Torrevieja on the way to a digital future
The Department of Commerce of the city of Torrevieja, a famous tourist center in the Spanish province of Alicante, together with the local Association of Small and Medium-sized Enterprises (APYMECO) announced an ambitious project for the digital transformation of the city. The project aims to transform Torrevieja into the "first crypto-friendly city in Europe" and will be implemented in three stages:
- Digitalization of local trade: It is planned to stimulate the digitalization of trade operations by encouraging the use of blockchain technologies and cryptocurrencies to pay for goods and services.
- Environmental initiatives: Implementation of blockchain solutions for sustainable development and restoration of natural areas.
- Increasing employment and business support: Developing employment opportunities and business promotion, reducing unemployment and training local blockchain specialists.
Rosario Martinez Chazarra, a representative of the Department of Commerce, expressed confidence that the initiative will attract more merchants to the city and make it more attractive to buyers. The University of Alicante plans to launch courses on digital payments for local entrepreneurs.
Spanish legislation and cryptocurrencies
The president of APYMECO, Jorge Almarcha, stressed that despite the fact that digital assets have been allowed in Spain since 2015, no city has yet introduced cryptocurrencies into its economy. He called on local merchants to register to participate in the first stage of the transformation on the official APYMECO website.
Torrevieja in the Context of European Crypto Projects
Although Spain is supportive of the crypto industry, digital assets are not legal tender in the country, and citizens are required to declare them and pay income taxes. It is worth noting that Torrevieja is not the only city with such ambitions: Lugano in Switzerland, Rovereto in Italy and Madeira in Portugal are also developing crypto-friendly initiatives.