After a Bitcoin City, this Bitcoin Township is Becoming the New Tourist Attraction
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Bitcoin is advancing the growth of this South African township by empowering its citizens

El Salvador was the first nation to recognize Bitcoin as a legal tender and eventually initiated the plan to build an entire city based on the flagship cryptocurrency, Bitcoin. El Salvadorean President, NayibBukele, made it quite clear that Bitcoin’s adoption was mainly to promote banking and financial services for the marginalized sections of society. The country’s adoption of a cryptocurrency as a legal tender might be debatable since it adversely hampered the financial and economic markets in the country, but the idea of a Bitcoin city surely established itself as a major selling point. El Salvador’s ‘Bitcoin City’ was supposed to be located along the Gulf of Fonseca near a volcano.

Now, another Bitcoin township is making rounds on the internet and establishing itself as another major selling point for Bitcoin. This township also possesses a Bitcoin beach. The idea behind this initiative is proactively revolving around the Bitcoin economy to aid its plummeting market value. The project is conducted in marginalized societies like El Zonte in El Salvador for the Bitcoin City, and Mossel Bay in South Africa, for the Bitcoin Ekasi project. The undertakers of this initiative aim to work on promoting mass adoption of the cryptocurrency and also prove that BTC can be effectively used for everyday purposes.

 

Bitcoin Uplifts the Marginalized Sections of the Society

Bitcoin Ekasi is basically an extension of The Surfer Kids, a non-profit organization, founded in 2010. The organization is entirely donation-based and works to create youth empowerment in an impoverished South African township. Quite similar to the goal behind creating a Bitcoin City, the Bitcoin Ekasi initiative aims to use a well-established community platform, like The Surfer Kids to create a Bitcoin economy in the township that the NPO already serves.

The existing program ‘The Surfer Kids’ operates almost 5 days a week and is run by coaches from the same township community. Bitcoin Ekasi will pay these coaches’ salaries with Bitcoin, while onboarding township vendors to accept BTC tokens as payments. This will enable the coaches to spend their SATs buying groceries in the township and introducing Bitcoin in local areas. These transactions will be undertaken over the Lightning Network, BTC’s layer-two scaling solution, which aims to expand the range of transactions over the BTC network on a global scale.

 

Can Bitcoin Aid this South African Township’s Economy?

Experts say that this initiative is already working. Bitcoin is already an accepted mode of payment in some of the major luxury brands in the world. Accepting Bitcoin will not only help individuals earn financial value and a means to access money, but it will also provide them with the means to send money globally without paying hefty commission amounts and undergoing rigorous traditional banking procedures. The establishment of a new Bitcoin township will aid this process and eventually become a household currency for people all over the world.