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June 7, Bank of England Monetary Policy Committee member Green said at an economic conference on Saturday that despite the acceleration of consumer price growth in the short term, the UKs anti-inflation will continue. Green said: "The anti-inflation process is still ongoing, although inflation has actually risen in the past few months, and we expect it to continue to rise in the third quarter of this year." Green said: "Despite the short-term price peak, we expect inflation to continue to fall to our 2% target in the medium term." Green said. Green is regarded as one of the most hawkish officials of the Bank of England. Although she supported the 25 basis point cut in interest rates to 4.25% last month, she, like some other policymakers, prefers to keep borrowing costs unchanged.According to TASS: The head of the Russian delegation, Medinsky, said that the Ukrainian side unexpectedly postponed indefinitely the arrangements for receiving the remains of fallen soldiers and exchanging prisoners of war.ECB Executive Board member Schnabel: We do see that the more persistent components of inflation are also gradually declining, but some data have not yet reached expected levels.According to TASS: The Russian delegation said during talks with Ukraine in Istanbul that Russia has delivered to Ukraine the first exchange list of 640 prisoners of war.On June 7, some officials in the US presidential administration expressed dissatisfaction with the Ukrainian drone attack on the Russian airport. According to the agency, citing sources, "While some US government officials privately said that they were impressed by the attack, there were also signs that they were dissatisfied with it and believed that it would only strengthen (Russian President Vladimir) Putins determination to continue the war."

Honduras launches ‘Bitcoin Valley’ in the tourist town of Santa Lucia

Skylar Shaw

Aug 01, 2022 15:44

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People may use cryptocurrency to purchase slushies on the streets of "Bitcoin Valley," a project in the tourist destination of Santa Lucia, Honduras, through which the nation has adopted the trend of virtual currencies.


A bitcoin city has emerged in the little mountain village that is 20 minutes from Tegucigalpa, the country's capital.


In Santa Lucia, owners of both large and small businesses are adjusting to accept bitcoins as payment in an effort to draw in more tourists.


According to Cesar Andino, manager of Los Robles Shopping Square, "It will create more chances and attract more individuals who wish to utilize this money."


The "Bitcoin Valley" initiative aims to teach 60 firms to use bitcoins to sell their goods and services, with the intention of spreading these techniques to other businesses and surrounding communities.


The Blockchain Honduras organization, the Guatemalan cryptocurrency exchange group Coincaex, the Honduran Technological University, and the town of Santa Lucia all worked together to launch the program.


"The people of Santa Lucia will be taught to use and handle cryptocurrency, integrating them in various enterprises in the area and producing crypto-tourism," said Ruben Carbajal Velazquez, professor at the Technological University.


While several Latin American nations are investigating the possibilities of cryptocurrency, there are dangers.


El Salvador approved bitcoin as legal cash in September 2021 and established a "Bitcoin Beach" in the surfing mecca of El Zonte.


The cryptocurrency market collapse and distrust from multilateral lenders and ratings agencies hindered the Central American nation's bet on bitcoin. Its $105 million in publicly stated interests is now worth around $57 million.


The "Bitcoin Valley" in Honduras would "allow shops to receive quick payments in the local currency, removing cryptocurrency fluctuation concerns," according to Leonardo Paguada, the organization's creator. This will help with volatility.


Critics of the growth of bitcoin have cautioned that such activities might encourage money laundering and financial instability while widening the digital divide since the poorest segments of society could find it difficult to utilize the technology.