Bitcoin Ekazi: The circular and local economy in South Africa

Inspired by "Bitcoin Beach” (El Zonte in El Salvador), Bitcoin Ekasi is an extension of the foundation “The Surfer Kids".

Indeed, The Surfer Kids is a registered non-profit organization, founded in 2010. The organization is 100% donation-based and works to create youth empowerment in an impoverished South African township. Bitcoin Ekasi is also a circular bitcoin economy located in South Africa. To contribute to the democratization of cryptocurrencies on the African continent, she opened the Bitcoin Ekasi Center with the aim of providing financial knowledge and bitcoin (BTC) to young people, entrepreneurs and local businesses.

Bitcoin Ekasi: What is it?

Among all the initiatives that contribute to the popularization of crypto assets, Bitcoin Beach in El Zonte carried by the government of El Salvador remains the legion case. In the footsteps of the latter, Bitcoin Ekasi (a South African initiative) aims to use a well-established community platform, The Surfer Kids NPO, to create an economy bitcoin(BTC) in the canton already served by this non-profit organization.

The Surfer Kids is a program that already exists in the township and operates 5 days a week, year-round, and is run by coaches from the same township community.

The other objective of Bitcoin Ekasi is to demonstrate in this South African corner that bitcoin (BTC) is a real currency capable of being used in our everyday transactions.

To do this, the organization pays the salaries of these coaches in bitcoin (BTC), while simultaneously inviting sellers in the canton to accept bitcoin (BTC) as a means of payment. This allows coaches to spend their satoshis to purchase groceries in the township, thereby introducing bitcoin(BTC) into the real township economy.

A local economy is therefore created. All this is made possible thanks to Lightning Network. Bitcoin's second layer scaling solution, designed to expand the transaction throughput of the Bitcoin network on a global scale.

How does the Extension Center work?

The Bitcoin Ekasi Center, is a center which aims to promote the popularization of cryptocurrencies and bitcoin in particular. For the same purpose, Ekasi has already integrated 10 local businesses into bitcoin in the region. The educational center also recruited around twenty young people in just one week and aims to double its attendance in the near future. In addition, in the morning, the center is open to the entire community from Tuesday to Friday and all day on Saturday.

Young people who participate in the center's educational program also spend time with the Surfer Kids, another nonprofit started by the same founder of Bitcoin Ekasi. This is Hermann Vivier, who focuses on character building and empowerment in poor areas.

"We recently celebrated Bitcoin Ekasi's first anniversary and it's a surreal feeling to officially open the center".
Hermann Vivier

"During this time, I witnessed financial empowerment through Bitcoin, positively affecting seemingly unrelated social issues.t,” Vivier continued. “Through the Bitcoin Ekasi Center, I'm honored that our team can grow this movement and inspire other communities to think differently about money. "

Who supports the Bitcoin Ekasi Center?

The Ekasi center is supported by the leading fintech Paxful and Built With Bitcoin Foundation , a non-profit organization dedicated to providing clean water, quality education through school construction in Africa, and humanitarian support with Bitcoin.

“In many communities that I have seen firsthand, Bitcoin means opportunity, Bitcoin means a better chance in life,” said Yusuf Nessary. This is the co-founder and director of the NGO Built With Bitcoin. “It all starts with education and we are proud to contribute to Bitcoin Ekasi’s efforts to empower a local community to take the reins of their financial future.”

The program is based on the age of the participants. Thus, younger participants focus more on fundamental math and English skills. Older groups will focus on three specific questions: What is bitcoin ? How does it work? et Why is it important?

Bitcoin Ekasi: An initiative to promote across the African continent?

In conclusion, Bitcoin Ekasi is an initiative that aims to contribute to the education and popularization of cryptocurrencies. There are more and more initiatives of this kind. By the example of Kiveclair, an initiative which aims to help victims of the eruption of the Nyiragongo volcano in the east of the DRC.

In order, through these different initiatives, cryptocurrencies have demonstrated for the millions of people who do not have access to banks and credit, that they are a real solution for financial inclusion.

What is certain is that the development of bitcoin in Africa is only just beginning. Many initiatives such as the application Machankura, the establishment of crypto sango in the Central African Republic, the opportunities are great.

Now it's time to seize them.

Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

Our affiliate links:

Buy cryptocurrencies (the easy way):