An interesting say about Bitcoin is that it has been in the making for nearly 50 years.  Bitcoin (BTC), an enthusiast states, was born out of the last financial crisis, and it is being used to help the unbanked and the most vulnerable to get through the current one. 

El Salvador is known as the Bitcoin Beach as Bitcoin Payments are a standard here.

For those who think the Bitcoin is for only the mighty with discretionary income, here is how it works for local businesses selling, accepting Bitcoin transfers.

Bitcoin Beach tweeted:  “.5 BTC distributed today. More than 5 Bitcoin have been distributed in last month. Local stores are able to stay in business selling to the 350 families that are receiving Bitcoin transfers. #unbanked no more.”

Sydney Ifergan, the crypto expert, tweeted, “It is good to see Bitcoin (BTC) changing the lives of the unbanked in El Salvador. This proves Bitcoin can work for everyday needs, real-time during a crisis.”

It is interesting because the local economy in the Bitcoin Beach project in the village of El Zonte Beach leverage the Lightning Network to use Bitcoin for their everyday lives.  The locals have validated the use of Bitcoin by using BTC to pay for everything ranging from haircuts through weekly groceries.

Bitcoin (BTC) Used in Bitcoin Beach Project

The Bitcoin Beach project was started in 2019. 

Michael Peterson, Bitcoin Beach founder, explained: “Our project has set out to slowly grow a Bitcoin ecosystem in El Salvador in a way that truly improves lives. For the past six months, we have been using Bitcoin in the coastal village of El Zonte through a number of initiatives that all involve using BTC in real transactional ways.”

Phase 1 of the project started off by incorporating BTC into the local community.  This started off by the donation of an anonymous Bitcoin adopter who wanted to prove the kind of impact Bitcoin can provide in the lives of the people the society ignores. The project also ensured some of the local businessmen accepted it. 

The Bitcoin Beach project has slowly created a Bitcoin Ecosystem in El Salvador, and it has truly improved the lives of the unbanked. Ever since thousands of millions of Satoshis have been injected into the community in different ways, and now they are using it as an everyday thing.  Bitcoin ATMs in El Salvador!