In Vanuatu, a state in the South Pacific, the first transactions to acquire citizenship for bitcoins took place.
The island state of Vanuatu, located to the North-East of Australia, in 2015 fell under a devastating hurricane. The island needs serious support, so the authorities have come up with a special program related to the cryptocurrency industry.
Anyone can get the citizenship of the Islands of Vanuatu, if investing in the state's economy of about 44 bitcoins.
The program became known at the end of last year, after 6 months, the first transactions on acquisition of citizenship were successfully conducted, which were paid by bitcoins.
The head of the Information center of Vanuatu James Harris said that the island authorities decided to motivate future citizens of Vanuatu and plan to reduce the price of citizenship.
Also Vanuatu citizenship program now offers the possibility of investing in real estate. The issue of obtaining citizenship through the purchase of real estate will be considered by the government in may this year.
"We have decided to create a joint ownership program, where a quarter of the ownership share should be about 350 000 US dollars."
