It is very rare to see a leader endorsing crypto projects like El Salvador’s Nayib Bukele. However, the Honorable Bob Loughman, the prime minister of South Pacific Ocean nation Vanuatu has joined the crypto proponent list by giving a green signal to Satoshi Island.
Satoshi Island, a crypto utopia megaproject in the South Pacific, just revealed its vision, progress, and readiness. Vanuatu’s prime minister has given his support to “watching the development of Satoshi Island unfold,” following news that the country has received 50,000 citizenship NFT applications. The team at Satoshi Island welcomed the news by stating:
“With this full endorsement from the prime minister of Vanuatu in hand, we can show everyone that Satoshi Island is as real as it gets, and the kind words of the PM inviting our community to their home could not be a warmer welcome.”
The team said that people should “be very selective with the location and ensure it [is] logistically, environmentally and legally possible.”
The COVID-19 epidemic “seriously affected” the tourism sector, which contributed 34.7% of total GDP in Vanuatu in 2019. As per data by the World Bank, visitor numbers to the idyllic archipelago 2,000 kilometers (1,243 miles) south of Brisbane fell from around 300,000 in 2010 to around 80,000 in 2020.
This is not the first time a country is using crypto for attracting tourists. Before this, Thailand had taken several steps to bring its own utility token for foreigners. The Tourism of Thailand governor even said that crypto is the future.
El Salvador president and Bitcoin proponent, Nayib Bukele has also announced the construction of a Bitcoin city with zero-carbon-emission, aiming to attract more people. He also announced recently that the government is planning to give citizenship to those who invest in the nation. El Salvador reported a 30% rise in its tourism industry since declaration of Bitcoin as a legal tender.
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