Sunday, August 3, 2025
  • Login
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Bitcoin Ekasi Township One Yr Later – Bitcoin Journal

by SB Crypto Guru News
August 17, 2022
in Bitcoin
Reading Time: 25 mins read
0 0
A A
0


That is an opinion editorial by Hermann Vivier, co-founder of The Surfer Youngsters and Bitcoin Ekasi.

Bitcoin Ekasi the surfer kids village South Africa economy

On Aug. 5 2021, Joey Olden and Luthando Ndabambi walked into JCC Camp, a township on the outskirts of Mossel Bay, South Africa. They’d a mission: discover a township nook retailer keen to promote them one thing for bitcoin. Their eventual success later that afternoon (after they purchased two cool drinks with sats despatched over the Lightning Community) could possibly be known as the second Bitcoin Ekasi was born.

Above: Aug. 5, 2021 — Bitcoin Ekasi is born.

However the seeds that sprouted the challenge had been sown lengthy earlier than. I used to be first launched to Bitcoin in late 2013, following the banking disaster in Cyprus. My spouse and I function a surf-tourism enterprise and, as a result of she’s Russian, we’re primarily targeted on the Jap European and Russian markets. The disaster in Cyprus (together with the following bailouts and associated confiscation of deposits) affected many Russians and once I got here throughout Bitcoin — thanks to some early printed editions of Bitcoin Journal and a buddy who’d purchased some on Mt. Gox — it grabbed my consideration.

Bitcoin Ekasi the surfer kids village South Africa economy

On March, 25, 2013, a €10 billion worldwide bailout by the European Central Financial institution, Worldwide Financial Fund and others was introduced. This in return for Cyprus agreeing to shut the nation’s second-largest financial institution, the Cyprus Widespread Financial institution, imposing a one-time levy on all uninsured deposits there and seizing round 48% of uninsured deposits within the Financial institution of Cyprus, the island’s largest business financial institution. A minority proportion of it was held by residents of different nations (lots of whom from Russia) and 47.5% of all financial institution deposits above €100,000 had been seized.

Like all of us, I didn’t instantly perceive what Bitcoin was or the way it labored. I nonetheless don’t perceive a whole lot of the finer technical particulars. However, it didn’t take lengthy to comprehend that, no matter this factor was, if what was written in that journal had been true, these individuals wouldn’t have had their cash arbitrarily confiscated if their cash had been in self-custodied bitcoin quite than a Cypriot financial institution.

After having purchased a bit bitcoin close to the highest in 2013 and doing my homework when the worth crashed, we began accepting bitcoin funds from surf-trip purchasers in mid-2015.

Bitcoin Ekasi the surfer kids village South Africa economy

Unravel Surf Journey – KwaZulu Natal, South Africa, 2015

The primary Russian and Ukrainian battle had damaged out and, because of sanctions, in some circumstances bitcoin was the one approach to obtain funds. On July 17, 2014, the US prolonged its transactions-ban to 2 banks, Gazprombank and Vnesheconombank and, on Sept. 12, 2014, imposed sanctions on Russia’s largest financial institution, Sberbank. This affected the flexibility of each abnormal Ukrainains and Russians to make worldwide transfers and, paradoxically, our first surf-trip bitcoin fee (in Could 2015) got here from Ukrainian vacationers who had been unable to pay because of sanctions in opposition to Russia.

Bitcoin Ekasi the surfer kids village South Africa economy

Unravel Surf Journey – Mozambique, 2018

Quick ahead to late 2019. Episode 179 of the “What Bitcoin Did” podcast was my introduction to Bitcoin Beach. The thought of proactively constructing a round Bitcoin financial system made sense and held nice enchantment. If Bitcoin was to ship on its promise, it must ultimately be used for on a regular basis functions. And, doing this in a marginalized neighborhood, like El Zonte in El Salvador, appeared like a lovely illustration of the truth that there was no sensible cause it couldn’t be adopted anyplace else. It disproved so lots of the widespread falsehoods one hears when speaking about mass adoption: it’s too unstable; it’s too advanced; it’s solely good for criminals and drug sellers, and many others., and many others.

