A Step Towards Mass Adoption
In Brazil, specifically in the city of Porto Alegre, an innovative project is underway to turn it into a true "Bitcoin City." The project, led by Diogo Mury and called Go BTC Brazil, aims to promote the adoption of Bitcoin as a payment method in local businesses.
How does the project work?
The Go BTC Brazil project has enabled around 60 commercial establishments in Porto Alegre to accept payments in $BTC Bitcoin. To encourage adoption, rewards in sats are offered to those who manage to convince businesses to join the initiative.
Advantages of Using Bitcoin
- Cheaper transactions: Payments made with Bitcoin can be up to 90% cheaper than those made with conventional credit or debit cards.
- Access to a select audience: By accepting Bitcoin, businesses can attract an audience interested in cryptocurrencies and increase their sales.
Other Brazilian cities adopting Bitcoin
- Rolante: Located in the state of Rio Grande do Sul, this city has adopted Bitcoin as a payment method in local commercial establishments and stands out in the global ranking.
- Jericoacoara: This tourist city in the state of Ceará has begun accepting Bitcoin as a payment option in hotels, inns, and restaurants.
- São Thomé das Letras: Another tourist city that uses Bitcoin as everyday money.
The Future of Bitcoin Adoption in Brazil
Although stablecoins dominate transaction volume in Brazil, the Go $BTC Brazil initiative demonstrates the potential of Bitcoin's circular economies in the country. As more businesses and cities follow the example of Porto Alegre, the future of Bitcoin adoption in Brazil looks promising and exciting.