In our latest vlog from Boracay, the island celebrated as a Bitcoin haven, we discover the complex truth behind its Bitcoin adoption. Initially, over 250 merchants were on board to accept Bitcoin, painting a picture of a thriving bitcoin ecosystem. However, our further exploration reveals a shift in sentiment. A revisit to a store where we smoothly transacted in Bitcoin shows a change in attitude just a week later, reflecting a broader trend across the island.

Despite the presence of "Bitcoin accepted here" signs, many stores no longer honor this commitment. Our attempt to pay for a haircut in Bitcoin is met with refusal, signaling a growing reluctance among local businesses. Pouch, the app facilitating Bitcoin transactions on Boracay, once heavily promoted the adoption with a visible office and widespread merchant onboarding. Yet, the closure of their prominent office raises questions about the sustainability of their efforts.

We seek insights from Ethan Rose, CEO of Pouch, to understand the challenges faced. Our findings across different communities have consistently shown that education is key to adoption—a component that Boracay seems to have missed. This is evident as many locals, despite the island's year-long Bitcoin project, remain unfamiliar with Bitcoin, with some even confusing it for a credit card.

Our journey through Boracay highlights the realities of building a Bitcoin community and the critical need for foundational education about digital currency. While Bitcoin Island may not have fully lived up to its promise, Boracay's beauty and appeal for Bitcoin enthusiasts endure.

Stay with us for more discoveries on Boracay, where we'll immerse ourselves in the local culture and continue to explore the island's potential for Bitcoin travelers.

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This exploration is brought to life through our collaboration with Lugano Plan B, an initiative dedicated to establishing Lugano as the Bitcoin hub of Europe and a pioneering force in the global landscape. Lugano Plan B’s endeavors, including hosting influential forums and nurturing startup hubs, exemplify the potential of Bitcoin to revolutionize both local economies and international finance. Our journey through Istanbul gains an added layer of insight from this partnership, showcasing what can happen when a city embraces the transformative power of Bitcoin, as Lugano aspires to do.

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