usethebitcoin.com
Users in the Brazilian city of Fortaleza will now be able to pay for public transport using Bitcoin (BTC) the most popular digital asset in the world. The information was released by the local newspaper “O Povo” and the solution is expected to be implemented at the end of 2019.
Bitcoin For Paying Public Transport
According to the local news site O Povo, Brazilian citizens living in the city of Fortaleza will have the possibility to use their Bitcoin to pay for public transport. The main goal behind this initiative is to reduce costs and attract new users that would like to pay using the most popular digital asset.
The financial director of the Ceará State Autonomous Passenger Transport Cooperative (Cootraps) informed that this will help to attract new users to the public transport network.
On the matter, he commented:
“This is a way of reducing bureaucracy and bring more users to the public transport network. We expect a larger number of passengers, we want to make things easier for users.”
At the same time, they are also analyzing the possibility to accept payments in other virtual currencies in the future. However, there is no information about which are the digital currencies that they are evaluating to include.
Bitcoin has been expanding around the world and this is just one of the many ways to increase the adoption of virtual currencies. Brazil and many other countries are moving ahead in terms of adoption of digital assets.
Paulo Skaf, the president of the Federation of Industries of the State of Sao Paulo (FIESP), predicted that the tax system of the country will push users towards digital assets. He considered that it is going to be unfair for many users because those that trade in digital assets will they will not be paying taxes by those that use fiat currency will be paying.
Argentina, the second-largest South American country has also adopted digital currencies for paying public transport. The companies Alto Viaje and Bitex decided to work together in order to help individuals send funds to the SUBE card to pay for public transport.
The CMO of Bitex, Manuel Beaudroit, commented about it:
“We believe that these projects are very important since they bring a technology as disruptive as Bitcoin to the common people, demonstrating the real value and the applications that it has in everyday life.”