Thursday, January 27

City of Brazil allows tourists to live 100% with cryptocurrencies

Key facts:
  • São Thomé das Letras partnered with Dash to achieve a digitization of its economy.

  • In addition to tourism, the technology is applied in other areas such as agriculture and livestock.

As a consequence of the COVID-19 pandemic in 2020, many cities closed their doors to visitors and had to face an adaptation process. In the state of Minas Gerais, a small municipality in Brazil, he decided to begin the transition to a digital economy and thus be prepared for the “new times” to come.

An example of this is São Thomé das Letras, a town where local merchants began to investigate cryptocurrencies, non-fungible tokens (NFT), blockchain and “decided to make the city tourism 100% based on cryptocurrencies”, as explained by Bruno Contardi, Business and Development Manager of Dash in Latin America.

In dialogue with CriptoNoticias during the Crypto Summit del Sur held in Ciudad del Este, Contardi explained what it consists of this project called Crypto Valley. “The company provided them with content, training and taught them how to go about receiving payments in cryptocurrencies. Dash is the official currency of the Crypto Valley ”, he specified.

Nowadays, the initiative covers more than 80 businesses, mainly from the tourist sector. “Every tourist business in the city accepts it, so tourists can live 100% in cryptocurrencies in it. They can be used in accommodation, restaurants, tourist guides, shops, among others.

Sao Thomé das Letras does not have an outlet to the ocean, but it is close to the beaches of southeastern Brazil. Source: Google Maps.

Through this proposal, people visiting the city can “remain fully in the digital economy without the need for a credit or debit card.” And even the adoption of cryptocurrencies is also expanding to other sectors, such as agriculture and livestock, two important activities for the region, says Contardi. Thus, São Thomé das Letras has become an “important business point” in Brazil, he explains.

Dash, bitcoin and blockchain in Brazil and Paraguay

The Dash team, a cryptocurrency that is presented as an option to carry out small transactions instantly, has also dialogued with other Brazilian municipalities to replicate the initiative in their localities, such as Itaperba and Querupinas.

Of course taking the model to other countries is also an idea for the future, and that is why the presence of Dash —through Bruno Contardi and Ernesto Contreras— in the first event on blockchain and cryptocurrencies in Paraguay that CriptoNoticias also attended.

Bruno Contardi, Dash representative at the Crypto Summit del Sur 2021 in Ciudad del Este. Source: CriptoNoticias.

For the moment, the first step has been taken in São Thomé das Letras, a municipality where less than 10,000 people live. There, the caves, waterfalls and mountainous landscapes make tourism the main economic activity.

Cryptocurrencies emerge not only as a method to bring the finances of its citizens to a level of greater accessibility and freedom, but also as a tourist attraction in itself. This happened in El Salvador since its adoption of bitcoin as legal currency, for example, a fact that aroused the curiosity of the bitcoiner community from different parts of the world.