Tonga Island receives Bitcoin donation after volcanic attack
Tonga Island receives Bitcoin donation after volcanic attack
- The tiny island kingdom of Tonga received over $ 40,000 of Bitcoin donations after a volcano and a tsunami on Friday.
- The former Tongaic legislator previously spoke of setting geothermal Bitcoin mining centers in the country, in addition to the acceptance of the crypto asset as a legal means of payment.
The little-known Pacific island state Tonga is affected by an underwater volcanic eruption and the resulting tsunami, which began on Friday. The outbreak occurred on the Hunga Tonga-Hunga Ha’apai volcano and is said to have literally spread shock waves around half the world.
Since what the government describes as "unprecedented catastrophe", various recovery and aid measures have been launched and implemented. Among them is a Tonga aid fund based on Bitcoin, which was set up by the former Tongaic legislator and Bitcoin supporter Lord Fusitu’a. The fund was founded after crypto owner expressed their sympathy and intention to donate Bitcoin to help with aid campaigns. Dozens of people shared the call of the politician for crypto donations to the country's BTC wallet. Within three days after the live long, 250 separate Bitcoin (BTC) donations were made, which led to over $ 40,000.
The development program of the United Nations (UNDP) now works with other UN organizations and partners to support Tonga in the middle of the emerging crisis. Priorities are communication, logistics, water and sanitary facilities.
tonga views Bitcoin as a legal means of payment
It is noteworthy that Lord Fusitu’a spoke about various options, as the Kingdom of Tonga Bitcoin could take, whereby he was strongly inspired by El Salvador's brave steps when it comes to crypto. One of them builds Bitcoin mining systems that are operated with geothermal energy from Tongas volcanoes, just like in El Salvador. According to Lord, the country has 21 volcanoes, each producing 95,000 megawatts full -time. A single volcano could therefore generate Bitcoin worth $ 2,000 daily that would be given.
The second suggestion that could write history when he said goodbye is to make Bitcoin a legal means of payment in the country. A parliamentary coordination of this is scheduled to take place in May. El Salvador is currently the only country that has such pioneering legislation. In a thread from tweets, Lord Fusitu’a says that this could happen in November or December of this year. According to Lord Fusitu’a, the introduction of Bitcoin into the Tongan Financial system could significantly support the transfers. Gelder from abroad make up 38 percent and 41.1 percent of the country's GDP. He also supported BTC as an inflation protection for his country and other economically battered countries. related: Ethereum founder criticizes El Salvador to have forced companies to accept Bitcoin (BTC)
Source: Crypto-news-flash.com