Bitcoin Ekasi the surfer kids village South Africa economy

Listening to that interview with Michael Peterson, I noticed that we had the platform to do one thing related. So, alongside our tourism enterprise my spouse and I co-founded a small non-profit, The Surfer Youngsters, in 2010. It was created as a donation-based group and the unique concept was to supply vacationers some perception into what life was like for 90% of South Africans, with out taking part within the “let’s-drive-through-the-slum” sort tourism. We launched a program that taught browsing to children particularly from impoverished areas on a weekly foundation and allowed a extra constructive interplay between locals and vacationers. By 2019 The Surfer Youngsters had grown and developed right into a program serving 40 children attending surf classes 5 days per week, all yr spherical.

Bitcoin Ekasi the surfer kids village South Africa economy

The Surfer Youngsters – 2016

In 2021 Bitcoin Journal gave me a platform to write down, which led to a podcast interview on By the Horns and, in consequence, The Surfer Youngsters program acquired its first bitcoin donation in mid-2021. That was the ultimate piece of the puzzle and the second when the rubber actually hit the street. I might envision the sensible implementation of the challenge, now known as Bitcoin Ekasi.

Link to embedded Tweet.

I approached The Surfer Youngsters’ coaches, particularly our Senior Coach, Luthando, and proposed the concept. He’d by no means heard about Bitcoin earlier than (apart from from scammers) so, first, we’d spend two months discussing Bitcoin, me making an attempt to impart as a lot understanding as potential inside a brief area of time. Second, Luthando took that newly acquired information and began speaking to the house owners of nook shops within the township, explaining the potential sensible advantages of accepting bitcoin as fee.

Bitcoin Ekasi the surfer kids village South Africa economy

The Surfer Youngsters’ Senior Coach — Luthando

He encountered a whole lot of resistance. Most store house owners believed (and lots of nonetheless do) that it’s all one large rip-off. In reality, most of his time was spent not a lot explaining Bitcoin, however merely demonstrating its ease of use. Cellular purposes like Bitrefill, Paxful and (extra not too long ago) Azteco had been invaluable in displaying those who, sure, bitcoin was in actual fact actual cash. An individual’s demeanor would very quickly change from skepticism to curiosity as they witnessed bitcoin — deposited right into a pockets on their very own telephone — getting used to purchase cellular credit score which arrived close to instantaneously with Bitrefill. Or withdrawing money from a money machine, regardless of not having a checking account, with solely a pin quantity, despatched by a stranger, who was keen to purchase bitcoin from them on Paxful. Store house owners had been crammed with disbelief once we converted vouchers, which they already stocked, into bitcoin with Azteco.

On this means Luthando onboarded our first retailer (Kwallos Store, owned by Nosihle and her husband Vuyisa) in early August 2021 and at that time we started supplementing his current fiat wage with bitcoin, which he might now spend at that retailer. For 2 months Bitcoin Ekasi remained nothing greater than that. In the meantime, I continued to teach Luthando about all issues Bitcoin and he would go into the township, spend his bitcoin wage shopping for groceries at Kwallos and converse to different store house owners, demonstrating and explaining the sensible advantages of Bitcoin.

Bitcoin Ekasi the surfer kids village South Africa economy

Kwallos Store, Nosihle and Luthando – January 2022

It took about three months to onboard the second and third retailer house owners and, within the interim, we started paying bitcoin salaries to our three junior coaches who assisted Luthando in working The Surfer Youngsters’ program. Up till that time, two of them had been volunteering/working as apprentices, with the hope that we’d ultimately have the ability to afford a wage for them.

Bitcoin Ekasi the surfer kids village South Africa economy

The Surfer Youngsters’ junior coaches, left to proper – Sandiso, Lukhangele Mbasa

The third Junior Coach, Lukhangele, (17) probably the most senior of the three junior coaches, had been incomes his wage in money. He was (and nonetheless is) unable to open a checking account due to a clerical mistake on his delivery certificates; his money wage was usually forcibly taken by older relations who used it for their very own doubtful functions. Getting paid in bitcoin was an fascinating shift for him as he skilled having full management over his personal cash for the primary time. Storing cash in a bitcoin pockets, protected by a password, modified the household dynamic. He’s the oldest sibling within the family and he’s the massive brother in a fatherless family. Regardless of nonetheless being a school-kid, his wage (of about $150/month) was the one greatest common family contribution, with the remainder of the household largely counting on social grants and intermittent informal work. Bitcoin put him within the place the place he might resolve what — and when — he would contribute to the family.

