Experience the Power of Bitcoin: Join Bitcoin Lake Today!

28. März 2023 Von admin Aus

• Bitcoin Lake is a non-profit project located in Panajachel, Guatemala that aims to create a circular economy powered by Bitcoin.
• The project has onboarded more than 60 merchants, 90% of which are unbanked and solely accept cash and bitcoin.
• Education projects have been an outstanding success, with Centro Educativo Josué being the first school to receive the “Mi Primer Bitcoin” course.

Introduction

Bitcoin is a disruptive technology that has emerged as a fundamental component of the financial industry. My work at Bitcoin-friendly companies has allowed me to observe how it is transforming the industry. I decided to join a non-profit project, Bitcoin Lake, located in Panajachel, Guatemala to contribute more to this cause.

Impact on the Local Community

Approximately 60% of the adult population in Guatemala doesn’t have access to formal financial services and thus, Bitcoin Lake’s initiative to onboard merchants has had a significant impact on the local community. So far, they have successfully onboarded more than 60 merchants who solely accept cash and bitcoin. To enhance their experience further, they also launched initiatives such as ‚The Bitcoin tuk tuk‘ and ‚The Peer To Peer Boat‘.

Data Analysis

In order to assess their progress over one year since launching, I collected data from the Bitcoin Beach Wallet which showed 4674 transactions were made in 2022 and that there was a volume of 7.39 BTC in 2022.

Education Projects

I also taught „Mi Primer Bitcoin“ courses at local schools where students gained an exceptional understanding of Bitcoin. In January we held our first meetup with 10 attendees which was followed by several other successful meetups throughout 2021.

Conclusion

Through my volunteering with Bitcoin Lake my dedication to this technology has grown significantly and I’ve seen firsthand how beneficial it can be for those without access to formal banking services or knowledge of cryptocurrencies. The progress that they’ve made so far serves as an inspiration for all involved in this innovative sector!