The mayor of Panama City, Mayer Mizrachi, put forward an unusual plan at the Bitcoin 2025 conference in Las Vegas on 29 May. He suggested that cargo ships could accelerate their transit through the Panama Canal if they paid if they paid if they paid if they paid if they paid if they paid if they paid if they paid if they paid if they paid if they paid if they paid if they paid. Bitcoin. It was a short comment, but it caused a flurry of questions about how it could work in practice.
Bitcoin payments for priority passage
According to reports from the panel, Mizrachi spoke next to El Salvador’s Bitcoin policy Leaders, Max Keizer and Stacy Herbert. He said that ships could “cut the border” by paying tolls in Bitcoin.
He offered the idea as a way to reward Early Adopters. It was presented in an informal tone, but it became a serious subject: how quickly payments could be adjusted to a long -term shipping process.
Ships can pay Panama Canal Transit costs in Bitcoin
The mayor of Panama City, Mayer Mizrachi, said he is investigating Bitcoin payment options for ships that pass Panamakanals.
“What if you have an advantage to pay in Bitcoin?” Mizrachi mused. “You would go faster.”
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Questions about reimbursements and honesty
Based on what was discussed, the current rule of the channel comes first, first grinds. That would change, would approve the Panama Canal Authority and the national government of Panama.
Shipping companies can reduce if they feel that smaller carriers are priced. The American President Donald Trump weighed at the end of last year, with the argument that American ships had to do with “unfair toll” and hints towards recovering the channel in December 2024. That episode showed how sensitive channel changes can be.
To handle a $ 5 billion company
According to the Panama Canal website, De Waterweg yielded around $ 5 billion between October 2023 and September 2024. Almost 10,000 ships have continued, with around 423 million tonnes of goods. That is about 5% of the global maritime trade.
If Bitcoin payments were allowed, the authority would need a plan to deal with price fluctuations. The cash register of one day can be 50 BTC, the next day can jump to 60 BTC. Panama would probably need a quick exchange system to convert BTC into dollars or other stable currencies.
An urge to crypto at city level
Mizrachi has also supported people to pay city costs – taxes, fines and permits – in Bitcoin, Ether and USDC. He increased the idea of a Bitcoin reserve for Panama City, which produces more than half of the GDP of the nation.
He noted that he would no longer need laws to start one. But real steps will depend on legislators and officials at national level. For now it remains a mayor proposal instead of a binding plan.
Mizrachi claimed that more than $ 5 billion in Bitcoin transactions takes place in Panama every year, although much of it is “behind closed doors,” he said.
Featured image of Pexels, Graph of TradingView