Bitcoin Ekasi the surfer kids village South Africa economy
Bitcoin Ekasi the surfer kids village South Africa economy

Above – The Surfer Youngsters Junior Coach – Lukhangele

These types of experiences and sensible use circumstances energized me as a result of for the primary time I personally witnessed a really real-world impression of what bitcoin might do in another person’s life. I had skilled it in my very own life, however truly seeing monetary empowerment occurring in entrance of my very own eyes, expanded my perspective on what’s potential with bitcoin. The meme “Bitcoin fixes this” immediately grew to become actual, as I noticed it affecting seemingly unrelated social points in constructive methods.

And the extra I skilled this, the extra motivated I grew to become to drive this challenge ahead so far as potential — as a result of it’s one factor to imagine that Bitcoin can change the world, however to see it and expertise it proper in entrance of me, that basically lit the orange hearth within me.

It was round that point when some momentum began constructing, each on the bottom and on our Bitcoin Twitter profile, that Michael Peterson contacted me and provided the help of Bitcoin Seashore. His concept was to show Bitcoin Seashore into a world motion whereby they help related tasks however permit them to construct and develop in their very own distinctive methods. This speaks to the decentralization of Bitcoin itself and stands in stark distinction to the world of fiat donations/funding the place, in my expertise, many donors anticipate an unrealistic degree of affect and management when donating to an NPO.

Because of their help we’ve been capable of prolong our impression by performing some very thrilling issues, like launching our kids’ rewards program, appointing a full-time Bitcoin educator in our neighborhood, offering shop owners with Bitcoin signage, using full-time lifeguards to patrol our seashores and forestall drownings and appointing a further Senior Coach, Akhona, to assist Luthando drive this challenge with extra boots on the bottom.

Bitcoin Ekasi the surfer kids village South Africa economy

Bitcoin Ekasi / The Surfer Youngsters – Coaches and Lifeguards

As well as, we at the moment are offering workers uniforms to our expanded workforce of coaches and lifeguards, all of whom earn 100% of their wage in bitcoin and spend it shopping for groceries from outlets we have now onboarded.

Above: Left to Proper — Good Morning Store (Michael), Good Hope Store and Isinyoka Store

The final word query, I suppose, is, “Why do that?”

When you’re a Bitcoiner, why. But it surely’s my hope that common individuals additionally learn this and have a look at tasks like ours and Bitcoin Seashore and really feel impressed to suppose deeper and additional concerning the implications of Bitcoin on communities in South Africa and the International South.

There are two explanation why I’m doing this. First, to help and broaden upon the unique intention of the The Surfer Youngsters’ program, which has all the time been about private empowerment.

As a recovering addict there may be one factor I perceive very properly, and that’s the truth that change should come from inside. One of the best ways to assist one other is to point out them the best way to assist themselves. Anything creates dependency and, as a rule, has destructive long-term unwanted side effects.

And so The Surfer Youngsters’ emphasis has all the time been on instructing the youngsters the worth of dedication to long-term targets. As that’s the best way for a person to empower themselves: decide to one thing and keep it up, it doesn’t matter what. Browsing is enjoyable however inherently troublesome to study and, like Bitcoin, teaches perseverance.

Nonetheless, working The Surfer Youngsters for greater than a decade, it’s all the time felt like a drop within the bucket. There are millions of individuals residing underneath horrifying circumstances in that township, and that’s simply considered one of 1000’s of townships — on this nation alone. And we solely serve 40 children.

Introducing Bitcoin as a device for private and monetary empowerment might, prefer it did in El Zonte, create a ripple impact in our neighborhood. And I’ve already seen that happen in quite a few fascinating and thrilling methods. Those that dismiss the concept that Bitcoin modifications an individual’s mindset and angle are both not paying consideration, haven’t skilled the impact firsthand in their very own lives and/or have by no means seen it occur in another person’s life.

Bitcoin Ekasi the surfer kids village South Africa economy

Bitcoin Ekasi, Mossel Bay

Second, as talked about earlier, that is one other proof of idea. There are only a few locations on the earth the place individuals stay underneath extra determined circumstances than townships resembling this one. Unemployment is astronomically excessive. Illiteracy is rife. Most houses are in actual fact casual constructions constructed from scrap materials and the bulk have neither working water inside their house, nor bogs or heat water.

