The Bitcoin Beach project in Jericoacara, which aims to create a “bitcoiner” city in Brazil, is teaching elementary school children how to use cryptocurrencies. The lessons about Bitcoin take place in between regular classes. Children studying in public elementary schools in the city receive instruction on how BTC works and how it is used for payments.
In addition, the students make small purchases using a Lightning Network-enabled debit card.
“We are faster than Visa or Mastercard and the kids love it,” said Fernando Motolese, founder of the project.
According to the project’s creators, companies in the region are already incorporating Bitcoin as payment. Motolese points out that the idea of Bitcoin Beach is to promote the growth of cryptocurrency in the city through the concept of circular economy.
In this concept, the community receives incentives to use cryptocurrency in local commerce, paying for goods and services and boosting the region’s economy. In other words, the plan of the project is to get rid, in its entirety, of the use of fiat currency.
“The circular economy proposal should explore the system using its tools and laws to provide real freedom and reduced dependency. Over the years, you will reduce your level of dependency and become a sovereign individual,” the project highlights.
However, there are still several disadvantages to paying with Bitcoin. One of them, for example, is the difference in BTC prices recorded by different platforms.
“For this reason, users may pay with the wrong value or with a giant spread, sometimes 5% or 10%,” the publication says.
In light of this, the group continues to look for technological alternatives that will help them create the best Bitcoin-based community bank. According to the group, “adoption takes time and several store visits, but it’s happening!”