Hawaii seems to like Bitcoin a lot, or at least that’s what Google Trends claims. By analyzing the searches conducted on the main search engines in the United States, it can be found that the term Bitcoin is particularly widespread in the archipelago. To be sure, this is the most active state in the past few days and topped the list of the most active last week, with most of the research being conducted in Nevada, California and New York.
Bitcoin in Hawaii
Hawaii may be particularly interested in Bitcoin because this is where an experiment called the Digital Currency Innovation Laboratory (DCIL) is underway. The aim is to observe the development of the cryptocurrency field and its scope of innovation. The plan will run for two years, during which participating exchanges will need to provide data and reports to help understand how to legalize the sector. The scope of the project is very broad, involving some important players in the crypto field, such as Gemini, Robinhood and Novi, or the wallet that will host the Facebook Libra cryptocurrency.
The crypto evolution of Hawaii
The fact that Hawaii is giving a lot of space to cryptocurrencies shows how much the industry’s approach has changed. In fact, the state practically enacted a ban on Bitcoin in 2017 to prevent individuals and companies based in the archipelago from using BTC. After three years, the tide appears to have been completely reversed. In January 2020, Hawaii passed a law that allows banks to offer cryptographic services for safekeeping. The Digital Currency Innovation Lab project was launched in March and was actually put into operation in August.
In less than two years, it will become clear whether Hawaii could be the first U.S. state to be classified as crypto-compatible. Of course, Hawaii can be an exception, considering the SEC, CFTC, and OCC appear to hold an ambiguous stance. On the one hand, some instruments such as Bitcoin ETFs are continually rejected by the SEC. On the other hand, there are many openings in stablecoins, particularly from SEC and OCC, possibly due to their lower volatility. Certainly the national authorities of the United States will not be able to ignore what will happen in Hawaii. The state can become a reference for the future regulation of the sector.
How to go to Hawaii with Bitcoin
Speaking of Hawaii and Bitcoin, Hawaii is a dream destination. Well, you can also go on vacation by paying in Bitcoins. There are platforms that allow you to book flights and hotels, paying in cryptocurrencies. Too bad it is difficult to travel at the moment, but it can be a project to put into practice when Covid is left behind. Bitcoin in Hawaii are really useful and Hawaii is the right place to spend or buy them according to your needs.
Hawaii is a land of experiments for Bitcoin
The great interest in Bitcoin in Hawaii could be due to the fact that an experiment is underway here that will serve to extend the new regulations for cryptocurrencies. Under the Digital Currency Innovation Lab, 21 exchanges will be able to operate without an encryption license. Among the best known companies are Gemini, Novi, BlockFi and RobinHood.
After two years of testing, the authorities will draw conclusions. This experiment could be a prerequisite for crypto-regulation in the US, which is already quite rigid, and now grappling with a new government that will have to decide whether to continue with the Trump era, or whether it will be less rigid. The fact that Janet Yellen is at the Treasury, extremely critical of Bitcoin and cryptocurrencies, does not leave us calm.
In what geographical position they are located
Before leaving and buying Bitcoins in Hawaii obviously you need to know some basic things about Hawaii that I will list below:
The volcanic archipelago of Hawaii is located in the central Pacific Ocean, at the height of the tropics, and is about 4,000 kilometers from the American coast (California) and the same from Tahiti. If you look at the United States of America on a world map and look to the left – that is, to the west – at sea, you will find Hawaii in the heart of the Pacific Ocean, at the height of Mexico.
What’s the weather
Tropical, of course, with little temperature variations throughout the year. Find out more about the weather and tips on when to go to Hawaii here.
Which islands the archipelago consists of
The main islands are eight: Oahu, Maui, Hawaii (also called The Big Island, not to confuse the state as a whole), Kauai, Lanai, Niihau, Molokai, Kahoolawe. Many smaller islets and atolls are also part of Hawaii. Each island is like a world of its own, offering an astonishing variety of landscapes, colors, climates and attractions.
What language is spoken in Hawaii?
There are two official languages of Hawaii; English and Hawaiian. The Hawaiian language is spoken exclusively in Hawaii and is part of the Polynesian languages; Samoa, Tonga, Tahiti and Maori also belong to the same family.
We all know at least one word in the Hawaiian language: aloha, greeting, which means “love”, “treasure”, “peace”. This term expresses well the spirit of the Hawaiians, good-hearted people who love to live in contact with nature and who recognize the divine spirit in people and their surroundings.
Almost extinct in the early 20th century, the Hawaiian language has been revived since the 1970s. Today it is taught in schools and there are also many courses for adults, although Hawaiian is not used much in everyday life: the exception is the island of Niihau, where it is still communicated in the native language. Curiously, the factor that favors the survival of the original language is the spread of Hawaiian music!
