Sunday, October 2

Ecuador community works with Bitcoin as local currency


A community of around 40 families in Ecuador started working with Bitcoin as their local currency. This new experiment is based on the movement called Bitcoin Beach.

In El Salvador, the Bitcoin Beach experiment is named as the birthplace of the country’s digital currency adoption movement. In September 2021, the local government approved Bitcoin as legal tender, making it a conventional means of payment.

However, Bitcoin Beach was a movement started in 2019 that was totally out of touch with the government, creating a Bitcoin user base on a remote beach across the country called El Zonte. This small movement of residents caused extreme repercussions and now serves as an inspiration around the world.

“Bitcoin Beach” in Ecuador is started by a community of around 40 families

As governments rush to curb Bitcoin’s advances around the world, with bills and national digital currencies, called CBDCs, people are beginning to understand the power of decentralized currency.

Inspired by El Salvador, the community of Píntag Amaru Movement began accepting Bitcoin as a means of payment in Ecuador, making it a local currency for 40 families.

Aware of Bitcoin’s potential, one of the community’s residents is Mauricio Rubio, who presented this to the portal CryptoNews. According to Mauricio, the community produces its own food and was already self-sustainable in this regard.

“EL ZONTE IS ALSO ONE OF THESE FORGOTTEN COMMUNITIES. I SAW THAT THROUGH BITCOIN […] THEY BEGAN TO DEVELOP SOCIAL PROGRAMS TO HELP THE COMMUNITY. THEREFORE, MY PURPOSE IS SOMETHING SIMILAR. WE ARE WORKING WITH BITCOIN, WE WANT TO EDUCATE OURSELVES MORE, FINANCIALLY, ECONOMICALLY. BUT ABOVE ALL TO IMPROVE EDUCATIONALLY, BECAUSE IN BITCOIN THE KEY IS EDUCATION.”

Even so, part of the efforts sought for the future are to improve the local economy and finances, with El Zonte being an inspiration then. Rubio remembers that the first wallet created by the community was when Bitcoin cost US$ 30,000, with everyone following attentively to the market movement.

Bitcoin Beach projects popping up in various places

Despite the Bitcoin Beach project having emerged on a beach, the idea travels the world now as an ideal of freedom for their governments’ communities, seeking to improve the living conditions of people regardless of what politicians say.

In Brazil, Bitcoin Beach also started on a beach in Ceará, a paradise sought after by tourists and which sees more and more people and local companies accepting this currency.

In South Africa, in the municipality of Mossel Bay, the Bitcoin Ekasi movement appears, yet another one inspired by El Salvador. What draws attention in all this is that the movement started in El Salvador is following everything that happens around the world and even supporting it, with Bitcoin Ekasi receiving, this Thursday (23), 2.1 million satoshis to start improving the adoption of the currency.

It is worth remembering that the adoption of Bitcoin has grown not only in communities forgotten by governments, but also in large urban centers, with more companies using this option as a means of payment for customers. Thus, the year 2021 remains one of the most important for the long-awaited mass adoption of Bitcoin, expected by fans of the currency.





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