The first reported bitcoin transactions between the US and Cuba mark the latest innovation brought to the island's complicated economy, as the two countries normalize relations.
Fernando Villar, the Cuban-American founder of a group called BitcoinCuba, told Crypto-Currency News that he made the transaction this week using public wi-fi networks that Cuba's socialist government has started installing in public parks.
"The future for Bitcoin in Cuba is promising, but it's going to take some time and effort," Villar told CCN. "Cubans are only now being connected through public Wi-Fi, which is somewhat cost prohibitive at $2 an hour, with the average Cuban salary about $20 a month. ... [but] it's only a matter of time before they also start receiving money through those networks."