‘Fundamentally Apolitical’ Bitcoin Arrives in Cuba amid US Relations Thaw

'Fundamentally Apolitical' Bitcoin Arrives in Cuba amid US Relations Thaw

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. This is
expected to not only help the island catch up in terms of technological
and communications, but also foster a better environment for alternative
currencies such as bitcoin to take root.

"It's about showing Cubans and the Bitcoin community that it is now
possible to receive Bitcoin through Nauta, the Cuban state-run public
Wi-Fi," BitcoinCuba founder Fernando Villar told the media. "This will
hopefully open everyone's eyes on the possibilities and finally put Cuba
on the Bitcoin map. The idea came about spontaneously."

CoinTelegraph: Why did Block26 decide to invest in Airbitz?

Ni'Coel Stark: Block26 looks to invest in brilliant blockchain
companies with untapped potential. Airbitz is a great example. Airbitz's
decentralized technology and their innovations in edge security allow
for extraordinary possibilities far beyond traditional payments,
including potential application in the Internet of Things.

CT: How significant is this first ever legal bitcoin transfer between
Cuba and the US?

NS: The USA to Cuba transfer (via Airbitz on both sides) was an
extraordinary event. Technology, of all industries, can be the
foundation of one of the earliest and most compelling bridges between
nations that have been separated politically. And Bitcoin is
fundamentally apolitical: it's a common good for the banked and the
unbanked in Cuba, in the United States, and throughout the world.

CT: Do you expect the thaw in relations between the two countries to
continue?

NS: Every public indication from the United States and Cuban governments
points to a more prosperous, shared future for our nations. The United
States has opened an embassy in Havana. The Cuban government has done
the same in Washington DC. It is increasingly easy to travel and trade
between the neighboring countries. As a result, we have every reason to
believe that the burgeoning relationship will only improve.

CT: Do you see this as a positive step for bitcoin in Cuba?

NS: Absolutely: inexpensive and rapid international remittance is a
fundamental use for Bitcoin, and as anyone who has used Bitcoin can
attest, the more people using it, the better it is for everyone.
Naturally, as more users in Cuba are sent or purchase bitcoin, there
will be further acceptance and increased demand for bitcoin with
consumers and businesses, just as is happening throughout the world.

CT: Do you expect accompanying infrastructure such as telecommunications
and internet to improve in Cuba as a result?

NS: The opening of relations with the United States will undoubtedly
accelerate technology and knowledge transfer to the Cuban people. It
will be exciting to see what happens when the Cuban people have access
to the same level of technological infrastructure as the rest of us.

Source: 'Fundamentally Apolitical' Bitcoin Arrives in Cuba amid US
Relations Thaw -
http://cointelegraph.com/news/115075/fundamentally-apolitical-bitcoin-arrives-in-cuba-amid-us-relations-thaw