Greek Cyprus to open first bitcoin cash embassy

Limassol, located in the Greek Cyprus and the second-largest city of the island after Nicosia, will open its first bitcoin cash embassy in the first half of 2018. This venue will serve as an open community center where people can talk about cryptocurrency, participate in free discussions and attend regular conferences with industry experts, according to a report from the Turkish business website Businessht. The embassy will be hosted by Hello Group, a financial technology company that launched the city's first bitcoin ATM a month ago, according to Bitcoin.com.

The Greek Cyrpus has recently attracted attention in terms of cryptocurrency. Island servers provide service as a regional offshore financial center for many companies from Europe, Russia and the Middle East that need cost-effective solutions to transfer money across borders.

Individuals are more prone than others to see the benefits of cryptocurrency, especially with the memory of the 2013 EU bail-in crisis still fresh. As evidence for this, the University of Nicosia, located on the Greek border of the Nicosia, became the world's first academic institution to offer a master's degree in the field of digital currency.

While the recent increase in transfer costs and other problems in bitcoin have come to the fore, it seems that interest in bitcoin cash has increased. Many proponents also think bitcoin cash is more faithful to the idea of cryptocurrency. "The vision of the original bitcoin, written by Satoshi Nakamoto, requires a peer-to-peer electronic cash system," Yoshitaka Kitao, the president and CEO of the Japanese financial giant SBI Holdings, said in a recent statement. "This is a powerful vision, and the SBI Group plans to allocate funds to support the future world in which Bitcoin Cash is globally used for daily payments."
Source Daily Sabah