The South Pacific island of Vanuatu will issue a new digital currency ‘Volcano coin’ to promote tourism and economic development in the country, according to local newspaper Vilatimes.
The Government several months ago digital plan to accelerate the economy and development through blockchain technology and the new coin will be launched in the future..
Volcano coin (Vcoin) is set to become the universal digital payment solution for tourism, immigration, real estate, aviation, gaming in the country.
The Minister of Tourism said that Vanuatu to embrace blockchain technology to accelerate economic growth in tourism and other core industries.
Vanuatu has an active citizenship by investment program running in the country, and soon the Government may accept Volcano coin for its citizenship program.
Last year Vanuatu hit major news headlines, that it becomes the first country to accept Bitcoin for its CBI program, but the Government soon denied it. Few Agents and developers currently do accept Bitcoin for Vanuatu citizenship program.
Vanuatu recently cut prices for its citizenship program by 30% starting from $150,000.
Source/Credit: https://www.vilatimes.com/2018/06/11/vanuatu-plan-to-issue-volcano-coin-to-promote-local-tourism-and-economic-development/
