[Image: Wikimedia]
The small coastal town of Witsand has become an unlikely model for how digital currency can thrive in South Africa.
Known as Bitcoin Witsand, the grassroots initiative allows residents to buy nearly everything with cryptocurrency, from petrol to breakfast at a local diner.
YouTube content creator Joe Nakamoto (likely an ode to the alleged founder of Bitcoin, Satoshi Nakamoto) recently posted a video about his visit to the Western Cape town. He describes Witsand as a “Bitcoin circular economy project” with one of the highest adoption rates of cryptocurrency per capita in the world.
“Most of the tiny town’s residents are Bitcoin holders, meaning they save in Bitcoin.”
Witsand also doesn’t shy away from announcing its preference for crypto, with signs everywhere promoting digital currency payments. However, traditional cash is still accepted for those who have yet to embrace the future.
Bitcoin has had its fair share of naysayers, but it has become clear that the world’s leading cryptocurrency is here to stay, meaning Witsand might be a few steps ahead of South Africa’s cities. Watch the video below.
[Source: IOL]
