Summary of the Article

• Cryptocurrency players Pouch.ph and Coins.ph are hosting the first-ever Bitcoin Island Retreat in Boracay, Philippines from March 27-29 2023.
• The retreat will bring together bitcoin enthusiasts, thought leaders, investors and developers from around the world.
• Speakers at the event include Jack Lee (founder of HCM Capital), Augustus Ilag (Sequoia Capital’s Southeast Asia crypto practice) and Jiro Reyes (founder of Bitskwela).

Details of Event

Payments processor Pouch.ph and exchange Coins.ph have announced their partnership to host the country’s first-ever Bitcoin Island Retreat in Boracay from March 27-29 2023. The event is expected to bring together a host of bitcoin enthusiasts, thought leaders, investors and developers from around the world to network, discuss bitcoin and interact with key players in the industry.

Event Speakers

Ethan Rose (the founder and CEO of Pouch.ph) and Elijah Tan (the VP of operations at Coins.ph) will lead the trailblazers in the Bitcoin industry during this event. Other speakers include Jack Lee (founder of HCM Capital), Augustus Ilag (Sequoia Capital’s Southeast Asia crypto practice) and crypto educator Jiro Reyes (founder of Bitskwela).

Bitcoin Bounty

Attendees at this retreat also have a chance to win a bitcoin bounty if they can find the 12-word seed phrase to a private key owned by Dread Pirate Nakamoto which is placed around the island.

Reservations

Interested parties can visit https://pouch.ph/retreatrsvp for more information or to reserve a spot for this retreat.

• Pick n Pay, a South African retailer, has launched acceptance of bitcoin for payments throughout all of their stores.
• Customers can use CryptoQR to buy groceries, airtime and electricity, plane and bus tickets, and pay municipal bills with Bitcoin.
• The introduction of bitcoin to Pick n Pay’s stores is likely to have a significant impact on the broader bitcoin payments landscape in South Africa.

Pick n Pay Launches Bitcoin Payment Acceptance

Pick n Pay, a South African retailer, has launched acceptance of bitcoin for payments throughout all of their stores after previously running a test pilot in 39 stores in November 2022. Now customers will be able to use CryptoQR to purchase groceries from any Pick n Pay store across the country.

What Can You Buy With Bitcoin?

Customers can also use their bitcoins to purchase airtime and electricity, plane and bus tickets, and pay municipal bills at the till! There is a small service fee associated with payments made in BTC which costs the customer on average 70c (roughly $0.04) of the local currency as of November 2022.

Impact On Wider Adoption Of Bitcoin Payments

The introduction of bitcoin to Pick n Pay’s stores could bring widespread adoption of bitcoin usage by introducing new users to spending rather than selling it for usability. This could be a major step forward in the wider adoption of bitcoin payments as it could inspire other major retailers to follow suit.

Market Share In Formal Food And Grocery Sector

Pick n Pay has almost 2,000 stores across South Africa with 16% market share in the formal food and grocery sector according Business Insider South Africa report. By allowing people to spend their BTC at larger retailers like Pick n Pay line between setting aside money for bitcoin and simply utilizing it as your money is blurred.

Conclusion:

The launch of acceptance for Bitcoin payments at Pick ‘n’Pay marks an important milestone towards driving wider adoption of cryptocurrency usage across many different sectors in South Africa. It not only brings more usability but also drives greater trust by providing convenience when making transactions with digital currencies such as Bitcoin.

• Sen. Ted Cruz (TX-R) has proposed a resolution that would allow vendors within the Capitol area to accept payments in cryptocurrencies such as Bitcoin.
• Sen. Cruz is an outspoken advocate for Bitcoin, seeing it as a potential boon both on a national and state level.
• The resolution, if passed, would provide primary exposure to Capitol politicians on using BTC as a daily payment method.

