Tuesday, 11 August 2020

Grocery Shopping in the Caribbean and Paying With… Bitcoin?

A supermarket in Willemstad, Curaçao has taken the step of becoming the first supermarket on the island to accept Bitcoin. Bitsonline visited the establishment to find out more… and of course do some grocery shopping.

Grocery Shopping With Bitcoin?

Many of the people who own cryptocurrency typically limit themselves to using their cryptocurrency as a means of storing value, or trading it as a way to make money.

In other words, they usually do not “spend” their bitcoins in purchasing products, or use their cryptocurrency as an alternative to fiat currency.

This is actually quite ironic given that Bitcoin was created as a peer-to-peer electronic cash system, and an alternative to fiat currencies issued and controlled by governments.

Beyond that, for bitcoin and cryptocurrency to truly become mainstream, there has to be wider usage of it as it needs to become a viable alternative to the “money” options that already exist.

Bitsonline recently visited the island of Curaçao to learn more about the growing use of bitcoin across the island, and met with many of the people who are leading a move to grow the widespread adoption of bitcoin and other cryptocurrencies across the island.

More Businesses Accepting Bitcoin in Curaçao

A number of groups are helping businesses learn about and start accepting bitcoin around Curaçao. These efforts are yielding results and the number of establishments accepting bitcoin is growing. Additionally, numerous cryptocurrency meetups and other networking opportunities are popping up, and locals are becoming more comfortable using bitcoin, with businesses reporting a rising number of transactions being conducted by paying with bitcoin for products and services.

We visited one such establishment, Esperamos Supermarket, which has been an institution in Willemstad for well over thirty years.

During his visit, we did some grocery shopping and paid for our purchases using bitcoin. We then met with Ricardo De Freitas, managing director for Esperamos, who shared his experiences adding bitcoin as a payment option for Esperamos, and the kind of transparency and control he has over payments received in bitcoin.

In the process, Ricardo shared his views on cryptocurrency, blockchain and his plans for taking Esperamos into the future.

source: bitsonline.com 
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