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City in Brazil to Accept Bitcoin for Public Transportation, Our Views

City in Brazil to Accept Bitcoin for Public Transportation, Our Views

Brazil has always had some progressive ideas, but now the City of Fortaleza, the beachfront capital city of Ceara, will allow Bitcoin to be used as payment for the local bus system by the end of this year. This piece was sourced from Bitcoinmagazine.com, attributed to Jimmy Aki. A local news outlet called O Povo confirmed this report on July 25, 2019.

The passenger cooperative has adopted this new system with a view to reduce bureaucracy and improve the acceptance of bus payments by more citizens. Mr Carlos Roberio Sampaio, the chief financial officer of Cootraps, the Co-operative Autonomous Passenger Co-operative, said that he forecasts an influx of people into bus transportation and he and Cootraps will ensure a seamless experience for every user.

Our Views: Clearly there is a small but loyal group of consumers who are ready to join the world of Bitcoin and digital currencies. With Bitcoin, and a handful of names dominating global volume of digital assets, the ability to track is easy for now. We have added some comments from Tom Lee and his team about the end of Crypto Winter – the rally in spring – and the future of this asset. Look in our crypto section for more information.

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