Sen. Ted Cruz’s Initiative

Sen. Ted Cruz (TX-R) has proposed a resolution that would request vendors within the Capitol area to work with payments providers that accept bitcoin. The proposal specifically mentions that restaurants, gift shops and vending machines within Capitol Buildings should work with persons accepting cryptocurrencies such as bitcoin, which would allow the lawmakers of the United States to purchase their on-the-go snacks with sound money as they please.

Sen. Cruz’s Support for Bitcoin

Sen. Cruz has been an outspoken advocate for bitcoin before, saying that “One of the reasons I’m bullish on Bitcoin is because it’s decentralized.” He also sees the benefits of bitcoin mining as a potential boon for Texas, a state which has been at the forefront of the industry since China’s bitcoin mining ban and subsequent hash rate exodus in 2021.

Potential Impact of Resolution

While the move for acceptance at vendors may be perceived as inconsequential, if it passes, it could serve as the first primary exposure for Capitol politicians to using BTC as a daily payment method. Bitcoin can be an abstract concept for those who have not seen its usage in a payments setting, so small resolutions like this can possibly shift perspectives for an on-the-fence politician.

Passing Process

The resolution will need to pass both the House and Senate in order to take effect. Once approved by both chambers of Congress, this bill will become law and will require all vendors located within or near Capitol buildings to accept cryptocurrency payments from members of Congress using secure providers such as Coinbase or Bitpay.

Conclusion

In conclusion, Sen. Ted Cruz’s initiative could potentially open up new opportunities and avenues for Capitol politicians when it comes to utilizing cryptocurrency in their daily lives and expanding their understanding of digital assets beyond what is available through traditional finance institutions

Summary

• New Hampshire’s Commission On Cryptocurrencies And Digital Assets has recommended that the state review how bitcoin mining operations might be integrated into a statewide energy plan.
• Texas recently released a report recommending making bitcoin an authorized investment for the state and giving tax incentives to local BTC miners.
• Regulation is necessary to protect consumers in this market.

Background on New Hampshire’s Commission on Cryptocurrencies and Digital Assets

New Hampshire Governor Chris Sununu created the Commission via executive order back in February 2022, which in part read that “the State of New Hampshire should continue to be an active proponent of financial services innovation and should remain an excellent jurisdiction to attract the highest quality banking and financial businesses and the well-paying jobs they offered to our citizens.” The commission has since returned results that suggest the NH Department of Energy create a public review of how bitcoin mining operations might be integrated into a statewide energy plan. The commission cites “positive impacts for the electricity system, including contributing to a more stable electricity grid, more sustainable generation projects, and lower costs for consumers generally,” as reasoning for this recommendation.

Findings from Texas Work Group on Blockchain Matters

A couple of months ago, Texas released a report titled “Texas Work Group On Blockchain Matters.” Directed at members of their legislature, it recommended making bitcoin an authorized investment for the state while giving tax incentives to local BTC miners. Both reports conclude that further research into Bitcoin is necessary, and indicate that American states are increasingly considering the benefits of embracing bitcoin. Also indicated in both reports was the necessity for regulation to protect consumers.

Conclusion

States like New Hampshire and Texas could end up leading the way for Bitcoin adoption in the U.S. if they decide to follow such recommendations. It is important for Bitcoiners who have ties to state legislature or are in the Bitcoin ecosystem to advocate for continued inquiry into how states can integrate the technology, as states are often much more nimble in their ability to adopt new technologies when compared to the federal government.

“Well Regulated” Market Necessary For Consumer Protection

The New Hampshire Bureau of Securities Regulation wrote in appendix B that “A well regulated cryptocurrency market provides consumer protection, and trust in the market which is a boon to investors, general public ,and businesses alike.” What has become increasingly clear over past several years is that cryptocurrency has a role in securities regulation – thus regulation is necessary protect consumers within this market as well.

Implications Of This Report

This report suggests that American states are becoming increasingly open towards cryptocurrencies like Bitcoin with potential implications being made towards making them authorized investments with tax incentives from certain states . Furthermore , it also indicates there must be some form of regulations regarding these markets so as provide consumer protection .