockstream CSO) plus and Jan3 are going to keep working for the future. And to create, in Madeira, a fantastic environment for Bitcoin”Albuquerque had stated.
At the famous Bitcoin Amsterdam conference, a series of specialists analyzed how advanced this project is and if the objectives set were truly met. Those who spoke were Daniel Prince (podcaster) as moderator, Troy Cross (part of the Bitcoin Policy Institute), Jeff Booth (businessman), Knut Svanholm (writer,) and André Loja (resident in Madeira), the latter in charge of talking about his country. .
“As the system breaks down, governments are going to be faced with choices, and they’re going to ride the fiat horse or the Bitcoin horse, and for a while, they’re going to have to ride two horses and then they’re going to have to chooseBooth stressed.
The businessman had real doubts about Madeira’s intentions, since this could lead to a tough resistance with the European Union, of which he is a part. These were dispelled after meetings with the president of the region.
It is worth clarifying that the European Union, a block that concentrates most of the most powerful countries of the old continent, is on the opposite side of digital assets while its creation, the euro, fades away. After dominating the dollar for decades, today it is close to 1:1.
Madeira, the Portuguese Bitcoin Beach
Can Madeira become the Portuguese Bitcoin Beach? Everything seems to indicate that it is, especially taking into account the success of El Zonte in El Salvador. In this area, the commercialization of Bitcoin is common and for this reason the Central American country is behind a major project: Bitcoin City.
“52 laws are coming that will dampen this DeFi ecosystem. They have to do with different economic schemes. A law for start ups, a mining law, a DAO law, a creative industries law”, Mónica Taher, director of Technology and Business Innovation of El Salvador, told Bitcoin Mexico during the Blockchain Land of Monterrey.
Loja, a resident of Madeira, admitted that the crypto revolution is still slow and that Bitcoin is little known on the island. From his point of view, the arrival of Bitcoiners will collaborate and encourage people to meet and educate themselves.
The island is not a separatist region, so the major decisions of Portugal affect it and the Portuguese parliament is dealing with new tax legislation: “If the government of mainland Portugal decides to tax cryptocurrencies, as there is already a proposal, we cannot decide not to do it. But we can apply a difference“.
Madeira has good intentions, although that might not be enough to make a big splash. Will there be good news on the island in the coming months?
You might be interested in: