Praia Bitcoin Brazil, an initiative focused on Bitcoin education, is preparing to host its first-ever Bitcoin Carnival in the beautiful beach town of Jericoacoara. This innovative project has set out to establish a sustainable circular economy that benefits the unbanked and underprivileged citizens of Brazil.
The Bitcoin Carnival event is expected to draw significant attention, building on the momentum and interest that the initiative has generated since its inception. In recognition of its impact, Praia Bitcoin Brazil was honored with the prestigious Blockchain for Humanity award, which recognized it as the leading social project with the greatest positive impact globally, during a presentation at LaBitConf Argentina 2022.
The conference, which is a key component of the project, aims to provide practical education on how to use Bitcoin and its related technologies, helping to establish a roadmap for merchants to start accepting cryptocurrency payments in the region.
Crypto is of great interest to Brazilians
The latest polls show that Brazil and the Latin American region have the highest demand for cryptocurrencies worldwide, with social injustice, lack of education opportunities, and the greed of traditional financial institutions creating issues in the country’s 217-million-person population.
Bitcoin Beach Brazil seeks to address this by educating people on how to use the Bitcoin Lightning Network for everyday transactions, including taxes.
The country’s oldest national bank has started accepting cryptocurrency payments for taxes, and the Brazilian government has been working on the legislation since November 2022, when Bitcoin (BTC) was officially recognized as a means of payment.
Bitcoin Standard Circular Economy
Fernando Motolese is reported to have created the Bitcoin Beach Brazil project, intending to promote the integration of the Bitcoin standard in communities around the world. He is currently working on a book entitled “Bitcoin Standard Circular Economy” which aims to further support this mission.
This social project has received a positive response from various sectors of society since its launch. It was recognized as the world’s leading social project with the greatest impact by Blockchain for Humanity in Argentina last year. CCL, which is listed on the New York Stock Exchange (NYSE), is currently trading at $11.29 with a year-to-date appreciation of 41.66%.
Similar to the El Salvador Carnival conference, Bitcoin Beach Brazil plans to raise awareness about Bitcoin’s payment acceleration and assist merchants in creating a roadmap to accept Bitcoin payments in the region.
The Bitcoin Beach Carnival is happening while Brazil’s oldest national bank is now accepting cryptocurrency payments for taxes, and the government is preparing new legislation to support this move. Brazilians are known for their enthusiasm for cryptocurrency.
Nearly half of Brazilians (49%) have engaged in at least one cryptocurrency-related activity, according to the Mastercard Global Index Survey 2022, significantly surpassing the global average of 41%. It should be noted that the recent launch of the Binance Prepaid Crypto Card in Brazil coincides with this trend.
The Bitcoin Beach Carnival will take place during a time when the Brazilian national bank is starting to accept cryptocurrency payments for taxes. The government has been preparing for this since November 2022, when Bitcoin was officially adopted as a means of payment. The hope is that through these programs, cryptocurrencies will become integrated into the daily lives of the common people.
This effort represents a significant step forward in the quest to build a more equitable and inclusive financial system for all Brazilians, regardless of their socioeconomic status or access to traditional banking services.
Ken Emmanuel is a Blockchain Content writer, a Web3 Enthusiast and a Social Media Management Strategist, he likes writing educative contents to help people gain more knowledge and get inspired. The growth of any organization he work with is always his priority. He is a Geographer by profession and loves reading.