8 months ago, two Salvadorians, Gerardo and Evelyn arrived in a small mountain town of 25,000 people, with a vision for how bitcoin could help the local economy.
They started started onboarding local merchants to bitcoin and paying for daily purchases on the lightning network.
At first, the local merchants thought they were being “sold” bitcoin. They politely declined, preferring to accept US dollars.
People called Gerardo and Evelyn crazy and doubted their plan could work.
But Gerardo and Evelyn were persistent. They continued onboarding merchants to bitcoin and opened a center (with the support of My First Bitcoin- Mi Primer Bitcoin) for financial and bitcoin education.
Fast forward to today, the local economy is transforming. 120 merchants now accept bitcoin and for the first time in their lives, the local people are thinking about saving for the future.
To celebrate and show what’s possible with bitcoin circular economies they hosted a mini-conference, Economía Bitcoin. As one speaker put it, when builders, local merchants and bitcoiners from all over the world gather under the same roof, the vision gets bigger.
El Salvador opened the doors to make bitcoin legal tender, but organic Bitcoin adoption happens from the bottom up. If bitcoin is ever going to reach its full potential, it must become a medium of exchange first.
The future looks bright in El Salvador.
Video link here: https://youtu.be/eJVqsgUt8-4?si=Szr4oRc_AsAX4EQV
Kyle Huber 