The ancient days in Salvadore El Zonte have become a lively zone of operations with bitcoins, since its inhabitants not only buy and sell BTC, but they also use it.
Most local residents are not provided with banking services, do not count as cash services, and use bitcoin for transactions, which makes Bitcoin a possible beach-front service. This initiative aims to create a sustainable bitcoin eco-system.
The cryptocurrency is used for the purchase of foodstuffs, payment of communal services, repair of water supply systems and roads. Grants for education are also issued in bitcoins, by the way, travel by bus and lunch are paid by the main cryptocurrency, according to Forbes.
The current crisis due to COVID-19 has deprived many people of their daily work, in connection with this, the most needy families will receive help in BTC. About 600 families will receive $ 35 every three weeks, which will allow you to cover the main needs of your household.
As for each bitcoin transaction, a commission is charged, which turns out to be fairly expensive with small purchases, in the old days they use the supplement. It simplifies and simplifies transactions through the Lightning network. The Lightning Network works over the bitcoin blockchain by combining small transactions and placing them blockchain in a single package. In this way, a separate user will avoid large commissions.
The idea of an economy based on bitcoins showed up after that, as Peterson received an anonymous sacrifice in bitcoins to help the inhabitants of El Zone. Most of them were unable to open a bank account because they did not meet the requirements of financial organizations.
The transition to the bitcoin economy did not pass without problems, since it was difficult for older people to learn new technologies. First of all, we started to teach young people who quickly learned the mechanisms of cryptocurrency payments. For this moment, the Government of the Salvadop is not included in the Bitcoin Beach project.