Topic: [2016-01-26]South Pacific plantation hopes bitcoin investment option bears fruit (Read 317 times)

You wouldn’t immediately match an ultra-modern crypto currency with farmland investment in one of the smallest nations in the world, but tiny Vanuatu is blazing a trail for the use of bitcoin.

South Pacific Plantation Management Limited, a business in Efate Island, Vanuatu, has started to accept bitcoin for one acre farm-lets on Malekula, a South Pacific island which is part of the Republic of Vanuatu. For those paying in dollars, each let costs $19,950.

The business, which is working with CoinJar, an Australian bitcoin payments provider, believes the move will bear fruit by boosting overseas investment in the plots, which can be used to grow and sell papaya.

Richard Butler, Project Manager for South Pacific Plantation Management Limited, tells OPP.Today, “I am a strong advocate of innovative technology. Myself and the directors of the company embrace exciting and new ideas readily.

“It seems fitting that people now start embracing the new currency. With the recent South Pacific International Communications cable link providing 4G to one of the world’s smallest nations and by accepting the bitcoin economy, overseas transactions will be easier to facilitate.”

“With stock markets wobbling worldwide, a plan B for capital security is of real concern. Without doubt in the back of all minds in January 2016 is where is that safe haven?

“During the 2008 Leman Brothers crash, or as we call it in the South Pacific, the GFC (Great Financial Crisis) enormous amounts of cash were withdrawn from banks and we all remember recently the lines of frustrated withdrawal customers outside Cyprus banks.”

Bitcoin offers the out-of-box thinker a perceived safe haven free of central bank involvement in transfer fees, Mr Butler says. ”Last week, an ex-Russian breakaway country imposed a 20% tax on all outbound international currency movement from its borders.

“Investing in food producing farmland in the tax-friendly nation of the Republic of Vanuatu with our cluster concept in agriculture Malekula farm lets offers an investment that is out of reach from being diminished by most currency meltdowns and loss of value by state and local government seizure and also provides a cash return.


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