Publish: 05.01.2018

First Bitcoin Cash Embassy Opens

The opening follows on the heels of what has been a tumultuous 2017 for the cryptocurrency world in general.

Coinbase and Gdax, two of the largest players in the online Bitcoin Cash and cryptocurrency world, have opened up the first ever “Bitcoin Embassy”.

A first of its kind facility, the new project is taking place in Limassol, Cyprus. It’s expected to open its doors sometime in the first part of 2018, the opening follows on the heels of what has been a tumultuous 2017 for the cryptocurrency world in general.

To Function As A “Community Center”

Despite progress, constant fluctuations in valuation are seen as a barrier to the adoption of Bitcoin Cash. One example is the recent crash that sent the value of BTC crashing down several thousands of dollars in just a single day.

In hopes of flattening out the valuations, the Bitcoin “embassy” is meant to act as an ‘open community center’ where enthusiasts can come together to discuss what’s going on in the world of crypto. Hello Group, which opened up the first ever BTC ATM, will be playing the role of mediator.

To date, there have been no specific details of what kinds of programs or forums will be hosted, but that information is expected to become available once the embassy opens its doors.

BTC Cash Main Focus

Since it’s launch and rise in popularity, the original BTC has captured the hearts, minds, and wallets of the world. Recently, the cyrpto “forked”, giving rise to Bitcoin Cash.

Competition between the two currencies has been fierce, with many enthusiasts coming down on the side of one or the other as the “better” option. Recently, respected players in the crypto world such as SBI Holdings’ Yoshitaka Kitao even gave voice to the idea that Bitcoin Cash is the ‘real’ crypto currency:

“The vision of the original Bitcoin white paper written by Satoshi Nakamoto calls for a peer-to-peer electronic cash system. That is a powerful vision, and SBI Group will devote resources to enable a future world where Bitcoin Cash is used globally for daily payments,” he said.

No doubt the controversies about crypto currency will rage for a long time even amongst enthusiasts. Between that internal controversy and the increasing encroachment of regulatory oversight by governments, the discussion to be facilitated by the new Bitcoin Embassy is expected to play a key role in navigating the challenges of the future.