Nation of Vanuatu Embraces Bitcoin Payments for Farmland

Lots of people all over the world are keeping a close eye on Bitcoin, and some of them are even making a strategic investment in the popular digital currency. When the world of agriculture and Bitcoin collide, interesting things are bound to happen sooner or later. Especially when the nation of Vanuatu is gambling on their Bitcoin investment paying dividends in due time.

Also read: Bitpay & Microsoft are Adding Full Nodes to the Bitcoin Network

South Pacific Plantation Mgmt Ltd Goes Bitcoin

Finding an investment opportunity with a chance of paying dividends in the future is not an easy task in this day and age. Traditional finance is seeing a lot of volatile action, and stock markets are losing ground on a daily basis. For investors, there is no better time than now to look at alternative options, such as Bitcoin and other digital currencies.

South Pacific Plantation Management Ltd. had the same idea, by the look of things. Most people will have never heard of this company before, which is only normal, as they are operating in the national of Vanuatu. As one would come to expect from such a small place, agriculture is still big business over there, and Bitcoin could be the perfect fit.

The way their investment strategy works is as follows: South Pacific Plantation will accept Bitcoin for farmlets they are selling. Each of these farmlets is located on the Isle of Malekula, and part of the Republic of Vanuatu. Keeping in mind how these one-acre plots of land sell for $19,950 USD, accepting Bitcoin as a form of payment is a large investment on their part.

Thanks to a relationship with Australian Bitcoin payment provider CoinJar, South Pacific Plantation Management Ltd. can accept digital currency payments without friction or hassle. However, it remains unclear as to whether or not the company plans to convert the Bitcoin transactions to local fiat currency, and if so, in what capacity that would occur percentage-wise.

South Pacific Plantation Management Ltd Project Manager Richard Butler explained the decision to accept Bitcoin payments:

We at Malekula farms via accepting bitcoin, look to attract and do attract the tech-savvy centric generation of investors and at the same time by accepting bitcoin transfer a portion of our farmland real estate, an existing wealth asset into an accepted and unrestrained international currency vehicle for exactly the same reasons.

4G Connectivity in Vanuatu can Boost Bitcoin Adoption

Unlike what most people might assume about this tiny nation in Oceania, there is proper 4G Internet connectivity available to all residents. Even though the infrastructure was only upgraded recently – thanks to a South Pacific International Communications cable link – this creates a perfect opportunity for companies to experiment with Bitcoin.

The popular digital currency offers financial services to consumers with Internet access, enabling them to leapfrog traditional financial services regardless of existing banking infrastructure. As Bitcoin operates outside of the realm of finance as most people know it, nations like Vanuatu can prosper by embracing the popular digital currency at this opportune time.

Butler adds:

Cash is king in a wobbling world. Most of our Malekula farm let purchasers have broken through the imposed glass walls of capital control from their current resident countries and are in search of first worldwide security and a real estate investment with land title provides that requirement, coupled with the ever-increasing world demand for food / fresh produce , so then using their bitcoin to secure an agriculture investment returning cash, provides that ATM-like safe haven.

By accepting Bitcoin, Vanuatu opens itself up to international investors from all over the world. A bitcoin in Vanuatu is the same bitcoin in the US, Asia, or Europe, creating endless possibilities for investors and businesses alike. By purchasing a farmlet, interested parties can earn dividends from selling the locally grown fruit on the Australian mainland. So far, the projected returns range from $6,000 to $12,000 USD per year.

Future plans for Bitcoin in Vanuatu include hiring close to 100 farm workers for these plots on Malekula Island. All of these workers will be able to enjoy the benefits of employment and income. In fact, some of them might even be paid out in Bitcoin, if the digital currency can gain a foothold in the region. Plus, investors can donate a percentage of their earnings to these workers, helping to improve their lifestyle and setting up an education fund for their children.

What are your thoughts on this decision by South Pacific Plantation Management Ltd.? Will Bitcoin take off in Vanuatu? Let us know in the comments below!

Source: Opp Today

Images courtesy of South Pacific Plantation, Shutterstock

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