AirBitz Targeting Bitcoin In Cuba

AirBitz Targeting Bitcoin In Cuba
Posted by fran strajnar on 10 September 2015

Washington D.C. and Cuba have been relaxing relations in recent months,
restoring diplomatic relations after five decades.

"On April 11, 2015, Presidents Barack Obama and Raul Castro shook hands
at the Summit of the Americas in Panama, marking the first meeting
between a U.S. and Cuban head of state since the two countries severed
their ties in 1961. The meeting came four months after the presidents
announced their countries would restore ties."

- Council on Foreign Relations

The US embargo, a lack of funding, tight government restrictions, and
high costs are among the reasons that internet adoption in Cuba has been
slow. Now Cuban's are being connected to the internet via State run
public Wi-Fi.

The first free Wi-Fi spot emerged in March, and there are now 35. Up
until then it could cost from $2 to $4.50 for an hour of internet, while
the average income in Cuba is $20 per month.

The newly accessible public Wi-Fi has opened up opportunities for
bitcoin service providers. In August, the first documented bitcoin
transaction took place in Cuba, Fernando Villar of BitcoinCuba hopes
this will draw attention from the global Bitcoin community.

This first documented transaction used the Airbitz wallet, "Cuba has
been one of the most isolated countries in the world for more than half
a century. Despite having trade relations with many developed nations,
the US embargo has stifled its growth, relegated it to a bygone era of
technology, and discouraged global markets from bringing Cuba into the
fold," stated Airbitz.

"The Airbitz mobile Bitcoin wallet is a decentralized, secure, and
backed up Bitcoin wallet that provides true financial autonomy & privacy
for users. Neither Airbitz nor any 3rd party can access users' funds or
data within the Airbitz wallet. A clean, user-first interface solves
many of the usability issues plaguing current wallet solutions…"

- Airbitz

Airbitz recently announced they will be giving away free bitcoin to
anyone who creates an Airbitz wallet in Cuba. "We understand that it is
hard to start from zero, so we want to make sure Cubans who want to
explore Bitcoin can start with a little more," said Airbitz.

The offer is for 10mBTC per person, up to 10 BTC in total. "We hope this
is meaningful to at least a handful of Cubans, and we really hope that
our community is grown and further diversified as a result!" states Airbitz.

Source: AirBitz Targeting Bitcoin In Cuba » Brave New Coin -
http://bravenewcoin.com/news/airbitzs-targeting-bitcoin-in-cuba/