If Bitcoin can work right here and be organically adopted in a setting resembling this, there’s no cause why it couldn’t be adopted anyplace else. I’d perceive if an higher center class particular person instructed me they’d favor to not use it, for no specific cause apart from desire. However don’t inform me it’s as a result of it’s too advanced or unstable. If it’s being adopted (voluntarily and with no incentive apart from the utility it has to supply) within the circumstances that we’ve described right here, then why not anyplace else? And in every single place else?

The actual fact of the matter is, these are all simply excuses. Folks will undertake it after they want it. Once they haven’t any different alternative left, bitcoin will now not be “too advanced,” “too unstable” or “solely good for criminals and drug sellers.”

And that’s actually been probably the most stunning factor about this expertise. The individuals whom we’ve seen adopting bitcoin, within the township, haven’t achieved so for ideological or philosophical causes. They don’t care about our Twitter debates. We’ve seen bitcoin being adopted just because, in contrast to the remainder of society for whom the present system nonetheless works comparatively high-quality, for a lot of on this township neighborhood Bitcoin is, in lots of respects, merely the perfect accessible choice. A private path to larger freedom and private duty is being discovered, one South African at a time.

And when (not if) the present established order fails or when there’s a significant sovereign default or reserve foreign money disaster, these skeptics who don’t but see its utility will start to grasp. It is just at that time the place they’ll start to strongly take into account adopting bitcoin.

Primarily, we’re serving to to get the lifeboat prepared earlier than the ship goes down. As a result of by the point it does go down, the lifeboat have to be crusing.

It is a visitor put up by Hermann Vivier. Opinions expressed are completely their very own and don’t essentially mirror these of BTC Inc. or Bitcoin Journal.





Source link

Tags: BitcoinBitcoin NewsCrypto NewsCrypto UpdatesEkasiLatest News on CryptoMagazineSB Crypto Guru NewsTownshipyear
Previous Post

NodeJS SDK for Web3 – Exploring Moralis’ NodeJS SDK » Moralis » The Web3 Growth Workflow

Next Post

NFL Crew Houston Texans Now Accepts Bitcoin For Single Sport Suites – Bitcoin Journal

Related Posts

AI-Crafted Crypto Wallet Drainer Bypasses Security Tools, Empties Balances Fast

AI-Crafted Crypto Wallet Drainer Bypasses Security Tools, Empties Balances Fast

by SB Crypto Guru News
August 3, 2025
0

An AI-generated crypto malware disguised as a routine package drained wallets in seconds, exploiting open-source ecosystems and sparking urgent concerns...

Ethereum Price Pulls Back To ,500, But MVRV Signals Uptrend Continuation Likely

Ethereum Price Pulls Back To $3,500, But MVRV Signals Uptrend Continuation Likely

by SB Crypto Guru News
August 3, 2025
0

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was...

US Crypto ETFs Record Best Month Yet With  Billion July Influx

US Crypto ETFs Record Best Month Yet With $13 Billion July Influx

by SB Crypto Guru News
August 2, 2025
0

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure There is no question that 2025 has...

No Gold? No Problem: Why XRP Stands Strong On Its Own—Analyst

No Gold? No Problem: Why XRP Stands Strong On Its Own—Analyst

by SB Crypto Guru News
August 2, 2025
0

Reports have disclosed that XRP community commentator Versan Aljarrah says XRP could gain a link to gold without actually holding...

Massive Red Friday: Bitcoin and Ether ETFs See Combined 4 Million Outflow

Massive Red Friday: Bitcoin and Ether ETFs See Combined $964 Million Outflow

by SB Crypto Guru News
August 2, 2025
0

Bitcoin exchange-traded funds (ETFs) experienced a historic $812 million outflow, their second-largest on record, while ether ETFs saw their 20-day...

Load More
Next Post
NFL Crew Houston Texans Now Accepts Bitcoin For Single Sport Suites – Bitcoin Journal

NFL Crew Houston Texans Now Accepts Bitcoin For Single Sport Suites - Bitcoin Journal

TA- Origin Protocol (OGN) Struggles

TA- Origin Protocol (OGN) Struggles

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Facebook Twitter LinkedIn Tumblr RSS

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

Copyright © 2022 - SB Crypto Guru News.
SB Crypto Guru News is not responsible for the content of external sites.